Reference no: EM13332883
Part -1:
The rise in costs of prescription medicines affects all sectors of the health care industry, including private insurers, public programs, and patients. Spending on prescription drugs continues to be an important health care concern, particularly in light of rising pharmaceutical costs, the aging population, and increased use of costly specialty drugs. In recent history, increases in prescription drug costs have outpaced other categories of health care spending, rising rapidly throughout the latter half of the 1990s and early 2000s. While the rate of growth in spending has slowed somewhat, it is projected to exceed the growth rates for hospital care and other professional services in 2010 and through 2019.
• What are the arguments for and against the different proposals to constrain prescription drug costs?
• Are there measures that the government could take to encourage companies to conduct research and development and still control the costs of pharmaceuticals? How is it done in other nations?
Lets discuss in depth and with data!!!! Let us begin.
Part -2:
Government's role in Medicare drug prices:A major issue currently under debate involves the appropriate role for government regarding drug prices for Medicare beneficiaries under the Part D drug benefit. The law specifically prohibits the government from participating in negotiations between the drug plan sponsors and drug manufacturers and pharmacies, establishing any specific list of drugs that will be covered (formulary), or imposing any price controls on drugs. Supporters of this market-based approach believe that the competition for enrollees will cause plans to negotiate with drug manufacturers and pharmacies to offer drugs at the lowest possible prices, while opponents state that the lack of federal regulation and negotiating power will lead to higher costs for Medicare and for Medicare beneficiaries, many of whom still face sizable out-of-pocket costs for prescription medications.
• Are there measures that the government could take to encourage companies to conduct research and development and still control the costs of pharmaceuticals? How is it done in other nations?
• How will the PPACA affect prescription drug costs and spending for patients and industry? Write a three page paper explaining your postion. Site your sources and APA Rules apply.