Are Pills Priced Right?
A Wall Street Journal story on Friday morning was called New Push Ties Cost of Drugs to Effectiveness. Sounds similar to pay for performance. What a novel idea. It continues to amaze me how far behind healthcare is compared to other industries. In Health Attitude, I wrote about how Congress precluded Medicare from negotiating with the pharmaceutical industry on the price of drugs. What could be better for Big Pharma? Its largest customer cannot negotiate. Meanwhile, other developed countries in the world pay much less than we do for the same drugs. The Europeans do negotiate. Read more about how Big Pharma influences the cost of American healthcare in Health Attitude.