Posted by Michael Wonder on 25 Apr 2019
Is arbitration an answer for high drug prices?
24 April 2019 - Future prescription drug costs are projected to spike to unsustainable levels.
Biologic pharmaceuticals will make up the majority of new drugs, and unfortunately, they are commonly priced at over six figures for a course of treatment. These drugs promise new breakthroughs in treatments for patients with certain targeted conditions, but at prices few can afford.
Medicare in particular needs new tools to better balance the incentives for new drug development with our ability to afford them. Despite recent, negative news coverage many health-care professionals would argue that one of the best solutions is to adopt a tactic that is already in use in other sectors of the economy — binding arbitration.
