Pharmaceuticals
The Pharmaceutical Industry and its Implication on Cost
- Research and development have made a great contribution to medical outcomes, however, this is a major factor in driving increases in the cost of prescription drugs
- The latest data demonstrates differences among countries to negotiate pharmaceutical pricing with other industrialized countries purchasing at discounted rates
- Medicare is blocked, by law, on how much they can negotiate the cost of pharmaceuticals in the United States
- This law must be taken under review
- This restriction does not apply to other countries
- It is incumbent upon the medical community to monitor prescription patterns so that pharmaceuticals optimize the benefits to the population without overprescribing
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