In order to lower the drug prices, a draft regulation is being considered by the administration of Trump. The proposal by the administration would be imposing price controls in Medicare. The patients, rather than being helped in saving money, would be impacted badly by the price controls. This drastic step would smother the access to the latest drugs for people across the country, inclusive of many in the North Caroline.
Now the lawmakers in Congress, particularly the advocates who are dedicated to patients like Senator Richar Blur, have to take a step for defeating this misguided reform.
The part B of Medicare will be impacted by the proposal which covers the intricate medicines administered by medics. At present, Part B has to pay more for these drugs than the government insurance programs in any other developed country, such as France, Canada, and the United Kingdom, Canada.
This is because the governments in those countries have strict control over the drug prices. For instance, the Patented Medicine Prices Review Board of Canada has more power, and it determines the price of every new medicine which is released. If any drug firm refuses to accept the price dictated by the government-dictated, these countries simply decline the covering up of medicine in question.
Certainly, this is not fair that the foreign countries pay less for the same latest drugs, many of them are even manufacturer in the US.
Drug firms are very interested to launch their product in countries such as the US which pay the market prices for medicines. This the reason why 95% of the drugs released for a cancer cure are made available in the market of America immediately. On the other hand, patients in France have access to only 65 percent of them, and in Canada even less i.e. 58 percent.