Sylvia Romm, MD, MPH’s Post

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Founder and Chairperson, Physician and Healthcare Executive | Telehealth, SDoH, Virtual Care

How the Pharmaceutical Industry Fuels US Healthcare Costs As healthcare professionals, we need to decisively address a major driver of soaring healthcare costs in the US - the pharmaceutical industry. Our patent system, while designed to incentivize innovation, too often breeds monopolistic practices. Exclusive rights granted to drug manufacturers lead to unfettered pricing power (Source 1). Let's challenge this system and foster innovation without compromising affordability. The lack of stringent price regulation is a glaring anomaly of the US healthcare scene. The liberty pharmaceutical companies have to set their own prices without competition or governmental scrutiny is a recipe for unsustainable cost escalation (Source 2). We need effective regulations that protect consumer interests. Direct-to-consumer advertising, a practice largely unique to the US, encourages the consumption of higher-priced drugs (Source 3). It's high time we review this strategy - should marketing ever override patient needs? And let's not forget Pharmacy Benefit Managers (PBMs). These intermediaries, while ostensibly streamlining the negotiation of drug prices, often contribute to price hikes (Source 1). Increased transparency is a must. Colleagues, it's time we take a stand. Let's leverage our collective influence to advocate for systemic changes. How do you propose we tackle the high cost of prescription drugs? What potential reforms do you envision? The future of an efficient, equitable, and patient-centered healthcare system relies on our actions. Share your thoughts, and let's incite change together. #USHealthcare #PharmaCosts #HealthcareReform Sources: "The High Cost of Prescription Drugs in the United States," JAMA "Why Are Drug Prices So High in the United States?" BMJ "Direct-to-Consumer Advertising in Oncology," The Oncologist

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Pharmaceuticals provide most of the therapeutic benefit to a patient, yet constitute only about 10% of the total cost of healthcare in the US. On that basis, pharmaceuticals are a relative bargain when compared to the cost/benefit of labor in healthcare. The simple solution here is to decrease demand - particularly for pharmaceuticals used to treat preventable, chronic conditions. It's really easy to demonize industry. It's not particularly helpful - or accurate - to do so.

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