Why does nobody question the unprecedented price rise in drugs? - ProProfs Discuss
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Why does nobody question the unprecedented price rise in drugs?

Why does nobody question the unprecedented price rise in drugs?

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Asked by G. Horace, Last updated: Apr 05, 2020

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Matz Lewis Clark

Traveler and writer by profession.

Matz Lewis Clark, College student, Graduation, Orlando

Answered Dec 13, 2018

The increased use of generic drugs has been one of the rare success stories in national efforts to curb the nation's 2.8 trillion medical bills since generics have been far cheaper than the name brand ones. Companies can leave the market, resulting in decreased supply and less competition.

A factory producing the drug in some cases, prices may rise because of questionable business practices or market manipulation. Prescription drug costs are skyrocketing here in the United States due in part to government regulations.

These regulations enable drug manufacturers to charge monopolistic prices that aren't opposed by competing for market forces. Insurance companies have started placing more high dollar drugs onto higher tires of their medication coverage, which requires larger co-pay for each prescription.

 

M. Klose

M. Klose, Content Writer, Oakland

Answered Jul 09, 2018

The new medications that are being sold in the market just cost too much. It is making people become pressured to make more money in order to afford the type of drugs that they need. The strain can be even harder for poor people because they do not know where they would get enough funds in order to pay for the medications they need or the medications that their family members need.

Take note that some drugs that have been around for a long time do not cost too much. It seems that people are not complaining too much about the medications because they believe that medications can help them get better. Medications can cause them to get cured. They are concerned about their health no matter what the cost.

 

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