Not in my humble opinion.
I just read about this idea proposed by health financing researchers out of MIT and Harvard: Financing health care with consumer loans.
They begin their article with what we all know—health care, specifically prescription drugs in this case, costs too much.
We propose a practical way to increase drug affordability through health care loans (HCLs)—the equivalent of mortgages for large health care expenses. HCLs allow patients in both multipayer and single-payer markets to access a broader set of therapeutics, including expensive short-duration treatments that are curative.
When they talk about “curative” drug treatments, they … Continue reading
Last November, with much media coverage, several members of Congress announced the formation of The Affordable Drug Pricing Task Force, promising to “take action to combat the skyrocketing costs of pharmaceuticals.”
Finally! I thought.
Related post: Prices continue to increase for generics
But I haven’t heard much since then.
There was a little noise earlier this month when the House Oversight Committee (of which the task force is a subcommittee, I believe) attempted to grill the now infamous Martin Shkreli about why he thought it was okay to jack up the price of Daraprim from $13 a pill to … Continue reading
We’ve all heard the phrase “cancer kills.”
But guess what? So can the high cost of treatment.
I just read about a study that came out of the Fred Hutchison Cancer Research Center here in Seattle.
The results won’t surprise anyone familiar with how much cancer treatment costs (a lot!), but researchers found:
…cancer patients who go bankrupt are nearly 80 percent more likely to die than patients who don’t, and some cancers had significantly higher mortality rates. Prostate cancer patients who filed for bankruptcy were almost twice as likely to die; bankrupt colorectal cancer patients were 2.5 times more
… Continue reading
November is Alzheimer’s Disease Awareness Month.
It’s hard to find anyone who isn’t aware of—and scared of—dementia**. Or who hasn’t had a family member or friend stricken by it.
Alzheimer’s is a horrible disease that damages not only the individual, but family and friends, as well, especially the primary care giver—most often the spouse.
Adding insult to injury is the incredible cost of getting help. A recent study published in the Annals of Internal Medicine confirms what many already know—Alzheimer’s disease and other forms of dementia cost families way more than almost any other disease.
Why? Cancer is one of … Continue reading
It’s that time of year—open enrollment for health insurance.
If, like me, you buy an individual health plan for yourself or your family, and you have been informed by your insurance company that your current plan will no longer be available, you are once again shopping for a plan that meets both your needs and budget.
The new plan I’ve been offered has both a higher premium and a higher deductible, but as far as I can tell our provider network will remain the same. That’s important, since my husband has a doctor he really likes. I had to change … Continue reading
A few months ago I posted about CYA—Cover Your Ass—medicine being one reason why too many diagnostic tests are ordered and health care costs are high.
CYA medicine is when the doctor or doctors are pretty sure what your problem is, but they order extra scans and x-rays and blood tests anyway because “failure to diagnose” is one of the leading causes of medical malpractice suits. They aren’t going to take any chances, and who can blame them?
Related story from KevinMD: This is why doctors practice cover your ass medicine
Besides, they don’t pay your resulting medical bill, so … Continue reading
I couldn’t help but laugh when I ran across this video from Costs of Care: What if Your Hotel Bill Was Like a Hospital Bill?
I swear I recently had a very similar conversation with a health insurance company regarding the cost of a new wheelchair for my elderly aunt!
Although insurance covered the bulk of the cost (well over $5,000) my aunt still owed close to $2,000. The bill had a list of about 20 items related to the wheelchair, but neither side admitted to knowing anything about exactly what each charge was … Continue reading
A painful but common condition in older adults is shingles or herpes zoster. I’ve known several elderly people afflicted with this, and I will absolutely get the vaccine as soon as I turn 60!
The vaccine, Zostavax, is FDA-approved for ages 50 and up, but the Cleveland Clinic recently advised that it’s not cost effective for anyone under 60 to get immunized.
Why? Because Zostavax is too expensive. On average, it costs about $200, and that doesn’t include the cost for the office visit or vaccine administration that some clinics charge.
The vaccine is effective for 10-12 years, so … Continue reading
A year ago I posted about the worrying trend of generic medications—a mainstay of affordable health care—rising in price by 100%, 200%, 1000% or more. My husband’s levothyroxine, for example, has increased in price by over 600% since 2013.
The common and used-to-be-dirt-cheap antibiotic, doxycycline, has gone up a whopping 6,000%!
Unfortunately, this trend has not stopped.
The latest old-drug, new-price story is that of Daraprim (pyrimethamine). Last month Turing Pharmaceuticals bought this drug and immediately jacked up the price from $13.50 per tablet to $750, an increase of over 5,000%.
The New York Times, I think, had the … Continue reading
Earlier this summer the Food and Drug Administration (FDA) approved the first of a new type of cholesterol-lowering medication, the PCSK9 inhibitors.
The drug companies Sanofi and Regeneron got that honor with their drug Praluent (alirocumab). But not too far behind will be Amgen with Repatha (evolocumab) and Pfizer with borocizumab. (Who names these drugs, anyway?)
Although Praluent is not yet available in pharmacies, its announced price tag has the medical community (and insurers) in an uproar. Pharmaceutical executives are doing their best to rationalize the expense—spend a lot of money up front and maybe save more money down … Continue reading