Impact of pharmaceutical price controls on the cost of cardiovascular drugs: does essentiality matter?

2020 ◽  
Vol 13 (7) ◽  
pp. 797-806
Author(s):  
Simran Khanijo ◽  
Ashish Kumar Kakkar ◽  
Rohit Kumar ◽  
Amol Narayan Patil ◽  
Gomata Bhusal ◽  
...  
Keyword(s):  
Cardiovascular Drugs ◽  
Pharmaceutical Price ◽  
Price Controls ◽  
The Cost

HEALTH REFORM CAN'T CURE HIGH COSTS

PEDIATRICS ◽  
1994 ◽  
Vol 94 (3) ◽  
pp. A40-A40
Author(s):  
J. F. L.
Keyword(s):  
Health Care ◽  
Health Care System ◽  
Productivity Growth ◽  
Health Reform ◽  
Basic Assumption ◽  
Police Work ◽  
Price Controls ◽  
Technological Advances ◽  
Widespread Belief ◽  
The Cost

These facts prove that, contrary to widespread belief, no health care system offers a magic cure for rising costs. Something else is going on. The "something else" is that health care, like education and police work, is a "handicraft service." Characteristically, these activities can't be automated or sped up and made more productive. Doctors, for instance, simply cannot work much faster than they do without cutting into quality. True, technological advances can and do add some productivity to these fields, but not that much ... This important phenomenon is called "the cost disease of the handicraft services" and it undermines a basic assumption of some health reforms. If, by its craft nature, health care is condemned to low productivity growth and rapidly rising costs, then these inherent limits will simply not be correctable by price controls or other reforms of the system. In other words, cost increases are in the nature of the health care beast. Efforts to alter this nature will be fruitless or harmful.

scholarly journals Systematic Review on the Impacts of Strict Pharmaceutical Price Controls

2013 ◽  
Vol 16 (7) ◽  
pp. A486 ◽  
Author(s):  
J. Relakis ◽  
N. Maniadakis ◽  
G. Kourlaba ◽  
J. Shen ◽  
A.P. Holtorf
Keyword(s):  
Systematic Review ◽  
Pharmaceutical Price ◽  
Price Controls

scholarly journals Price Controls do not Reduce Inflation

1991 ◽  
Vol 30 (4II) ◽  
pp. 943-950
Author(s):  
J. S. Ryan
Keyword(s):  
Private Investment ◽  
Economic Policies ◽  
Political Debate ◽  
Tax Reforms ◽  
Pricing Policy ◽  
The Public ◽  
Price Controls ◽  
Widespread Belief ◽  
The Government ◽  
The Cost

The "What" of what I want to say today is already pretty clear from the title of my paper. However, I should explain to you the "Why" of the paper: why in the fIrst place I want to bring to your attention the fact that price controls do not reduce inflation. We probably all agree that Pakistan has more inflation than it needs and we share the popular desire to lower inflation or at least to keep it from rising. Unfortunately, fear of inflation seems to dominate Pakistan's discussion of many economic policies that have little to do with inflation or the cost of living. For example, both the public debate and the political debate over what prices the government should set for its agencies' sales of wheat and fuels is dominated by a widespread belief that raising these prices, or using a flexible market -determined pricing policy, would be inflationary. Tax reforms and export development are also constrained in Pakistan by the popular fear that they would be inflationary. In my view, none of these fears of inflation is justifIed. However, false fears of inflation exist, and the longer we let them distort policy, the more we delay many of the important steps Pakistan needs to take to increase both the national rate of private investment and the level of government spending on social programmes for the worst -off groups in the population. In this paper, I will very briefly explain why some of these widespread fears of inflation are unfounded. I will also suggest some non-technical arguments that economists can use, not in scholarly debate, but in the popular and political debate over economic policy to bring home some of these points.

Bio rages against pharmaceutical price controls

1993 ◽  
Vol 11 (11) ◽  
pp. 1212-1213
Author(s):  
Jeffrey L. Fox
Keyword(s):  
Pharmaceutical Price ◽  
Price Controls

scholarly journals The impact of cardiovascular drug innovation on the longevity of elderly residents of Switzerland, 2003-2012

2015 ◽  
Vol 5 (1) ◽  
pp. 23-44 ◽  
Author(s):  
Frank R Lichtenberg
Keyword(s):  
Circulatory System ◽  
Cost Effective ◽  
Cardiovascular Drugs ◽  
Cardiovascular Drug ◽  
Behavioral Risk ◽  
Cross Sectional ◽  
Statistical Life ◽  
Level Data ◽  
The Cost ◽  
The Impact

Previous investigators have argued that one of the two most important contributors to improved human survival is the treatment of cardiovascular disease. Among Swiss inhabitants age 65 and over, 90% of the 1994-2010 decline in the overall death rate was due to the decline in the rate of deaths from diseases of the circulatory system. Little if any of the decline in cardiovascular mortality is likely to have been due to changes in behavioral risk factors, especially tobacco use and obesity. This study examines the impact of cardiovascular drug innovation on the longevity of elderly residents of Switzerland using cross-sectional patient-level data on about 22 thousand patients insured by a major health insurer (CSS) during the period 2003-2011. We investigate the effect of the vintage (world launch year) of the cardiovascular drugs used by an individual in 2003 on his or her longevity (time till death), controlling for several demographic characteristics and indicators of health status. We are able to track a patient’s vital status until 12/31/2011: 8 years after the end of the period in which cardiovascular drug use (and other variables) are measured. Our estimates indicate that people who used newer cardiovascular drugs in 2003 had longer time till death than people who used older cardiovascular drugs, controlling for the number of 2003 prescriptions and their distribution by main anatomical group, the number of 2003 doctor visits and their distribution by specialty, whether the person was hospitalized in 2003, sex, and age. Our most conservative estimates imply that cardiovascular drug innovation accounted for almost a quarter of the increase in longevity among elderly residents of Switzerland during 2003-2012, and that it increased their longevity by almost 3 months. Other estimates are about twice as large. All of the estimates are consistent with the hypothesis that newer classes of drugs tend to be therapeutically superior to older classes of drugs, and that newer drugs tend to be superior to older drugs within the same class.Even our more conservative estimates indicate that the use of new cardiovascular drugs by elderly residents of Switzerland has been highly cost effective. Our conservative estimate of the cost per life-year gained from cardiovascular drug innovation is below $10,000, and some economists have argued that the value of a statistical life-year is as high as $300,000. 

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