Re: The Biotech Tide is Going Out
If one checks the percentage of healthcare costs attributed to drugs, it is 14%. What was it in the 60’s, my info says it was 14%.
When you check out the biotechs R&D, it will reduce healthcare costs in spite of the costs and if if you don’t let money flow into that research, than one would be shooting ones self in the foot.
That being said, there are several generics that have skyrocketed in price for no legitimate reason and some would absolutely shock you. Epi-pen is just one of many glaring examples, but I could give you even more glaring examples. The pbm’s which in theory should be a watch dog to keep prices in check are one of many factors which actually encourage the practice, because they make major bank on these inflated pigs and don’t do anything except act as a middleman with their hands out. PBM’S are crooked as Lombard street and that as well as vastly inflated GENERIC drugs need to get stepped on.
Another area needing major reform is how much of your personal healthcare dollars are spent in the last 2 months of life in what most cases is a miserable existence and much of that is spent at the insistence of family members who in order to feel better about themselves and impending death insist on heroic measure that in most cases fail and do nothing to improve quality of life. The cases where benefits could be accrued are usually identifiable.