In the United States prescription drug prices are high since the government sort of gives researchers and manufacturers monopoly rights. Most of these firms have been in existence for quite some time, so it has been a profit-making industry for them at the expense of the citizens. In this article, there are more answers as to why the drug rise in the United States might be an issue people will have to deal with for more years.
The country has a system that allows manufacturers to be the sole producers of drugs as a way of increasing innovation and growth in the country. There are no control of the prices of medication by the government since the manufacturers have been given the rights to set their prices thuds taking advantage of the consumers. When there is competition, the prices keep on fluctuating since a firm knows that clients will go for the one whose prices are cheaper and affordable.
Before a new medication is brought to the market, it has to go through the necessary check to ensure it will be effective and all that requires a lot of money so when the medication is released to the market, the prices are higher. If the market is small the firms try to make money by shooting the prices since these medications are not purchased on an occasional basis. When a firm gets a patent right of twenty years, that is a long time as compared to the way things work in other countries, and it is enough time for them to exploit the consumers.
When a drug maker markets their products directly to a client, there are charges incurred, and those are recovered by raising the prices of these drugs. Insurance companies are also unable to negotiate for the prices since they will not come across the same drug from a different country leaving them at crossroads. Both the manufacturers and the insurance companies want to make the drugs affordable but it also depends on the agreement between them.
Negotiations can work in some pharmacies and if one gets lucky enough the company will accept to give them at a lower price. An insurance company is a long-term goal therefore take your time before picking a company but make sure it covers the drugs you need to avoid any issues later since it is the best option to cater for your medication. There is always an alternative and if one finds their drugs are expensive, ask the pharmacist if there are other drugs they can recommend you use provided they will not have negative impacts on you.