Prices of Prescription Drugs in the U.S. Compared to Other Countries and How Does It Impacts Healthcare Essay (Article)

The given article is related to the chosen topic in a way that it shows the problem of prices on prescribed drugs in the U.S. and their impact on healthcare and provides other countries’ experiences dealing with this issue. The article is related to the advanced nursing practice in a way that it demonstrates that not all the people can afford to buy highly expensive drugs. In the article, the authors analyze the problems of the increase of money spending per capita on prescription drugs in several countries including the U.S. In this regard, the U.S. spends more money per capita on the prescribed drugs than any other country-member of the Organization for Economic Cooperation and Development (OECD). According to the authors, the main reason for this is that the U.S. faster than other countries began using these new more expensive drugs without evaluating their cost. They also show the methods that the U.S. can implement based on the experience of other countries in order to improve the situation with the prices of prescription drugs. Thus, people responsible for health care policies in the U.S. should conduct health technology assessments using clinical cost-effectiveness, make limitations on patients’ eligibility, and assess the value of new treatments. They should also determine which therapies are highly expensive and have only small benefits. The authors also state that when the budget is limited, it is necessary to make agreements on volume and price. Combining these agreements with the modulation of price will help meet all the goals, namely, reducing money expenditures, and using innovative products. Thus, the discounts for older products can be bigger than those for newer ones. This stimulates the manufacturers to focus more on innovative products (Kanavos, Ferrario, Vandoros, & Anderson, 2013).

Reference

Kanavos, P., Ferrario, A., Vandoros, S., & Anderson, G. F. (2013). Higher US branded drug prices and spending compared to other countries may stem partly from quick uptake of new drugs. Health Affairs, 32(4), 753-761. Web.