We Need To Tame The Price Of New Cancer Drugs
Last week Dr. Peter Bach, a physician and cancer drug pricing theorist, gave a plenary lecture at the San Antonio Breast Cancer Symposium. Until recently, it was unusual for oncologists to hear lectures about the costs of medicines and care. Bach works at Memorial Sloan Kettering Cancer Center in New York City, where he directs the Center for Health Policy and Outcomes.
Bach delivered a quick overview on rising cancer drug prices, ways of addressing the issue, and how his work on the DrugAbacus fits with other approaches to the problem. First off, he explained why sky-high medication costs matter (in case it’s not obvious). “It’s about access,” he said. Because in a constrained system, the more insurers pay out for medications, the less is available for other kinds of treatments and services.
Bach delivered a quick overview on rising cancer drug prices, ways of addressing the issue, and how his work on the DrugAbacus fits with other approaches to the problem. First off, he explained why sky-high medication costs matter (in case it’s not obvious). “It’s about access,” he said. Because in a constrained system, the more insurers pay out for medications, the less is available for other kinds of treatments and services.