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Prescription Drug Prices In The United States
Prescription drug list prices in the United States continually rank among the highest in the world. The high cost of prescription drugs became a major topic of discussion in the 21st century, leading up to the American health care reform debate of 2009, and received renewed attention in 2015. One major reason for high prescription drug prices in the United States relative to other countries is the inability of government-granted monopolies in the American health care sector to use their bargaining power to negotiate lower prices and that the American payer ends up subsidizing the world's R&D spending on drugs. According to a comprehensive 2021 review of the existing literature, the United States had higher prescription drug prices than all 32 comparison countries. The United States had 256% higher prescription drug prices than the comparison countries. History Pharmaceutical drugs are the only major health care service in which the producer is able to set prices with littl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prescription Costs
Medication costs, also known as drug costs are a common health care cost for many people and health care systems. Prescription costs are the costs to the end consumer. Medication costs are influenced by multiple factors such as patents, stakeholder influence, and marketing expenses. A number of countries including Canada, parts of Europe, and Brasil use external reference pricing as a means to compare drug prices and to determine a base price for a particular medication. Other countries use pharmacoeconomics, which looks at the cost/benefit of a product in terms of quality of life, alternative treatments (drug and non-drug), and cost reduction or avoidance in other parts of the health care system (for example, a drug may reduce the need for a surgical intervention, thereby saving money). Structures like the UK's National Institute for Health and Clinical Excellence and to a lesser extent Canada's Common Drug Review (a division of the Canadian Agency for Drugs and Technologies in H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Usual, Customary And Reasonable
Usual, customary, and reasonable (UCR) is an American method of generating health care prices, described as "more or less whatever doctors decided to charge". According to Steven Schroeder, Wilbur Cohen inserted UCR into the Social Security Act of 1965 "in an unsuccessful attempt to placate the American Medical Association". Health insurers determine what they deem to be "usual, customary and reasonable" and pay only a percentage of that. Under an early version of this system based on Resource-Based Relative Value Units, physician services were largely considered to be misvalued, with evaluation and management services being undervalued and procedures overvalued. Third-party payers (public and private health insurance) advocated for an improved model instead of the UCR fees that led to "some egregious distortions". In the mid-1980s, U.S. health care "payments for doing procedures had far outstripped payments for diagnosis". For example, "doctors who spent an hour making a complex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand-name
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands. The practice of branding - in the original literal sense of marking by burning - is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding as early as 2,700 BCE. Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a product or compa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Out-of-pocket Expenses
An out-of-pocket expense (or out-of-pocket cost, OOP) is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip. Car insurance, oil changes, and interest are not, since the outlay of cash covers expenses accrued over a longer period of time. The services rendered and other in-kind expenses are not considered out-of-pocket expenses; the same goes for depreciation of capital goods or depletion. Organizations often reimburse out-of-pocket expenses incurred on their behalf, especially expenses incurred by employees on their employers' behalf. In the United States, out-of-pocket expenses for such things as charity, medical bills, and education may be deductions on US income taxes, according to IRS regulations. To be out of pocket is to have expended personal resources, often unexpectedly or unfairly, at the end of some ent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medicare Part D Coverage Gap
The Medicare Part D coverage gap (informally known as the Medicare donut hole) was a period of consumer payments for prescription medication costs that lied between the initial coverage limit and the catastrophic coverage threshold when the consumer was a member of a Medicare Part D prescription-drug program administered by the United States federal government. The gap was reached after a shared insurer payment - consumer payment for all covered prescription drugs reached a government-set amount, and was left only after the consumer had paid full, unshared costs of an additional amount for the same prescriptions. Upon entering the gap, the prescription payments to date were re-set to $0 and continued until the maximum amount of the gap was reached or the then current annual period lapses. In calculating whether the maximum amount of gap had been reached, the "True-out-of-pocket" costs (TrOOP) were added together. A health insurance company provided this explanation about TrOOP: ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession
The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. One result was a serious disruption of normal international relations. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012. When housing prices fell and homeowners began to abandon their mortgages, the value of mortgage-backed securities held by investment banks declined in 2007–2008, causing several to collapse or be bailed out in September 2008. This 2007–2008 phase was called the subprime mortgage crisis. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patient Protection And Affordable Care Act
The Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act and colloquially known as Obamacare, is a landmark U.S. federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act of 2010 amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the enactment of Medicare and Medicaid in 1965. The ACA's major provisions came into force in 2014. By 2016, the uninsured share of the population had roughly halved, with estimates ranging from 20 to 24 million additional people covered. The law also enacted a host of delivery system reforms intended to constrain healthcare costs and improve quality. After it went into effect, increases in overall healthcare spending slowed, including premiums for employer-based insurance plans. The increased coverage was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Families Plan
The Build Back Better Plan or Build Back Better agenda was a legislative framework proposed by U.S. president Joe Biden between 2020 and 2021. Generally viewed as ambitious in size and scope, and even after it was reduced in size, it became the largest nationwide public investment in social, infrastructural, and environmental programs since the 1930s Great Depression-era policies of the New Deal. The Build Back Better plan was divided into three parts: * American Rescue Plan (ARP), a COVID-19 pandemic-relief bill; * American Jobs Plan (AJP), a proposal to address long-neglected infrastructure needs and reduce America's contributions to destructive effects of climate change; and *American Families Plan (AFP), a proposal to fund a variety of social policy initiatives, some of which (e.g., paid family leave) had never before been enacted nationally in the U.S. The first part was passed as the $1.9 trillion American Rescue Plan Act of 2021, and was signed into law in March 2021. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elijah Cummings Lower Drug Costs Now Act
The Elijah Cummings Lower Drug Costs Now ActH.R. 3 is proposed legislation in the 117th United States Congress. The bill is designed to lower prescription drug costs in the United States. Notably, the law gives the federal government the power to negotiate prescription drug prices. The legislation takes the name of late Maryland Representative Elijah Cummings. Background The United States spends more money on prescription drugs than any other developed nation in the world. In 2020 alone, the United States spent $358.7 Billion on prescription drugs. The United States does not guarantee universal healthcare coverage to its citizens. This means that individuals that do not have health insurance or are underinsured will have to pay either the full price of the drugs, or a still large amount of the money. Most people who have health insurance still have to pay at least some money towards prescription drugs, and some drugs may not be covered by health insurance at all. Several pol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medicare Prescription Drug Price Negotiation Act Of 2007
In January 2007, the 110th United States House of Representatives approved , the Medicare Prescription Drug Price Negotiation Act, a bill to require federal officials to negotiate with drug companies for lower prices for the 23 million senior citizens who have signed up for Medicare's prescription drug coverage. The bill was never passed into law. It would have repealed a ban on letting the government negotiate with manufacturers for lower prices — a provision that was part of the GOP-sponsored 2003 measure called the Medicare Prescription Drug, Improvement, and Modernization Act The Medicare Prescription Drug, Improvement, and Modernization Act, also called the Medicare Modernization Act or MMA, is a federal law of the United States, enacted in 2003. It produced the largest overhaul of Medicare in the public health progr ..., which created the prescription drug program. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kaiser Family Foundation
KFF (Kaiser Family Foundation), also known as The Henry J. Kaiser Family Foundation, is an American non-profit organization, headquartered in San Francisco, California. It prefers KFF since its legal name can cause confusion as it is no longer a foundation or a family foundation, and is not associated with Kaiser Permanente. KFF focuses on major health care issues facing the nation, as well as U.S. role in global health policy. KFF states that it is a non-partisan source of facts and analysis, polling and journalism for policymakers, the media, the health care community, and the general public, and its website has been heralded for having the "most up-to-date and accurate information on health policy" and as a "must-read for healthcare devotees." Current activities Policy analysis and polling KFF publishes analysis, polling and journalism about health-care issues, and states that much of its work especially concerns persons with low income or those who are otherwise especially ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Think Tank
A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governmental organizations, but some are semi-autonomous agencies within government or are associated with particular political parties, businesses or the military. Think-tank funding often includes a combination of donations from very wealthy people and those not so wealthy, with many also accepting government grants. Think tanks publish articles and studies, and even draft legislation on particular matters of policy or society. This information is then used by governments, businesses, media organizations, social movements or other interest groups. Think tanks range from those associated with highly academic or scholarly activities to those that are overtly ideological and pushing for particular policies, with a wide range among them in terms of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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