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Thread: Drug Costs

  1. #1
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    Default Drug Costs

    Why Our Drugs Cost So Much
    http://www.aarp.org/health/drugs-sup...g-pricing.html

    I hope above link works.
    The information probably doesn't surprise anyone, but it spells it out.
    Last edited by Moderator #7; 05-16-2017 at 10:09 AM. Reason: Fixed link :)

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    Default

    Link is broken !

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    Distinguished Community Member agate's Avatar
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    This may be the link:

    http://www.aarp.org/health/drugs-sup...g-pricing.html

    Interesting how very well the pharma companies are doing....
    There is nothing like staying at home for real comfort.
    --Jane Austen, Emma

    MS diagnosed 1980. Avonex 2002-2005. Copaxone 6/07-5/15/10. Member of MS forum here since 2001.

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    Distinguished Community Member Howie's Avatar
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    My dad worked for a big pharma company. But not involved with anything sinister. He went to drugstores and pharmacies and would send in their requests for any drugs they needed. He was a very smart man, and a great dad.

    Do not take life too seriously. You will never get out of it alive. Elbert Hubbard

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    That is so sweet Howie.

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    Parsi and Agate - thanks for the link to this article. It is a good article in explaining what is going on. I wish everyone, even if they take no medications, had to read it.
    Virginia

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    Distinguished Community Member Earth Mother 2 Angels's Avatar
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    Thumbs down

    ((((((Hugs to All)))))) ~

    This comes as no surprise to us, as we progress through Jim's cancer journey. If he had been able to remain on Opdivo, the annual cost for treatment is $150,000.

    It's just obscene. And I fear it will only get worse under the current administration.

    We're also learning how much his CT scans and MRI cost, his biopsy, his PET scan. Thousands of dollars from $8k to $12k. Medicare pays a pittance of the cost. We still can't figure out how this works. Hospital charges X, Medicare approves X amount, then Medicare pays 10% or less of the actual cost. ????

    If only we could all be healthy, er, I mean ... wealthy.



    Love & Light,

    Rose
    Mom to Jon, 47, (seizure disorder; Gtube; trache; colostomy; osteoporosis; hypothyroid; enlarged prostate; lymphedema, assorted mysteries) and Michael, 32, (intractable seizures; Gtube), who were born with an undiagnosed progressive neuromuscular disease and courageous spirits. Our Angel Michael received his wings in 2003 and now resides in Heaven. Our Angel Jon lives at home with me and Jim, the world's most wonderful dad.

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    Earth Angel

    Medicare sets the price and it is called the allowable.if the doc or facility is a Medicare provider, they HAVe TO accept the allowable as their price. So, if the allowable is $100 and the docs fee is $500, he can only charge $100 for the fee.

    Then, if you met your deductible that year, which is usually pretty low, Medicare picks up a percentage of the allowable of $100. Lets say it's 80%. If you have Medicare supplement insurance, let's say with BCBS or UHC, they pick up the remaining 20% and you pay zilch.

    But if you don't have supplement insurance, then YOU pick up the remaining balance of 20% of the $100, which in this example, would be $20.00

    If you have no Medicare or other insurance, you are stuck with the docs full fee of $500

    Drug coverage, though is different in terms of percentage you pay. But the idea is the same. Medicare sets the prices to some extent.

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  17. #9
    Distinguished Community Member agate's Avatar
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    Quote Originally Posted by BBS1951 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Earth Angel

    Medicare sets the price and it is called the allowable.if the doc or facility is a Medicare provider, they HAVe TO accept the allowable as their price. So, if the allowable is $100 and the docs fee is $500, he can only charge $100 for the fee.

    Then, if you met your deductible that year, which is usually pretty low, Medicare picks up a percentage of the allowable of $100. Lets say it's 80%. If you have Medicare supplement insurance, let's say with BCBS or UHC, they pick up the remaining 20% and you pay zilch.

    But if you don't have supplement insurance, then YOU pick up the remaining balance of 20% of the $100, which in this example, would be $20.00

    If you have no Medicare or other insurance, you are stuck with the docs full fee of $500

    Drug coverage, though is different in terms of percentage you pay. But the idea is the same. Medicare sets the prices to some extent.
    And if you have Medicaid, it usually picks up the balance that Medicare doesn't pay.
    There is nothing like staying at home for real comfort.
    --Jane Austen, Emma

    MS diagnosed 1980. Avonex 2002-2005. Copaxone 6/07-5/15/10. Member of MS forum here since 2001.

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  19. #10
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    But the main problem, is what the companies decide to charge in the first place. Very little to do with what it costs to develop, produce and bring to market. They are not satisfied with a small reasonable profit.

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