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That’s the matter of a U.S. Senate listening to final week. One individual testifying was an economist, USC Professor Darius Lakdawalla. Whereas his full testimony is right here, his key factors of rivalry are price studying. These embody:
- The problem for public coverage is to maintain the tempo of medical innovation whereas making certain that precious new applied sciences stay inexpensive and accessible.
- The U.S. is by far the most important marketplace for prescription drugs on the earth and the engine of world pharmaceutical innovation. Different international locations, in impact, free trip off the innovation stimulated by the American market.
- Regardless of steady or falling web costs paid to prescription drug producers over the previous decade novel medicines lie more and more past the monetary attain of American sufferers.
- Blunt worth controls aren’t the answer to the worsening affordability of prescribed drugs or to international free-riding: Schaeffer Middle analysis means that introducing European-style pricing insurance policies would cut back People’ life expectancy.
- As a substitute, aligning drug costs with the precise worth offered to sufferers stimulates innovation that advantages sufferers and discourages innovation that doesn’t.
- Laws to extend drug worth transparency, coupled with higher details about worth,
will help payers and customers spend their cash properly. - Reasonably priced and beneficiant insurance coverage for prescribed drugs ensures that medicine stay inside the
monetary attain of American households.
You possibly can learn the complete testimony right here, stuffed with hyperlinks to attention-grabbing articles.
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