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Prescribing Solutions for the High Cost of Cancer Medications
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One of the reasons cancer drugs cost so much in the United States is because there's a virtual monopoly held by some drug manufacturers. That's according to a commentary by two Mayo Clinic physicians in the journal Mayo Clinic Proceedings. Mayo Clinic hematologist, Vincent Rajkumar, M.D., says, “Cancer care is not representative of a free-market system, and the traditional checks and balances that make the free-market system work so efficiently in all other areas are absent when it comes to most cancer treatment.” Dr. Rajkumar makes several solution recommendations:
- Value-based pricing and a Food and Drug Administration mandate requiring drug companies submit a value dossier when seeking drug approval.
- Centers for Medicare and Medicaid Services powers to negotiate cancer drug payments.
Read entire news release: High Cost of Cancer Drugs
Sound bites with Dr. Rajkumar are available in the downloads above.
Expert title for broadcast cg: Dr. Vincent Rajkumar, Mayo Clinic Hematologist
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