New medical discoveries are pushing the cost/patient envelope as more low-end subsidized drugs are taken off the Pharmaceutical Benefits Scheme and new $1,000 plus a week treatments are being added at the top end. Rationally, it is obvious that this will result in fewer patients benefiting.
Recently, I went to the pharmacy with a script for a medication that I assumed was still subsidized. The chemist arrogantly said drug companies are not making profit any more: you should pay the $60.00. I responded saying, how do you know anything about my finances and if you believe pharmaceutical firms need sympathy you are absolutely stupid and unfit to be in the profession.
Upon leaving the shop I thought I shouldn't have said that. However, on consideration I believe that I was right. It needed to be said. Pharmacists are a protected breed. They make millions when the government pays them full-recommended list price which it is set artificially high by drug companies. New Zealand showed that when offered an ultimatum of what a government can afford to pay the companies will buckle and sell needed medications are a lower price. Australia should also give an ultimatum so that consumers can pay a fair price.
Patent law gives drug firms a monopoly to set the market price as they see fit, whether patients can afford it or not. Economic teaching shows that a manufacturer can make more profit by holding the price high so only the wealthy can pay. Of course, if you have a prime minister who blindly believes in the market, a market that is deemed to be free and open which it isn't, this is what you get. Bend over and the PM will k... your ass!
◆ Health by Ty Buchanan ◆