Preview

Prescription Drug Cost Pros And Cons

Satisfactory Essays
Open Document
Open Document
310 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Prescription Drug Cost Pros And Cons
Prescription Drug Costs
Should Medicare be allowed to negotiate drug prices? Is the debate in this case Americans on Medicare have out-of-pocket spending tends that increase with age; in 2010, beneficiaries ages 85 and older spent three times more out-of-pocket on services, on average more than beneficiaries ages 65 to 74 ($5,962 vs. $1,926). With prescription drug costs out of control since the Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) drug cost has rosen to 16.9 percent, the pro to the United States govermment negotiating prescription drug cost they can dictate how much Medicare recipates will pay, how much they will pay how often they will pay , Medicare being the largest purchaser

You May Also Find These Documents Helpful

  • Powerful Essays

    Unfortunately, standard economic reasoning does not always apply to health care. According to Chernew & Fendrick (2008), “The price of prescription drugs generally exceeds marginal costs” and “when faced with cost sharing consumers reduce consumption of both high-value and low-value services” (p.…

    • 1191 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    The Prescription drugs industry is one of my national economy important and special industry. It is closely related to people's health and life security, to protect and improve people's health has played a big role. Also, Industry's profit margin is very considerable. On the other hand, Prescription drug is a special kind of products, has a certain sensitivity, for the quality of the products and technology have very strict requirements. Because it is a direct effects on the human body, is closely related to people's health. The particularity of the industry is that ordinary consumers for the quality of the product and generally difficult to recognize and grasp the nature, generally trusted certification authority. Thus, From my perspective,…

    • 126 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    These essays have much evidence to support their claims. Zuger’s use of a personal experience is very heart-felt and passionate. There is no doubt to her claim and support. The only downside to this claim is that this could have just been to the one specific person, not necessarily everyone who takes this pill is going to end up in…

    • 1203 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    This question is difficult to answer for me because I have been in and out of the program for various reasons over a number of years and originally began the program in 2007 right after I got out of the Navy, so I failed to pay much attention to the health care industry at the time to be honest. At the time I was going through some personal struggles that over road all my other trains of thoughts because they affected my life so insanely. In 2006 my medication prices doubled without insurance. Thank God that Publix started giving certain antibiotics out for free with prescriptions during the cold season. They were working on a plan in legislature to make medicine easier to afford. Frencher (2006), “The Medicare Prescription Drug, Improvement, and Modernization Act (MMA) provides universally available prescription drug benefits to elderly and disabled Medicare beneficiaries for the first time” (para. 1).…

    • 308 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The pros of managed care are since the patient is limited to a specific caregiver the premium is lower. The patient only pays a monthly payment and a co-payment. The cons of managed care are that the patients are not allowed to see the doctor of their choice unless the doctor is in their network. The consumers perspective the pros and cons of managed care. The pros from the consumers perspective would be only paying monthly payments that is at a fixed rate. The other would be paying a small co-payment every time they see a doctor. The cons of managed care from a consumers perspective would be that they cannot see the doctor of their choice. The caregiver has to be affiliated with the managed care organization. The pros and cons from a caregivers perspective. The pros would be stability, fewer administrative duties, and better working hours. The cons would be less independence, and possibly a decrease in the income. There are more pros and cons these are just a few of them. From a caregivers perspective they would rather the patient have traditional insurance. The reason for this is because the caregiver is losing money by the patient having managed care. Caregivers get a percentage of the money when they see a patient with traditional insurance. Then there is also more stability and less working hours for the caregiver with managed care. It would be like flipping a coin for the caregiver what would they rather have more money or more time to spend with their family. The consumers perspective it would be in their best interest to have one of the managed care options (HMO,PPO). The reason for this answer is because for the most part most consumers…

    • 394 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Psy/372 Week 3

    • 596 Words
    • 3 Pages

    The community partners all agree that too many Medicare recipients have difficulty with the cost of medications, even with Medicare advantage plans. Patients that can afford their medications are more compliant, will likely have decreased complications and healthier outcomes than those that cannot afford their medications. This means better outcomes for the community partners.…

    • 596 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    “Last February, the price of Evzio, an auto-injected drug that is used to treat opioid overdose, jumped to over $4,000 — from just $690 in 2014 — just as demand for the medicine was quickly rising.” states the AARP (American Association of Retired Persons). Price hikes for prescription drugs have become a recurring problem. They’ve gotten so expensive that many people can’t afford them, and they seem to only be getting more expensive. Though many would argue that it’s a business’ choice if they want to raise the price of their product, it’s dangerous to allow them to do so. Pharmaceutical companies should have a set price limit, otherwise the skyrocket of prices hurt those who rely on the now expensive drugs.…

    • 560 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Medicare like all health insurers is constantly looking for ways to avoid paying for unnecessary medical care. The latest attempt sounds perfectly reasonable until you consider who will bear the burden.…

    • 1804 Words
    • 8 Pages
    Powerful Essays
  • Better Essays

    Medicare Pros And Cons

    • 1313 Words
    • 6 Pages

    Medicare is a federal health insurance program. There are many parts to Medicare. Each section represents different things such as.. Part A is for hospital insurance, Part B is for supplemental insurance, Part C which is the Medicare Advantage Program , and Part D which provides access to prescriptions. Medicare also has Medigap which assist the beneficiaries with paying for insurance. Medicare is usually for those that are for people who are 65 or older, certain younger people with disabilities. Also some individuals with end stage renal disease.…

    • 1313 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The world of today and the Brave New World may be more alike than some would have thought. After reading the book and studying the elements within it, I see one thing that is getting us closer to a society like the Brave New World; drugs. Now some people would say I’m crazy for saying this, that there is no way that people of 2017 are that deep into drugs for me to be comparing us to citizens of the brave new world, but those types of people are ones whose minds are not open to new ideas.…

    • 517 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Health care has become very expensive to the older population and the younger population. The spending cost for senior citizens has sky rocketed. With the changes made to Medicare and Medicaid older population cannot keep up with the cost and extras expenses that are needed to see the doctors and pay for the medications. Some of the physicians and hospitals are not accepting Medicare or Medicaid recipients because the plans that most individuals have doesn’t coverage and or the physician doesn’t only get a certain amount from the insurances carriers that doesn’t cover the cost the providers have given the Medicare/Medicaid patients. Some physicians are helping the Medicare/Medicaid patients by supplying extra samples of medications to help with not being able to affordable the cost of medicine. With the aging population, new and improve technology, the out of pocket expenses along with the having to pay for the medication and having a copay it is impossible…

    • 1540 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Obamacare leaves the Medicare payment system defective in its place, leaving no solution to the perpetual problem faced by Medicare physicians, the flawed physician payment system. Doctors expected the government to find a solution to this problem, but the government did not. Doctors will now have to rely on unreliable government reimbursement for medical services they provide. Now, doctors will have to face the threat of payment cuts that make their work harder and more stressful than it already is. By 2014, doctors are facing a cut of 25 percent of payments unless Congress passes a law to stop this. Obamacare also imposes more rules, regulations and restrictions to physicians. According to Senger (2013) , " Since 2010, with few exceptions, the law prohibited physicians from referring Medicare patients to hospitals in which they have ownership. Thus, a whole class of physician-owned, specialty hospitals has been removed from competition, even though they enjoyed an undisputed record of providing high-quality patient care.’…

    • 977 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Medicaid Pros And Cons

    • 839 Words
    • 4 Pages

    “Our Nation is accomplishing more for its people than it has ever been accomplished before,” (Johnson 6). In 1964 President Lyndon B. Johnson was elected president and as president he passed the Social Security Act of 1965, which resulted in the creation of Medicaid. The only medical converge the Americans were given before the act was provided by businesses or the program only covered elders. Medicaid became one of the first programs to provide coverage for a variety of people. Although Medicaid is taken advantage of it is more beneficial because each state can create programs that are beneficial for the people, the states and government are in charge of the finances, and explored ways to provide more opportunities for people to afford medical…

    • 839 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Health Care Costs

    • 707 Words
    • 2 Pages

    My family has an insurance plan that covers most of our health care costs. However, there are some things that insurance will not cover. These are things that my family has to pay for ourselves. These things include contacts for eyes, glasses repair, tooth paste, tooth brushes, floss, pills, medicine, tinctures, and blood tests. However, even though insurance doesn’t pay for our tooth paste, tooth brushes, and floss, we still get them for free, because my aunt is a dental hygienist. She gets free tooth brushes, tooth paste, and floss from the clinic she works in all the time. It is enough to provide for her entire family, even the extended family. It is also enough to provide for hundreds of people in poverty in other countries, that is why I take hundreds of toothbrushes, tooth pastes, and floss with my every summer when I go on a missions trip to a foreign country, and it’s free!…

    • 707 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Medicare provides healthcare coverage to tens of millions of Americans, making it one of the country’s most important social programs. With each year to the next, the government makes a few changes to the way the program works, making it important for recipients alike to keep up with what’s current. If you qualify for "free" Medicare Part A, which takes care of inpatient services such as trips to the hospital, then your costs will stay the same in 2017. Recipients who pay premiums for Part A will see their costs increased modestly next year. The maximum cost for coverage is to increase to $413.00 in 2017, and up to $411.00 in 2016.…

    • 214 Words
    • 1 Page
    Good Essays