5 ms·
How, exactly, has regulation driven the price of a drug we've had for decades up hundreds, even thousands, of percent, most of which increase happened after it
by rosser 8y ago
How, exactly, has regulation driven the price of a drug we've had for decades up hundreds, even thousands, of percent, most of which increase happened after it was out of patent protection?
- conanbatt 8y agoWho stops you from buying insulin outside the US and re-selling it in the domestic market?
- arcticbull 8y agoFascinating that drugs in Canada are perceived as so much cheaper than in the US, and yet, you know that Canada doesn't have a socialized prescription drug program? Instead, provincial health programs negotiate drug prices. You know who can't do that? Individuals. Also, Medicare.
- conanbatt 8y agoPurely because of government intervention.. The medicare example is quite an interesting one as well. The US doesn't have the political momentum to let medicare negotiate pharma prices, and before such a basic thing is even changed, you want to hand over the entire health care insurance industry to the government?
- arcticbull 8y agoYes. At some point making tiny adjustments to an overwhelmingly backwards and world-leadingly inefficient system is going to be harder than starting fresh.
- conanbatt 8y agoOkay, but if the small changes were disastrous, whats the guarantee that the big ones will not be?
- arcticbull 8y agoTotally different things. It's like saying if I tweak this nob and it goes bad, well, why should I switch to a completely different system three counties down? Especially when that totally different system three counties down works for every other developed nation in the entire world. And also some of the developing ones. You should be defending why the American system is better than every other country in the world in spite of their lower costs, better access and better healthcare and better outcomes across the board. Private care in the US costs two times as much per capita as socialized care in Canada, doesn't cover everyone, and yet Canada's outcomes are better and Canada places higher in WHO rankings. Making small adjustments to a doomed system is just akin to rearranging the deck chairs on the Hindenburg. I'm suggesting maybe fixed-wing aircraft that aren't full of Hydrogen.
- conanbatt 8y agoThe american health system is worse than other countries for intense regulatory capture and regulation, thats my assessment and one shared by many economists in the healthcare space. Socialized programs dont resolve that. Having medicare for all does not abolish patent law, or creates doctors out of thin air, or reduces the cost of medical school, those are recognized problems. The socialized medicine plan is mostly hiding away the cost and paying it all through taxes: not making it cheaper. That way, the only way you can do it cheaper is by reducing the state offering. You will not get the canadian health insurance by signing a law that says you will. You will get the american version of it. Please bear in mind medicare itself is also more expensive than canadian health services as it is, thats what the american state gives out.
- arcticbull 8y ago>> The american health system is worse than other countries for intense regulatory capture and regulation, thats my assessment and one shared by many economists in the healthcare space. I addressed where cost savings come from in another post you may have missed, another reply to your comment with specific examples, we can take that over there. >> You will not get the canadian health insurance by signing a law that says you will. Funny, that’s how we got ours in Canada in the 1970s, you should read up on it and on Tommy Douglas. No need to be defeatist. We had a for profit system, and it was the worst, so we changed it. I’m not sure why America would be incapable of that when we weren’t. Further as in Canada, the system can be defined as the federal government requires minimum standards of care and the states execute in the way that makes sense for them. Obviously Medicare is more expensive. America doesn’t have a free market for healthcare. The young, healthy and cheap to insure obtain cover in the private markets. All the worst customers (the sick, the old, the dying) are removed from the market and their care is already socialized. This is the definition of a manipulated market: privatized gains, socialized losses. The cost to cover for Medicare will drop substantially when the healthy pay for the sick directly the way it’s supposed to work.
- mirimir 8y agoLaws. Unless "you" doesn't mean someone like me. But then I do. Just not exactly legally.
- dmitriid 8y agoconanbatt: you don't get clinical research from universal healthcare HN: wrong, here's why conanbatt: but medical tourism HN: doesn't apply, here are reasons conanbatt: the price goes up because of regulation HN: wrong, here's why conanbatt: what stops you fro buying in Canada --- I haven't seen such blatant shifting of goalposts on HN in a while.
- conanbatt 8y agoYou need to work on your reading skills. Focusing on the last: > conanbatt: the price goes up because of regulation > HN: how did regulation make insulin expensive > conanbatt: what makes you unable to import cheap insulin? > HN: Law
- dmitriid 8y agoYup. Instead of answering the question “how did regulation make insulin expensive” you did what?
- conanbatt 8y agoGive an example
- dmitriid 8y agoIt wasn't an example. Instead of answering, you moved goalposts and asked "why don't you import stuff from Canada". However you look at your "example", it's not good for the US. - Canada has universal healthcare - Canada has government regulations - Despite all that, insulin in Canada costs less than in the US So the original question still remains and is valid: why is insulin in the States so damn expensive? Given that the US is one of the largest insulin manufacturers in the world. And it's produced by literally the same companies.
- conanbatt 8y agoBecause the government grants the insulin manufacturer a monopoly over its citizens and enforces it with the law.
- maxxxxx 8y agoAs far as I know the FDA will stop you.
- conanbatt 8y agoPrecisely...