Cancer has become so pervasive now that it affects almost every other family across the globe. One out of every five persons in this world is being diagnosed with some form of cancer. When they slowly recover from the anxiety and shock of the diagnosis, they are shaken by another major jolt – the high-priced cancer drugs.
The price of the cancer drugs have shot up dramatically over the past two decades and is now a primary concern to many oncologists. According to a recent study that was conducted at the University of Texas MD Anderson Cancer Center, the existing medication for various blood cancers is so high that they can never fall into the category of cost-effective treatments. The scenarios are similar when it comes to the astronomical nature of drugs for other types of cancers as well.
So, where should you begin the fight? According to a leading American oncologist, the pharmaceuticals manufacturing the cancer drugs are making their prices unsustainable and unreasonable. Even though there have been appreciable levels of improvements in the quality of life and survival rates after the treatment for cancers, the costs of the drugs have also increased in a notorious way.
What exactly are the reasons behind this skyrocketing nature of anti-cancerous drug medications? While drugs such as Avastin and Provenge are world-class treatments for cancers, their costs are extraordinarily disabling and deadly. The research time, the lack of facilities, and the pressure governments experience could be some of the triggers of this lethal pricing of cancer drugs.
What Can Be Done To Lower The Cost of Cancer Drugs?
This is a question that all the people must ponder over. Increasing the accessibility to these drugs is very important to ensure that people across the world are benefitted. But it should also be kept in mind that while providing increased affordability and accessibility, there should still be scope for persistent pharmaceutical innovations.
Here Are Some Steps That Could Be Adopted To Deal With High Pricing of Cancer Drugs!
1. Pricing And Reimbursement Based On The Values
The current model of payment that prevails in the U.S. works on just measurable metrics. However, it is not a sustainable one as medical care does not take into consideration the value-based effects. The metrics should also consider the value a particular medication brings to the health of the patient in such a way that it does not compromise the profit maximization mechanism of the pharmaceutical industries.
2. Streamline And Hasten The Process of Developing Drugs
In most of the cases, the risky, lengthy, and costly research and testing procedures involved trigger the high pricing strategy. The processes involved in submitting the research to the FDA and getting its approval is yet another tedious process, which also contributes to this lethal pricing nature. Care must be taken to accelerate the research processes as well as to streamline the testing and approval nature. When the costs overhead decrease, the pricing strategy will also become mankind-friendly.
3. Do Away With Drug Patents
Patented drugs such as Gleevec are among the high-priced cancer medications. Once these drugs lose the shield of patents, the pricing will automatically spiral down.
Meanwhile, it is also essential to fund adequately for new research. These are all, ideally, better choices to deal with the high pricing nature of cancer drugs that promoting its patenting process.
Patience is the key. Various reputed oncologists across the world are slowly raising their voices against the pricing policy of these valuable medications. Many people are shunning away from treatment citing the costs. Let us act judiciously and make this Earth a better place to live!