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Actually, the price of insulin has be going down over time, not up for insured patients. But due to the bizarre regulatory system around healthcare in the US,
by refurb 3y ago
Actually, the price of insulin has be going down over time, not up for insured patients.
But due to the bizarre regulatory system around healthcare in the US, manufacturers were incentivized to increase the list price (public price) all the while dropping the net price (confidential negotiated price with insurers).
This graph halfway down this page sums it up nicely: https://www.drugchannels.net/2020/08/five-top-drugmakers-reveal-list-vs-net.html https://www.drugchannels.net/2020/08/five-top-drugmakers-rev...
- Ekaros 3y agoSeems like lot in USA healthcare could be solved if it was mandated that everyone must get the lowest net price, plus at most some unreasonable margin like 100%.
- refurb 3y agoInterestingly the government tried something similar - out of all the negotiated prices for private insurance, the government has to get the best one. Good idea right? Well it ended up raising prices. Because companies were happy to tell a small insurer with a good price "too bad" so they didn't have to take a massive hit on their government account.