Chapter 4- Case Study New Protocol:
The United States is currently faced with the dilemma of affordable healthcare. Individuals who are not covered by an insurance company or Medicare struggle to afford necessary care. The case study “New Protocol” highlights an example of inflated drug costs. The profit margin of this drug is absorbed by Medicare, insurance companies, and individuals needing the drug.
The pharmaceutical industry plows money into Research and Development. In return, companies in this industry manufacture drugs which are greatly valuable to society. But, what should the price tag be on these drugs? The case study breaks down the cost makeup and profit analysis of the drug thalidomide. Should the U.S. regulate the price in which private companies sell drugs at?
Insurance premiums reflect the cost of purchasing drugs like thalidomide from companies such as Celgene. Should someone step in to create price ranges for pharmaceutical products? This idea does not align with the rest of the US marketplace. Why should companies such as Celgene have to cut profit margins to accommodate the health care crisis in the U.S.?
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