Drug Costs

[Parsi]

Why Our Drugs Cost So Much
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I hope above link works.
The information probably doesn't surprise anyone, but it spells it out.

[Sunshine]

Link is broken !

[agate]

This may be the link:

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Interesting how very well the pharma companies are doing....

[Howie]

My dad worked for a big pharma company. But not involved with anything sinister. He went to drugstores and pharmacies and would send in their requests for any drugs they needed. He was a very smart man, and a great dad.

[Sunshine]

That is so sweet Howie.

[Virginia]

Parsi and Agate - thanks for the link to this article. It is a good article in explaining what is going on. I wish everyone, even if they take no medications, had to read it.

[Earth Mother 2 Angels]

((((((Hugs to All)))))) ~

This comes as no surprise to us, as we progress through Jim's cancer journey. If he had been able to remain on Opdivo, the annual cost for treatment is $150,000.

It's just obscene. And I fear it will only get worse under the current administration.

We're also learning how much his CT scans and MRI cost, his biopsy, his PET scan. Thousands of dollars from $8k to $12k. Medicare pays a pittance of the cost. We still can't figure out how this works. Hospital charges X, Medicare approves X amount, then Medicare pays 10% or less of the actual cost. ????

If only we could all be healthy, er, I mean ... wealthy.



Love & Light,

Rose

[Sunshine]

Earth Angel

Medicare sets the price and it is called the allowable.if the doc or facility is a Medicare provider, they HAVe TO accept the allowable as their price. So, if the allowable is $100 and the docs fee is $500, he can only charge $100 for the fee.

Then, if you met your deductible that year, which is usually pretty low, Medicare picks up a percentage of the allowable of $100. Lets say it's 80%. If you have Medicare supplement insurance, let's say with BCBS or UHC, they pick up the remaining 20% and you pay zilch.

But if you don't have supplement insurance, then YOU pick up the remaining balance of 20% of the $100, which in this example, would be $20.00

If you have no Medicare or other insurance, you are stuck with the docs full fee of $500

Drug coverage, though is different in terms of percentage you pay. But the idea is the same. Medicare sets the prices to some extent.

[agate]

Earth Angel

Medicare sets the price and it is called the allowable.if the doc or facility is a Medicare provider, they HAVe TO accept the allowable as their price. So, if the allowable is $100 and the docs fee is $500, he can only charge $100 for the fee.

Then, if you met your deductible that year, which is usually pretty low, Medicare picks up a percentage of the allowable of $100. Lets say it's 80%. If you have Medicare supplement insurance, let's say with BCBS or UHC, they pick up the remaining 20% and you pay zilch.

But if you don't have supplement insurance, then YOU pick up the remaining balance of 20% of the $100, which in this example, would be $20.00

If you have no Medicare or other insurance, you are stuck with the docs full fee of $500

Drug coverage, though is different in terms of percentage you pay. But the idea is the same. Medicare sets the prices to some extent.

And if you have Medicaid, it usually picks up the balance that Medicare doesn't pay.

[Parsi]

But the main problem, is what the companies decide to charge in the first place. Very little to do with what it costs to develop, produce and bring to market. They are not satisfied with a small reasonable profit.

[stillstANNding]

A friend of Mom's took his sister on a cruise. On the 3rd day out he asked her why she wasn't taking her insulin! She forgot
to pack it!

Twelve days of insulin cost $400 on the ship!
ANN

[Catdancer]

I've known other people who forget to pack their meds! Meds and other related supplies are the first items on my list! I can do without a change of clothes,or extra shoes, but not the meds!

[Virginia]

I am like Cat on this one. Meds were the first thing I think about when I was traveling.

[Sunshine]

Even going to the grocery store, I bring emergency Tizanidine and Baclofen as well as rescue inhaler. Geez...

[stillstANNding]

Me too, Bbs, I have Tegretol, baclofen, clonazepam and gabapentin in a pill case in my purse.
ANN