Updated: Nov 7
Recently, the Administration proposed a new rule to requirement pharmaceutical ads to include list prices of medications for drugs covered by Medicare and Medicaid.
Including prices in pharmaceutical ads is not as easy and straight forward as it sounds, mainly because the pricing system for medications has become unnecessarily cumbersome and complicated.
Making the pricing scheme mind-bogglingly complicated gives Big Pharma and other entities the opportunity to bilk consumers and then point fingers when being accused of causing the problem.
Intermediaries within the drug pricing system all contribute to the problem, and the problem continues because it is a well-rigged system that has taken decades to build.
The question becomes is this yet another attempt to make it seem like something is being done yet nothing will actually change because this is a benign step that will lead to other problems and more debate around how drugs are priced.
The fundamental truth remains – drug prices are too high. The only people who do not agree with that statement are the people who are making outrageous profits in one way or another and, therefore, have inherent and obvious self-interests.
It is time for change, and we will keep fighting for change. Join us!
Check out this op-ed from Sally Pipes in the Washington Examiner with more details on the pricing conundrum: https://washex.am/2yzo1pG