‘Most favored nation’ pricing may solve drug-cost issue
Regarding Modern Healthcare’s Year in Review coverage (“High drug prices emerge as 2015’s top issue,” p. 17), rapidly rising drug prices is one of the most pressing issues facing consumers, physicians and hospitals. Many are calling on government to negotiate pricing for drugs. Drug companies argue that they need to recover the cost of research, etc., which is reasonable. What is not reasonable is for that burden to fall only on consumers in the U.S.
I suggest that the government mandate that prices in the U.S. be given “most favored nation” status when compared with West Europe, Canada and Japan. In other words, we would pay no more than the lowest price among those countries. The developed countries should share in R&D. It would be far less complex than negotiating prices for individual drugs. The drug companies should have to verify this under penalty of law.
Weirton (W.Va.) Medical Center