The Pros And Cons Of Prescription Drugs

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The current unprecedented skyrocketing costs of prescription drugs is a historic event in healthcare. The privatization of healthcare has arguably moved the health care system from patient-centric to money-centric. The recent unsettling examples of price hikes for drugs that combat AIDs as well as EpiPen brand epinephrine have left many consumers wondering why these prices are so arbitrary. The conversation between Government and big pharmaceuticals is not promising when looking for reprieve in the cost of life saving drugs. Free market capitalism dictates that the government should play a small role in the privatized health care system; however, the government is also a purchaser of pharmaceutical goods due to entitlement programs. It is not unimaginable for the government to place restrictions on these corporations that are exploiting the ill for more profit. In the analytical article published by Journal of Health Economics, Can WalMart make us healthier? Prescription drug prices and healthcare utilization, Florencia Borrescio-Higa examines how reducing the price of prescriptions that treat common chronic issues reduce hospitalizations in the surrounding area. Borrescio-Higa found an inverse correlation between prescription drug costs and hospitalizations. The common factor appears to …show more content…

Per capita spending on prescription drugs in America is far greater than any other country. Kesselheim goes on to say that this is a natural result of America’s free market approach to healthcare resulting in monopolies. These healthcare monopolies are not held accountable for their high drug prices. The claims that these costs can be justified through research and development is rubbish, according to

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