Pharmaceutical Cost and Profit, Across Borders
As I have said a few times, discussions involving pharma pricing can get quite passionate. This short video clip accurately depicts the intense sentiments that drive negotiations intended to lower pharmaceutical cost.
It also touches on pharmaceutical price regulations scheme discrepancies that exist between countries. While the last post, which talked about factors influencing payer policy, alluded to different referential pricing in Europe, this video clearly shows that pharmaceutical regulations in Canada and America have the issue of pharmaceutical price controls open to debate by industry regulators.
Around the 1:00 minute mark of the video, Peter DeFazio paints a telling picture about the implications of lacking pharmaceutical cost regulations for ordinary citizens. Whether or not I agree with the rant, one thing is sure: As the baby boomer demographic inevitably ambles towards old age, pharmacy prescriptions will continue to be doled out, but at what cost?
Robust pharma pricing strategy, in the form of high quality reimbursement and market access case studies and reports must be available to arm industry, health care policy makers, and health technology assessment professionals alike, must educate themselves, – most easily done by perusing a high array of written reports and case studies on innovative pharmaceutical price regulation case studies.