If you have been watching the news, you’ve likely heard the current administration’s support for affordable healthcare, lower prescription drugs costs, and less red tape around the FDA’s drug approval process. These platform statements are powerful to a country where prescription drug costs are significant. In fact, according to an AARP report from 2015, the price of prescriptions per household amount to more than the average family’s income per year. To many eager constituents, these campaign promises create the illusion of a future of financial stability and an adequate, cost-effective healthcare system that treats people as patients instead of dollar signs. Before we pop the champagne, we need to look at both the current system we are proposing to fix and the actions that the government has already taken against these its original statements.
The Trump administration points the finger at the FDA’s current drug approval process as a major cause for high drug prices. Critics of the existing approval process believe it to be slow, full of unnecessary procedures, and a hindrance to the approval of potentially life-saving drugs. Notice, I said potentially. (more…)Tagged with: Bernie Sanders, Consumer Safety, Donald Trump, healthcare, Palladone