HA415_Unit2Assignment_Ballardw

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Whittley Ballard Unit 2 Assignment HA415– Health Care Policy and Economics Professor Ginnity 10/26/2023

TOPIC OVERVIEW I chose to read about prescription drug cost spending compared to other countries. The information is derived from a chart collection on HealthSystemTracker, which uses data from the Organization for Economic Cooperation and Development (OECD) to offer insights into prescription drug spending and use in the United States and similar large and rich countries. The study centers on a number of important factors, such as per capita spending, out-of-pocket costs, drug costs, the function of generics, and the population's prescription consumption habits ( How Do Prescription Drug Costs in the United States Compare to Other Countries? - Peterson-KFF Health System Tracker , 2022) . Recap of the most important figures Greater Prescription Drug Spending in the US: In 2019, the US spent $1,126 per person on prescription drugs, a substantial amount more than comparable nations' average of $552. This expenditure includes both out-of-pocket and insurer payments. Compared to other nations where costs are far lower, the United States has higher out-of-pocket spending on prescription medications, with per capita out-of- pocket expenses of $164 in 2019. Compared to Germany, the Netherlands, Switzerland, or the United Kingdom, brand-name prescription medications for illnesses including diabetes, cystic fibrosis, and cardiovascular disease are significantly more expensive in the United States. Humira, for example, costs 423% more in the United States than in the United Kingdom and 186% more in Germany. Only 19.8% of prescriptions written in the United States are for generic medications, although making up 90% of all prescriptions. Prices for generic drugs have generally dropped while those for name-brand drugs have increased. According to the survey usage data, more than half of Americans (58%) say they regularly or continuously take prescription drugs, a percentage that is equivalent to that in comparable countries

(51% on average) ( How Do Prescription Drug Costs in the United States Compare to Other Countries? - Peterson-KFF Health System Tracker , 2022). Use for Health policy Analysis This data can be used by a health policy analyst to evaluate and create prescription medication cost- related health policies in the US. The information makes clear a number of important factors that can guide policy choices such as finding cost difference, impact on out-of-pocket expenses, price regulations, promotion of generic drugs, and medication usage patterns. Policy interventions are necessary to regulate and reduce drug costs in the United States, as evidenced by the large differences in prescription drug spending between the U.S. and other nations. The United States' greater out-of-pocket expenses can guide policies aimed at easing patients' financial burdens, potentially through enhanced insurance coverage or cost-sharing arrangements. As demonstrated in other nations, the data on brand-name medication costs highlights the possible advantages of controlling or negotiating drug pricing. In order to lower overall healthcare spending and prescription drug prices for both patients and payers, policy initiatives can concentrate on encouraging the use of generic medications. The fact that a sizable section of the American people is dependent on prescription drugs highlights the need of making sure that necessary medications are accessible and affordable ( What Are the Recent and Forecasted Trends in Prescription Drug Spending? - Peterson-KFF Health System Tracker , 2023).

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References How do prescription drug costs in the United States compare to other countries? - Peterson- KFF Health System Tracker . (2022, February 10). Peterson-KFF Health System Tracker. https://www.healthsystemtracker.org/chart-collection/how-do-prescription-drug-costs-in- the-united-states-compare-to-other-countries/ What are the recent and forecasted trends in prescription drug spending? - Peterson-KFF Health System Tracker . (2023, September 20). Peterson-KFF Health System Tracker. https://www.healthsystemtracker.org/chart-collection/recent-forecasted-trends- prescription-drug-spending/#Percent%20who%20favor%20each%20of%20the %20following%20actions%20that%20would%20keep%20prescription%20drug%20costs %20down :

HA415_Unit2Assignment_Ballardw

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