Millions of people take prescription medications and a survey shows about 25% saw a big jump in price in the past year. Now the question is why. Dr. Don Klepser is the Vice Chair of Pharmacy Practice at the University of Nebraska Medical Center College of Pharmacy and says big pharmaceutical companies cam basically make their own rules.
Dr. Klepser says, “The simple answer- because the companies can. The companies have patent protection. They have price-in control. For most of us we have insurance where we are a little insulated from those pricing increases.”
Dr. Klepser says some of the money that patients pay for prescriptions goes to research which is very expensive. He says approximately one in 1,000 new compounds become drugs on the market. These are expensive products and there is a lot of regulation. He says the good news about medications is they work. The drugs keep people out of the hospital so they can continue work so there is value to the product.
Dr. Klepser says it is also important review what medications you take with your physician on a regular basis. He says they can counter-act one another and a patient may be given more medication to prevent that from happening. These reviews are important for your health and for your pocketbook.