Dramatic savings are expected from the program. The Congressional Budget Office estimates negotiations directly between Medicare and drug makers could reduce spending by $3.7 billion in its first year and save more than $100 billion over the next decade. But even more importantly, it could save lives. According to a report prepared by the research arm of drug distributor AmerisourceBergen for West Health, 112,000 seniors could die prematurely each year because drug prices and associated costs are so high that they can’t afford their medication.
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“Big Pharma’s high drug prices are killing us, fueling a public health and humanitarian crisis of its own,” Lash says. “Giving Medicare the power to negotiate is an important step, but we can’t lose sight of the fact that more reforms are needed. Anti-competitive behavior in healthcare is a burden for 2everyone, regardless of their politics.”
“Big Pharma’s high drug prices are killing us, fueling a public health and humanitarian crisis of its own,” Lash says. “Giving Medicare the power to negotiate is an important step, but we can’t lose sight of the fact that more reforms are needed. Anti-competitive behavior in healthcare is a burden for 2everyone, regardless of their politics.”
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The new West Health-Gallup survey shows 83% of Americans favor price negotiations between Medicare and pharmaceutical companies, including 95% of Democrats, 76% of Independents and 75% of Republicans. Similar levels of support were consistent across age, race, gender, income levels and education.
Dramatic savings are expected from the program. The Congressional Budget Office estimates negotiations directly between Medicare and drug makers could reduce spending by $3.7 billion in its first year and save more than $100 billion over the next decade. But even more importantly, it could save lives. According to a report prepared by the research arm of drug distributor AmerisourceBergen for West Health, 112,000 seniors could die prematurely each year because drug prices and associated costs are so high that they can’t afford their medication.
“Big Pharma’s high drug prices are killing us, fueling a public health and humanitarian crisis of its own,” Lash says. “Giving Medicare the power to negotiate is an important step, but we can’t lose sight of the fact that more reforms are needed. Anti-competitive behavior in healthcare is a burden for 2everyone, regardless of their politics.”
The new West Health-Gallup survey shows 83% of Americans favor price negotiations between Medicare and pharmaceutical companies, including 95% of Democrats, 76% of Independents and 75% of Republicans. Similar levels of support were consistent across age, race, gender, income levels and education.
