U.S. insulin costs per patient nearly doubled from 2012 to 2016, study finds
The cost of insulin for treating Type 1 diabetes in the United States nearly doubled over a recent five-year period, underscoring a national outcry over rising drug prices, according to a new analysis.
A patient with Type 1 diabetes incurred annual insulin costs of $5,705, on average, in 2016. The average cost was roughly half that, at $2,864 per patient, in 2012, according to a report released on Tuesday by the nonprofit Health Care Cost Institute.
The figures represent the combined amount paid by a patient and their health plan for the medicine and do not reflect rebates paid at a later date.
(Score: 0) by Anonymous Coward on Wednesday January 23 2019, @04:20PM (11 children)
"Drugmakers say they periodically need to raise U.S. list prices of their medications to help offset steep rebates they must offer to get them covered by insurance plans"
So if this is true, it is the insurers who are to blame
(Score: 3, Insightful) by HiThere on Wednesday January 23 2019, @05:43PM (9 children)
Yes, IF this is true. But why would you believe them? What evidence do they offer? How transparent are their finances?
Javascript is what you use to allow unknown third parties to run software you have no idea about on your computer.
(Score: 1, Insightful) by Anonymous Coward on Wednesday January 23 2019, @09:07PM (8 children)
When they say 'rebates', that's probably a euphemism for kickbacks.
Basically, insurance company comes in and you offer your product for $10, but then 'Bruce' offers his for $100. But, 'Bruce' is shrewd and puts $50 worth of unmarked bills in a brown paper bag and casually leaves it on the seat after a lunch meeting with the insurance company about their next supply contract. He does this every year, for as long as his product is chosen for tender.
Lo and behold, the insurance company always goes with 'Bruce' for some reason.
You get wind of this and start thinking, ok, I'll charge $150, but I'll put $100 in the brown paper bag. See where this is going?
(Score: 2) by PartTimeZombie on Thursday January 24 2019, @01:22AM (7 children)
Bruce seems to be really good at convincing Rubes that he's acting in their best interests too, based on some of the scorn for "socialized" medicine on Soylent News today.
(Score: 0) by Anonymous Coward on Thursday January 24 2019, @01:42AM (6 children)
People from other countries complain about how the us government messes up everything around the world, then wonder why people in the us dont want them deciding which medical treatments, etc are available. It really is not difficult to understand.
(Score: 2) by PartTimeZombie on Thursday January 24 2019, @02:05AM (5 children)
Apparently it is really hard to understand that proper taxpayer funded healthcare does not work like that.
Doctors decide what treatments are available. Politicians provide the money.
Now it's your turn to explain how I'm wrong, and the Minister of Health goes around all the hospitals making sure the doctors don't don't give people too many injections.
(Score: 0) by Anonymous Coward on Thursday January 24 2019, @03:44AM (4 children)
I have no personal experience with the NHS but just using common sense I knew this would be the case:
https://www.theguardian.com/society/2009/oct/21/nice-nhs-drug-approval [theguardian.com]
(Score: 2) by dry on Thursday January 24 2019, @06:55AM (3 children)
Perhaps they have evidence rather then propaganda? I live close enough to America that I get their media. Endless commercials pushing drugs. If the $1000 medicine is basically the same as the $100 medicine, which should the government pay for. Same as if something is hopeless such as advanced Alzheimer's.
I think in the States, it's the same except it's the insurance industry making the decision, with some corruption thrown in.
(Score: 0) by Anonymous Coward on Thursday January 24 2019, @11:26AM (2 children)
The point is that under the NHS, the government decides what treatments are available.
(Score: 2) by dry on Thursday January 24 2019, @05:00PM (1 child)
And under private insurance, the private company decides what treatments are available. As private industry is usually more inefficient due to needing to make a profit and pay its executives bonuses and golden parachutes, the government by default is a better choice. If you disagree, well you do have the choice of private.
(Score: 0) by Anonymous Coward on Thursday January 24 2019, @06:30PM
Oh yea. Health insurance is a huge scam. It is much cheaper not to use it. I would like to get a really high deductible plan for really cheap. I mean like a couple hundred dollars/year with a $20-100k deductible, but that doesn't exist because it would make too much sense.
(Score: 2) by stretch611 on Thursday January 24 2019, @07:26AM
Yes, because after all, the drug companies are all bleeding out money and are being forced into bankruptcy.
Now with 5 covid vaccine shots/boosters altering my DNA :P