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

Live Free or Die Hard

Posted by Wade Carter on Jun 24, 2016

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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.

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Topics: Specialty, Industry Trends, Market Access