The FDA is responsible for the approval of medications in the U.S. Many similar agencies are doing the same work in other countries. But unlike the U.S. – where cost is not a consideration – several countries including the UK, Canada, and Australia, apply a Health Technology Assessment to consider a new medication’s clinical and economic cost and benefits. A recent study shows they disagree with the FDA’s decision about 20% of the time.
Cost of Medications
Medicare Part D provides coverage for the cost of drugs. It is a complex system with varying out-of-pocket costs. The stakeholders, beneficiaries, insurance companies, manufacturers and the feds are all trying to shift costs to someone else. Two graphs will show the value of Part D to patients and what all the fighting is about.