The high price of prescription drugs is a major problem for people. People may not be able to afford expensive prescription medications, which can make it difficult for them to receive the necessary treatment. These are just a few examples of healthcare issues that can be caused by high costs.
- Affordable: Even those with health insurance cannot pay the expensive cost of prescription medications. It can cause people to ration medication, or skip doses in order to prolong the life of their medication. This could lead to poorer health outcomes.
- It is difficult for patients to know what they pay for. Lack of transparency makes it harder for patients to take care of themselves, and make informed choices about their health.
- Access to generic drugs is limited: Although generics can be cheaper than name-brand drugs, some people are not able to purchase them. It could be because of patents which prevent generic versions to certain drugs from reaching the market.
- Copays and high deductibles are common. Even those with health insurance may have to pay copays or high deductibles, making medication expensive.
- Prices can rise rapidly and without warning. It can cause a sudden increase in the out-ofpocket costs for patients.
The cost of medication is one example. It will take a coordinated effort by policymakers and healthcare providers to address these issues. Possible solutions may include a greater access to generic drugs and improved transparency of drug prices, as well as policies that control drug costs.