The decision of controlling pharmaceutical drug prices By: Lee Ann Higgins
Medicine has been around for more than centuries. Through those centuries the world has been evolving. With the evolution came more advanced types of medicines including ibuprofen, antidepressants, and stimulants. Not only are there medications to help fight illnesses like the common cold, but there are now vaccinations. Vaccinations aid your body to become strong enough to battle any virus that comes our way.
The United States is one of the main countries that is involved with prescribed drugs. There is a lot more to this than just the prices themselves. On a website called Marriam Webster, the definition of Biopharmaceutical is “A pharmaceutical derived from biological sources and especially one produced by biotechnology.” In simpler terms, Biopharmaceutical is studying medications and how the human body reacts to it. In order to make profit off biopharmaceutical studies, the organization needs finances to continue their exploration. A website named Drugcostfacts.org states “…the vast majority of pharmaceutical companies and account for 70 percent of the industry’s future clinical pipeline.” These organizations will continue to grow and become part of our future development in working harder to find solutions to many sicknesses.
Several elders and young adults throughout the country have a more difficult time paying for their prescribed medications. The government had to get involved as soon as possible to make sure this did not become an extreme problem. It seems they were not fast enough though. Liam Eng an eleventh grader at Porter Ridge Highschool said “2000 to 2004 were the biggest years hit due to oxy cotton since it was the most bought for abuse and addiction but then they added a thing to it so you couldn’t crush it up so that’s when it started becoming a problem.” This was the first obstacle that was encountered that caused not only the government to jump in, but insurance companies paying more attention to their client’s purchases. A recent news article from CBS has listed on a graph Humira and Creon are medications that have been inflated seven percent. There were many other medications on the CBS article that were less taxing. Medications like Breo Ellipta and Bydureon. The range of taxation based of the CBS article was three percent to a high of seven percent.
Since Humira is one of the highest taxed medicines, many have been skeptical on why. Humira is a medication that has multiple purposes. On the website goodrx.com they state “Humira (adalimumab) is an expensive medication used to treat rheumatoid and psoriatic arthritis. It is also used to treat ankylosing spondylitis, Crohn's disease, and ulcerative colitis.” Medicare covers most expenses, but there are different types of coverage. Deductible is when the patient pays something first before the insurance company gets involved in paying any money left over. Typical coverage is a way for the patient's insurance to pay all the cost. Donut Hole coverage is the insurance waiting for the patient to fulfil what needs to be paid within a certain time span. With Donut Hole coverage the patient is billed more than usual. Post- Donut Hole coverage is when Medicare can help support the patient by paying some of the amount though they do not pay ALL like in typical coverage. Money is the symbol that allows businesses to flourish and it keeps the economy the way it is.
Little changes have been throughout society when it comes to billing. Billing patients more has caused some backfire towards these companies. Some want their prescriptions at a lower cost and will continue to fight for it. Others who either have money or do not need several medications choose to comply. This situation is tough due to societal reasons, but hopefully this will be figured out in no time.
The United States is one of the main countries that is involved with prescribed drugs. There is a lot more to this than just the prices themselves. On a website called Marriam Webster, the definition of Biopharmaceutical is “A pharmaceutical derived from biological sources and especially one produced by biotechnology.” In simpler terms, Biopharmaceutical is studying medications and how the human body reacts to it. In order to make profit off biopharmaceutical studies, the organization needs finances to continue their exploration. A website named Drugcostfacts.org states “…the vast majority of pharmaceutical companies and account for 70 percent of the industry’s future clinical pipeline.” These organizations will continue to grow and become part of our future development in working harder to find solutions to many sicknesses.
Several elders and young adults throughout the country have a more difficult time paying for their prescribed medications. The government had to get involved as soon as possible to make sure this did not become an extreme problem. It seems they were not fast enough though. Liam Eng an eleventh grader at Porter Ridge Highschool said “2000 to 2004 were the biggest years hit due to oxy cotton since it was the most bought for abuse and addiction but then they added a thing to it so you couldn’t crush it up so that’s when it started becoming a problem.” This was the first obstacle that was encountered that caused not only the government to jump in, but insurance companies paying more attention to their client’s purchases. A recent news article from CBS has listed on a graph Humira and Creon are medications that have been inflated seven percent. There were many other medications on the CBS article that were less taxing. Medications like Breo Ellipta and Bydureon. The range of taxation based of the CBS article was three percent to a high of seven percent.
Since Humira is one of the highest taxed medicines, many have been skeptical on why. Humira is a medication that has multiple purposes. On the website goodrx.com they state “Humira (adalimumab) is an expensive medication used to treat rheumatoid and psoriatic arthritis. It is also used to treat ankylosing spondylitis, Crohn's disease, and ulcerative colitis.” Medicare covers most expenses, but there are different types of coverage. Deductible is when the patient pays something first before the insurance company gets involved in paying any money left over. Typical coverage is a way for the patient's insurance to pay all the cost. Donut Hole coverage is the insurance waiting for the patient to fulfil what needs to be paid within a certain time span. With Donut Hole coverage the patient is billed more than usual. Post- Donut Hole coverage is when Medicare can help support the patient by paying some of the amount though they do not pay ALL like in typical coverage. Money is the symbol that allows businesses to flourish and it keeps the economy the way it is.
Little changes have been throughout society when it comes to billing. Billing patients more has caused some backfire towards these companies. Some want their prescriptions at a lower cost and will continue to fight for it. Others who either have money or do not need several medications choose to comply. This situation is tough due to societal reasons, but hopefully this will be figured out in no time.
