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SOURCE National Center for Policy Analysis
Patients Benefit from Competitive Rx Drug Marketplace
DALLAS, March 7, 2013 /PRNewswire-USNewswire/ -- As drug coverage increases as a result of expanded health insurance and Medicaid coverage under the Affordable Care Act, unnecessary regulations will increase prescription drug costs, according to a new study from the National Center for Policy Analysis (NCPA).
"Sixty percent of all Americans take a prescription drug in any given year, and nearly all seniors do," said NCPA Senior Fellow Devon Herrick. "Drug coverage is expanding rapidly and heightened regulatory scrutiny will prevent drug plans managers from holding down costs for consumers with programs such as creating exclusive networks and encouraging mail-order prescriptions."
Herrick said there are many barriers, regulations and practices that restrict competitive bidding among drug plan stakeholders.
Americans filled an estimated 3.8 billion retail prescriptions in 2011 and Herrick notes that, "Even though prescriptions can still be extremely expensive, drug therapy is arguably the most efficient method to treat many illnesses and often can prevent the need for more expensive surgeries and hospital stays."
"Prices, profitability and services will continue to suffer unless open competition removes many of these barriers that will continue raising prescription costs," said Herrick.
The National Center for Policy Analysis (NCPA) is a nonprofit, nonpartisan public policy research organization, established in 1983. We bring together the best and brightest minds to tackle the country's most difficult public policy problems - in health care, taxes, retirement, small business, and the environment. Visit our website today for more information.
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