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The NHS manages to negotiate some of the best drug prices in the world. I bet drug companies just love the opposite of Medicare and nationalised health. As I un
by andy_ppp 5y ago
The NHS manages to negotiate some of the best drug prices in the world. I bet drug companies just love the opposite of Medicare and nationalised health. As I understand it other countries have an agency that stops drugs coming into the market if their cost doesn’t justify their improvement in outcomes. America just lets all drugs that are safe come onto the market at any price. https://www.vox.com/platform/amp/science-and-health/2016/11/30/12945756/prescription-drug-prices-explained https://www.vox.com/platform/amp/science-and-health/2016/11/...
- rswail 5y agoAustralia allows drugs on the market if they pass the TGA (our FDA) approval process. Our PBS, the Pharmaceutical Benefits Scheme, which subsidizes drugs, is similar to the UK's NICE, which evaluates drugs to compare their price to the effectiveness in terms of QALY (Quality Adjusted Life Years) and other metrics. The PBS then negotiates with the drug manufacturer, who either meet the government's price, or don't. If they don't, then the drug is not subsidized. So it's in the manufacturer's interest to get a large purchaser to buy the drug.