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re: Cost Of Life-Saving EpiPen Injectors Soars To $700 A Set
Posted on 8/22/16 at 12:22 pm to ThatMakesSense
Posted on 8/22/16 at 12:22 pm to ThatMakesSense
quote:
Really? So how many pens would someone with known issues need to carry on their person?
Sorry, not the severity of the reaction. The weight. You have an Epipen Jr. for a certain amount of pounds and under. I think it falls around 60-70 lbs. Then the regular Epipen and up. I was thinking about the old twin injectors they had. Given the varying weight of kids from elementary to middle, that could be an issue.
Typically the kids we work with have at minimum two, one to keep on their person and/or one to keep in the school office.
This post was edited on 8/22/16 at 12:25 pm
0
Posted on 8/22/16 at 12:25 pm to Darth_Vader
Knowing that the same company sells the same product in other countries for much less, the President should issue an executive order capping the price here at $50. Then, of course, the company would throw a hissy fit and create a "fake shortage," but if they do, then they should get sued when children die since there would be no true shortage - just the inability to gouge the less fortunate.
These companies are bullies who need to be put in their place.
These companies are bullies who need to be put in their place.
Posted on 8/22/16 at 12:28 pm to yoga girl
quote:
Really don't need a government regulatory oversight, just cap the price at $50.
Food is required for life, should the price of a tomato be capped as well?
Posted on 8/22/16 at 12:34 pm to EA6B
quote:
Food is required for life, should the price of a tomato be capped as well?
If there was tomato price gouging caused by a fake shortage, yes. If prices went up due to drought, no.
Posted on 8/22/16 at 12:37 pm to Darth_Vader
Wouldn't it be nice to hear a story where the folks don't get completed screwed by government or business.
Posted on 8/22/16 at 12:38 pm to Darth_Vader
I was curious so I looked up EpiPen on my health insurance website which my policy information is loaded when I log in.
An EpiPen two pack has a total drug cost of $609.81. Under my insurance program, my co-pay is $30, which makes it a Tier 2 drug (Tier 1/2/3/4 co-pays are $10/$30/$50/50%)
There is a generic available - Epinephrine - however it is not covered under Humana.
If the true cost of the medicine is $1 to produce it, and they can sell it for that much, then I believe the generic manufacturers would be moving heaven and earth to figure out the problems with the current generic and get it right, especially if the patent is expired (like some of you say).
Or, perhaps there is collusion in the market or protectionism from the FDA.
Everyone screams about capitalism but the fact is, we do not have a true capitalistic society. What we have is a system in which protectionism can be bought for the right amount of campaign contributions, as well as many industries having an economic oligarchy in certain industries.
An EpiPen two pack has a total drug cost of $609.81. Under my insurance program, my co-pay is $30, which makes it a Tier 2 drug (Tier 1/2/3/4 co-pays are $10/$30/$50/50%)
There is a generic available - Epinephrine - however it is not covered under Humana.
If the true cost of the medicine is $1 to produce it, and they can sell it for that much, then I believe the generic manufacturers would be moving heaven and earth to figure out the problems with the current generic and get it right, especially if the patent is expired (like some of you say).
Or, perhaps there is collusion in the market or protectionism from the FDA.
Everyone screams about capitalism but the fact is, we do not have a true capitalistic society. What we have is a system in which protectionism can be bought for the right amount of campaign contributions, as well as many industries having an economic oligarchy in certain industries.
Posted on 8/22/16 at 12:38 pm to Bmath
quote:
That's $700 after insurance.
Wah? No, no it is not. There is a ton of misinformation in the Forbes article. It actually sources material from an NBC article:
quote:
Tracy Bush, a 42-year-old mom and food allergy consultant, never goes anywhere without two EpiPens on her. Her son, age 14, carries another. She began doing so after he was diagnosed with severe allergies as a 2-year-old.
For the past 10 years, she has watched the price she paid for her refills rise higher and higher with no discernible improvement to the device or medicine.
In 2008, Bush said the price was $145.99. In 2010, it was $220.99, then jumped to $649.99. This year her pre-insurance costs were $1,118.08.
Despite the hikes, Bush was glad to have the device two years ago when her son had a bad reaction while eating some watermelon...
The company also offers coupons on its website that can reduce costs. This year, for the first time, Bush was able to use those coupons and her "good" insurance plan to bring down her out-of-pocket costs to zero. But not everyone can do the same.
So she paid nothing. Articles like this drive me nuts. The companies have some explaining to do, but when the truth is bad enough, I hate that "journalists" frame it in a misleading way that makes it easy to refute most of the claims.
Posted on 8/22/16 at 12:42 pm to slackster
quote:
I hate that "journalists" frame it in a misleading way that makes it easy to refute most of the claims.
Don't attack the messenger.
Posted on 8/22/16 at 12:43 pm to slackster
It's a shell game, though. Sure, with her insurance costs and the coupon, HER costs are zero when she walks out of CVS.
However, the insurance company is paying almost all of that $1100. You don't think that will eventually work it's way into higher premiums for all of us?
The coupon is saving her the co-pay which is probably $50 bucks or something. How nice of the company to do that. They forego $50 of pure profit in order to ensure they get $1068 of almost-pure profit from the insurance company, and then the insurance company will just turn around and raise premiums.
However, the insurance company is paying almost all of that $1100. You don't think that will eventually work it's way into higher premiums for all of us?
The coupon is saving her the co-pay which is probably $50 bucks or something. How nice of the company to do that. They forego $50 of pure profit in order to ensure they get $1068 of almost-pure profit from the insurance company, and then the insurance company will just turn around and raise premiums.
Posted on 8/22/16 at 12:44 pm to LSUFanHouston
quote:
However, the insurance company is paying almost all of that $1100. You don't think that will eventually work it's way into higher premiums for all of us?
The coupon is saving her the co-pay which is probably $50 bucks or something. How nice of the company to do that. They forego $50 of pure profit in order to ensure they get $1068 of almost-pure profit from the insurance company, and then the insurance company will just turn around and raise premiums.
Exactly. And this could (and should) be cured with one swipe of the President's pen.
Posted on 8/22/16 at 12:44 pm to yoga girl
quote:
I'm all for the free market,
This isn't the free market. In a free market there would be competition and the Epipen would cost around $85 or less.
Government protectionism and barriers to entering the market are the causes for the price increases. Mylan is based in Amsterdam and sells 85% of comparable products. Outside the USA, the price is much cheaper.
Adrenaclick is a comparable item sold in the USA which you can get for less than $150 with a coupon.
Posted on 8/22/16 at 12:45 pm to colorchangintiger
quote:
ideally some one would come in to compete against this price gouging.
i think in this instance the competitors have all bowed out b/c they couldn't compete and make a profit
Posted on 8/22/16 at 12:46 pm to LSUFanHouston
quote:
I was curious so I looked up EpiPen on my health insurance website which my policy information is loaded when I log in.
I just did the same. $50 co-pay for mail-order or $130 at my local pharmacy. Based on the information in the NBC article I could actually get up to $100 off of my co-pay, so I can get it for 0$ with mail-order or $30 at my local pharmacy.
Posted on 8/22/16 at 12:46 pm to yoga girl
quote:
Exactly. And this could (and should) be cured with one swipe of the President's pen.
Absolutely, by stopping the overregulation that leads to a lack of competition.
Posted on 8/22/16 at 12:46 pm to yoga girl
quote:
Kind of kills the argument that capitalistic businesses don't need strict government regulation.
stick to yoga
Posted on 8/22/16 at 12:48 pm to Darth_Vader
quote:
I'm a firm believer in the capitalist system but this is just straight up robbery.
That's not capitalism.
Sounds like it's time for a different company to come in and sell the epipen at a more reasonable price. That would be capitalism working.
Posted on 8/22/16 at 12:49 pm to uway
quote:
Possible solutions to the problem of prohibitive cost for life-saving medicine:
1. Government control of price = reduced incentive to spend the money on R&D = fewer breakthrough medicines
I'm pretty much at the point where I'm willing to call their bluff.
These are for-profit large corporations. With medicine patents what they are, they HAVE to invest huge sums in R&D. This is regardless of who pays for it. If they do not, then they will soon go out of business. I doubt these companies want to go out of business, so they will continue to find ways to maximize profit.
As an aside, I'm sick of the US subsidizing the rest of the world. Make everyone else pay a little more.
Posted on 8/22/16 at 12:50 pm to RogerTheShrubber
Price controls are not "over regulation."
One rule "Can't sell for more than $x."
And only do it in cases of price gouging.
One rule "Can't sell for more than $x."
And only do it in cases of price gouging.
Posted on 8/22/16 at 12:50 pm to LSUFanHouston
quote:
However, the insurance company is paying almost all of that $1100. You don't think that will eventually work it's way into higher premiums for all of us?
Oh I know it will, but I'd imagine the EpiPen is a drop in the bucket compared to other cost drivers.
Posted on 8/22/16 at 12:50 pm to yoga girl
quote:Price gouging exists in regulated markets as well. Look into sugar pricing sometime.
Clearly, price gouging exists in a free market.
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