A recent study of drug coverage in other developed nations shows that America is not getting the value it needs from its Medicare Part D drug spending.
About The Podcast:
Millions of Americans feel confused and frustrated in their search for quality healthcare coverage.
Between out-of-control costs, countless inefficiencies, a lack of affordable universal access, and little focus on wellness and prevention, the system is clearly in dire need of change.
Hosted by healthcare policy and technology expert Marc S. Ryan, the Healthcare Labyrinth Podcast offers accessible, incisive deep dives on the most pressing issues and events in American healthcare.
Marc seeks to help Americans become wiser consumers and navigate the healthcare maze with more confidence and certainty through The Healthcare Labyrinth website and his book of the same name.
Marc is an unconventional Republican who believes that affordable universal access is a wise and prudent investment. He recommends common-sense solutions to reform American healthcare.
Tune in every week as Marc examines the latest developments in the space, offering analysis, insights, and predictions on the changing state of healthcare in America.
About The Episode:
On this episode, Marc discusses a recent study of drug coverage in other developed nations that proves America is not getting the value it needs from its Medicare Part D drug spending. We need to consider comparative effectiveness and cost-effectiveness of drugs.
Key Takeaways:
America is not getting the value it needs from its Medicare Part D drug spending.
Other developed nations look at drugs for comparative effectiveness and cost-effectiveness.
In America, our policy is to allow the proliferation of expensive brand drugs without regard to the clinical advancement or cost.
A study concluded that more than half of the top 50 Part D drugs would have not received a moderate or high benefit rating from other developed countries.
These drugs accounted for $19.3 billion in net spending — 11% of Medicare net Part D costs in 2020.
The Medicare Part D drug negotiation law dictates that CMS now consider comparative effectiveness and cost-effectiveness when setting drug prices.
This is a very good thing, but we need to ensure such standards apply throughout the healthcare system.
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Resources
The Healthcare Labyrinth: A Guide to Navigating Health Plans and Fixing American Health Insurance
