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Old 09-07-2018, 09:33 PM
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Voyager Voyager is offline
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Quote:
Originally Posted by senoy View Post
It's a simplification. What is going on in the US is that we pay healthcare providers more for their services than in other countries. Our physician and nurses salaries are the highest in the world. Physician salaries especially are incredibly high in comparison to their European counterparts (Why is always the question, but a lot of it has to do with the fact that the AMA acts like a cartel in the US and limits the number of practitioners via statute.) Due to the amount that we pay, we're also innovation centers that effectively subsidize research to the rest of the world. Pharmaceuticals is one of the easiest places to see this. Pharmaceutical companies basically run their development budgets off of the US market. Non-US countries move to generics much more quickly and so US consumers are footing the bill for research costs via higher drug costs. It's a situation where the rest of the world likes to shake their head at the US paying so much, but they really don't want to see the US stop paying so much either.
Look up where Big Pharma spends its money. You'll see it spends more on marketing than on R&D - marketing which is not allowed in much of Europe.
Next time you hear an ad warning us that toenail fungus will kill us all, you'll know why our drugs are so expensive.