Thursday, October 2, 2014

Why are health costs so high?

Because Medicare pays for drugs like Sipuleucel-T that extend life 4.1 months for patients with advanced cancer at a cost of $100,000

How many people would buy this drug if they had to pay for it themselves?


  1. Going along that same theme, even traditional chemotherapy drugs are some of the most expense therapies utilized as a mainstream treatment for conditions. There are many types of cancers for which the median survival of advanced disease is extended maybe a few months, and hundreds of thousands of dollars are spent for that effect. That does not even take into account the effects on QOL (quality of life) that can be measured during the same period.

    Healthcare providers ask the same questions all the time: an exorbitant amount of money is spent during the last few months of life - how do we know what that is "worth?"
    1)When you are the patient, sometimes it seems as though it may be worth any price (as long as QOL is acceptable to you).
    2)From a physician's standpoint, it is difficult to watch someone go through the dying process, and one wants to offer any solace or hope...without torturing someone for no real benefit.
    3)When you are on the outside looking in (not the patient but rather are the one depending on the pie of vanishing healthcare dollars), does the answer change?

    I think this is a question and dilemma that plagues any society that places worth on human life, instead of only counting currency involved to treat disease and assuage suffering. Having been on many sides of the question, not sure there is any easy answer...

  2. Wow I am actually utterly repulsed by this information. It is basically asking people to choose between themselves and their family they leave behind. If your desire to live a little longer is so great, you might just spend their inheritance on this drug. By why shouldn't you? Everyone has a driving force in them that causes them to fight to stay alive.
    I do not believe this to be moral hazard as much as sheer blackmail by the pharmaceutical companies and other responsible for this cost.
    Of course anyone would chose to live rather than die if they have no cost to them (have Medicare).
    That being said, it is a high price Medicare has to pay for this drug. They have a huge risk and huge cost in providing to pay for such a treatment.

  3. It’s because not many care about their health, so that’s what makes it so costly while I never worry about it. I do work like Forex trading, it is seriously good with top class broker like OctaFX, it is always helping me out in great way especially with their superb conditions which includes low spreads, high leverage up to 1.500 while there is also benefits like 50% bonus on deposit, so all that really works out nicely and helps me with trading better and easier.