Contact

Payer

Pharma

Provider

Formulary guidance and transparency from P&T to point of care

Live Free or Die Hard

Posted by Wade Carter on Jun 24, 2016

Find me on:

quality-of-life-mmit.jpg

As I sit and read the articles about raising drug costs in the USA, I cannot help but wonder “What is the other side of the story?” Most things will have a cost associated with a benefit and vice versa… you have to give to take. For example, we want cheaper gas (benefit), we most likely need to impact our environment in a negative way (cost), we have to work and not stay home with the kids (cost), because we want a bigger house (benefit). The other side of the high drug costs story that is not mentioned most of time improved and extended life.

I think we have gotten accustomed to take, take, take, with a reluctance to give. I want live to see my great-grandkids (take), while keeping my lifestyle in tact (take), without pain or suffering (take), but keep my taxes low (take) and my healthcare costs at a minimum (take). Not saying we cannot do anything about the rising costs, we definitely need to better understand the why and how to control, especially generic, long-standing products. However, we all need to recognize we are getting benefit from the cost.

I do believe we end up in a value pricing situation where we are assigning a $ figure to a year of life, but it will take time for people to be able to accept and have the conversation that their life, or that of a loved one, is only worth $100K/year.

For perspectives on payer, pharma and provider trends, follow MMIT on Twitter to check out even more content from influencers around the industry (like Huffington Post's infographic above).

Follow MMIT on Twitter

Topics: Specialty, Industry Trends, Market Access