2.50
Hdl Handle:
http://hdl.handle.net/10755/621878
Category:
Full-text
Format:
Text-based Document
Type:
Poster
Level of Evidence:
N/A
Research Approach:
N/A
Title:
Drug Costs vs. Charges: You Can. Should You?
Author(s):
Maher, Vincent F.; Priovolos, George V.; Cohen, Barbara M.; Maher, Elisabeth J.
Lead Author STTI Affiliation:
Eta Sigma
Author Details:
Vincent F. Maher, JD, MSN, RN, CRNA, Professional Experience: Professor of Management and Health Care Management for 30 years Visiting Professor of Nursing Visiting Professor of Management, University of Caen, France Clinical experience in shock/trauma, critical care and emergency nursing Author Summary: Dr Maher is a nurse, attorney, ethicist and management expert who has authored, taught, lectured and presented papers at US and international meetings and universities for 30 years in areas of health care management, ethics, and public policy. He has held permanent and visiting faculty posts in Management and in Nursing at US and international universities.
Abstract:

PurposePharmaceutical manufacturer Mylan increased the cost of Epi-Pens by 400 percent. The new list price for a two-pack of EpiPens is just above $600 which charge was just over $100 when Mylan acquired the product in 2007. The company’s CEO, Heather Bresch, whose salary was $2.4 million in 2007 also raised her salary to 18 million dollars per year. Her acts recapitulate those of former Turing Pharmaceuticals CEO Martin Shkreli who imposed drug charge increases from $13.50 to $750 a pill for the price of Daraprim, a medication used by HIV patients, and also of his recommended increases in executive compensation by Turing following his departure. Mental health outpatient drug costs have risen roughly 20% a year in each of the past 5 years for which national data are available (1996-2001). Antipsychotic drugs billed to Medicare have risen 71% in recent years.

MethodsAnalysis is based on media and pharmaceutical industry sources and social media response to these actions.

Results:  There seems to be a default setting in most people’s psyches that cost and charge are supposed to resemble some unspoken reasonable relationship to one another and are not to enter the realm of beyond the pale or even of obscenity. Most would agree that the one producing a product is entitled to a profit. How much profit and its reasonableness are two entirely different issues and not infrequently evade norms on many number of levels. Choice differentials are utilized by consumers pertaining to transportation, housing, education medication and recreation: first class and economy seats will get you to the same place as will a Rolls Royce or a Vespa. Generic versus brand name ibuprofen will provide analgesia. Consumers make a choice. The process of research, price setting and charges practices are typical in the pharmaceutical industry. When speaking of life saving medications however, such differentials are rendered moot and necessarily, many would argue, become the object of public policy scrutiny. Specifically, one needs a particular medication when one needs it or one dies. There isn’t an alternative for those who need products like Epi-Pens, Daraprim or Naloxone.

ConclusionThis paper will examine contemporary cost versus charge as applied to commonly used medications and to those that are life-saving and with limited markets, the funding of pharmaceutical research, the impact of direct to consumer advertising, the issue of executive compensation, the realities that legislators around the world have engaged in to remove the immediate charges of emergency medications from the individual to the public realm and product branding issues faced by the manufacturer. The authors will propose recommendations for Nursing and public health advocacy in this regard and will invite discussion by participants.

Keywords:
costs; ethics; policy
Repository Posting Date:
17-Jul-2017
Date of Publication:
17-Jul-2017
Other Identifiers:
INRC17PST638
Conference Date:
2017
Conference Name:
28th International Nursing Research Congress
Conference Host:
Sigma Theta Tau International
Conference Location:
Dublin, Ireland
Description:
Event Theme: Influencing Global Health Through the Advancement of Nursing Scholarship
Note:
Item was accepted for presentation at the 2017 International Nursing Research Congress, but was not presented at the event.

Full metadata record

DC FieldValue Language
dc.language.isoen_USen
dc.type.categoryFull-texten
dc.formatText-based Documenten
dc.typePosteren
dc.evidence.levelN/Aen
dc.research.approachN/Aen
dc.titleDrug Costs vs. Charges: You Can. Should You?en_US
dc.contributor.authorMaher, Vincent F.en
dc.contributor.authorPriovolos, George V.en
dc.contributor.authorCohen, Barbara M.en
dc.contributor.authorMaher, Elisabeth J.en
dc.contributor.departmentEta Sigmaen
dc.author.detailsVincent F. Maher, JD, MSN, RN, CRNA, Professional Experience: Professor of Management and Health Care Management for 30 years Visiting Professor of Nursing Visiting Professor of Management, University of Caen, France Clinical experience in shock/trauma, critical care and emergency nursing Author Summary: Dr Maher is a nurse, attorney, ethicist and management expert who has authored, taught, lectured and presented papers at US and international meetings and universities for 30 years in areas of health care management, ethics, and public policy. He has held permanent and visiting faculty posts in Management and in Nursing at US and international universities.en
dc.identifier.urihttp://hdl.handle.net/10755/621878-
dc.description.abstract<p><strong>Purpose</strong><strong>: </strong>Pharmaceutical manufacturer Mylan increased the cost of Epi-Pens by 400 percent. The new list price for a two-pack of EpiPens is just above $600 which charge was just over $100 when Mylan acquired the product in 2007. The company’s CEO, Heather Bresch, whose salary was $2.4 million in 2007 also raised her salary to 18 million dollars per year. Her acts recapitulate those of former Turing Pharmaceuticals CEO Martin Shkreli who imposed drug charge increases from $13.50 to $750 a pill for the price of Daraprim, a medication used by HIV patients, and also of his recommended increases in executive compensation by Turing following his departure. Mental health outpatient drug costs have risen roughly 20% a year in each of the past 5 years for which national data are available (1996-2001). Antipsychotic drugs billed to Medicare have risen 71% in recent years.</p> <p><strong>Methods</strong><strong>: </strong>Analysis is based on media and pharmaceutical industry sources and social media response to these actions.</p> <p><strong>Results: </strong> There seems to be a default setting in most people’s psyches that cost and charge are supposed to resemble some unspoken reasonable relationship to one another and are not to enter the realm of beyond the pale or even of obscenity. Most would agree that the one producing a product is entitled to a profit. How much profit and its reasonableness are two entirely different issues and not infrequently evade norms on many number of levels. Choice differentials are utilized by consumers pertaining to transportation, housing, education medication and recreation: first class and economy seats will get you to the same place as will a Rolls Royce or a Vespa. Generic versus brand name ibuprofen will provide analgesia. Consumers make a choice. The process of research, price setting and charges practices are typical in the pharmaceutical industry. When speaking of life saving medications however, such differentials are rendered moot and necessarily, many would argue, become the object of public policy scrutiny. Specifically, one needs a particular medication when one needs it or one dies. There isn’t an alternative for those who need products like Epi-Pens, Daraprim or Naloxone.</p> <p><strong>Conclusion</strong><strong>: </strong>This paper will examine contemporary cost versus charge as applied to commonly used medications and to those that are life-saving and with limited markets, the funding of pharmaceutical research, the impact of direct to consumer advertising, the issue of executive compensation, the realities that legislators around the world have engaged in to remove the immediate charges of emergency medications from the individual to the public realm and product branding issues faced by the manufacturer. The authors will propose recommendations for Nursing and public health advocacy in this regard and will invite discussion by participants.</p>en
dc.subjectcostsen
dc.subjectethicsen
dc.subjectpolicyen
dc.date.available2017-07-17T17:46:26Z-
dc.date.issued2017-07-17-
dc.date.accessioned2017-07-17T17:46:26Z-
dc.conference.date2017en
dc.conference.name28th International Nursing Research Congressen
dc.conference.hostSigma Theta Tau Internationalen
dc.conference.locationDublin, Irelanden
dc.descriptionEvent Theme: Influencing Global Health Through the Advancement of Nursing Scholarshipen
dc.description.noteItem was accepted for presentation at the 2017 International Nursing Research Congress, but was not presented at the event.-
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