Episode summary introduction: In this episode we discuss Healthcare in America with a focus on Big Pharma. Our goal is always to inform, help and start conversation. Gaps in healthcare inequalities have always existed but are now being exposed, so is the world of Big Pharma? With the politics of health care, how does the US compare?
Topic 1: One of the most powerful industries in the world is expected to reach $610 billion. The Medicare Modernization Act was passed with the intent to help seniors pay their prescriptions at an affordable rate. The government was banned from negotiating between drug manufacturers, pharmacies and prescription plan sponsors keeping prescription drugs at an expensive rate.
Topic 2: With all the Scandals in Big Pharma, from the Opioid crisis that we, as a Nation, are still battling due to Pill Mills and marketing fraud. To the millions of dollars settled in lawsuits, Big Pharma has had its share of headline news.
Topic 3: The U.S. outperforms its peers in terms of preventive measures. With mortality rates for breast, colorectal, and cervical cancers in the U.S. are lower than in comparable countries.
The mortality rate for cancers has been falling in the U.S. and across comparable countries. The US has the most advanced healthcare.
Topic 4: Solutions to Big Pharma and the US inequalities in healthcare...Education about preventative medicine, more access to healthcare, healthcare reform, price transparency in hospitals and pharmaceuticals along with increasing the minimum wage of American workers.
Outro: Drug makers do a lot of good. They provide medications to treat illnesses, diseases, vaccines and fund research for cures. The issue is that while they are investing so much into making new, groundbreaking medications, it will never be in Big Pharma’s interest to invest that same amount of money in education about prevention as that would hurt their bottom line.
Additional Resources Mentioned:
“Health, Income, & Poverty: Where We Are & What Could Help, " Health Affairs Health Policy Brief, October 4, 2018.
Netflix: Saving Capitalism 2017