Insurers balk at cost of cancer drugs - what should be done? (healthcare, premium)
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It's an interesting issue that has drawn reaction from private insurers:
Quote:
Dr. Lee N. Newcomer, senior vice president for oncology at the big insurer UnitedHealthcare, called the price of Folotyn “unconscionable.” He said that Folotyn alone would cost as much as UnitedHealthcare now typically spends in total to treat a lymphoma patient from diagnosis until death ($87,000).
A drug like pralatrexate (marketed as "Folotyn" in the US) costs $30,000 per month, but there is no conclusive evidence that it actually extends the lifespan of cancer patients (as opposed to shrinking some tumors).
As new cancer drugs are increasingly priced in the $5,000+ per week or higher range, how should the healthcare system respond? Should Medicare and private insurers in the US be allowed to negotiate (like other countries) for better deals? Should private insurers be permitted to deny patients certain drugs that are simply too costly?
And if there are no cost controls, what does that do to insurance premiums in general?
It's an interesting issue that has drawn reaction from private insurers:
A drug like pralatrexate (marketed as "Folotyn" in the US) costs $30,000 per month, but there is no conclusive evidence that it actually extends the lifespan of cancer patients (as opposed to shrinking some tumors).
As new cancer drugs are increasingly priced in the $5,000+ per week or higher range, how should the healthcare system respond? Should Medicare and private insurers in the US be allowed to negotiate (like other countries) for better deals? Should private insurers be permitted to deny patients certain drugs that are simply too costly?
And if there are no cost controls, what does that do to insurance premiums in general?
The drug companies should be told to lower the cost or remove the drug from the market until they can set a reasonable price for it.
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Quote:
Originally Posted by KevK
The drug companies should be told to lower the cost or remove the drug from the market until they can set a reasonable price for it.
Although I agree that the cost of medications are ridiculous, I do realize that the drug manufacturers go through hell and considerable time and expenses getting drugs approved by the FDA. If they are not allowed to recoup their costs, then why bother developing life saving medications?
It's an interesting issue that has drawn reaction from private insurers:
A drug like pralatrexate (marketed as "Folotyn" in the US) costs $30,000 per month, but there is no conclusive evidence that it actually extends the lifespan of cancer patients (as opposed to shrinking some tumors).
As new cancer drugs are increasingly priced in the $5,000+ per week or higher range, how should the healthcare system respond? Should Medicare and private insurers in the US be allowed to negotiate (like other countries) for better deals? Should private insurers be permitted to deny patients certain drugs that are simply too costly?
And if there are no cost controls, what does that do to insurance premiums in general?
edit -- it looks as if no brand of pralatrexate is buyable there. This is that company that just got the patent in the US (further edit -- for an injectable version).
Last edited by delusianne; 12-04-2009 at 09:16 PM..
Pharma makes about the highest profits - more than oil. The US consumer supports them - same drugs are available in other countries often at a small fraction of the price - I know this from personal experience on a trip to China where I got a perscription (I had run out of) at 5% of the US price.
The drug companies should be told to lower the cost or remove the drug from the market until they can set a reasonable price for it.
That right thats a great idea. Well if you can't afford it well than nobody should have it. Very sensitive and caring of you. Another fact that libs choose to ignore, NEW DRUGS COST MONEY TO MAKE. Not just to produce but to pay for R@D. And drug reps and the like. All for making jobs but crushing the sector that creates them.
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