Americans Have a Cure for High Drug Prices: Transparency
According to a Kaiser Family Foundation survey both Democrats and Republicans agree the US government should force the pharmaceutical industry to lower drug prices.
Seventy-seven percent of Americans polled said “prescription drug costs are unreasonable” and there is a strong desire to have the US government implement “a variety of actions in order to keep costs down” such as:
- Requiring drug companies to release information to the public on how they set their drug prices
- Allowing the federal government to negotiate with drug companies to get a lower price on medications for people on Medicare
- Limiting the amount drug companies can charge for high-cost drugs
- Allowing Americans to buy prescription drugs imported from Canada
- Creating an independent group that oversees the pricing of prescription drugs
When it comes to paying for prescription drugs, the survey found only 14% said “it is difficult to pay for their drugs” which might explain why 26% fewer patients are taking their prescription medications.
With two-thirds of Americans agreeing that there needs to be an independent group overseeing drug prices, one solution could be importing medicines from Canada. Seventy-one percent of those polled are in support of such a solution.
Another solution could be making the process by which medication prices are set transparent. This would extend to generic drugs and older medications; both of which are priced to exploit lucrative profits for pharmaceutical companies.
This coincides with a bipartisan proposal introduced on Capitol Hill that would ensure industry costs are disclosed and price hikes could be assessed for justification.
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