The newest edition of Health Wonk Review is up on Managed Care Matters.
There, host Joe Paduda calls attention to an eye-opening post by The Health Business Group’s David E. Williams.
Williams reports on what oncologists say about cancer drugs in “The Price of Drugs for Chronic Myeloid Leukemia (CML); A Reflection of the Unsustainable Prices of Cancer Drug.” The article, which was published in the journal, blood, includes candid comments from more than 100 experts They tell us that:.
- Many costly treatments aren’t worth the money
- New treatments with tiny orno benefits often cost a multiple of existing therapies
- Despite their reputation for penny-pinching, health plans are often not aggressive in negotiating price
- Patients are already suffering mightily from high costs –and it impacts quality of life and survival as well as financial health
- Society as a whole cannot afford to pay the high prices charged for so many of the new therapies
(I’m reminded of “A Very Open Letter from an Oncologist published on HealthBeat in 2009.) It’s encouraging to see more oncologist stepping forward to telll the truth about cancer drugs..)
.As Williams observes these insights “come from people who know what they’re talking about and who have traditionally been sympathetic to drug makers and unperturbed about costs.”
But now, the companies that make these drugs have taken greed too far.
Paduda also highlights Health Affairs just-released research indicating that the decline in inflation could result in a reduction of $770 billion (yup, that’s “billion” with a B) in public program health care costs over ten years. “
But is the trend sustainable? John Holahan and Stacy McMorrow of the Urban Institute are “cautiously optimistic.” Paduda agrees: “there’s no question there are fundamental changes occurring that are affecting care delivery, pricing, and reimbursement.”