Is Pharma Profiting Too Much From Medicare Part D?
Byline: Saint Joseph’s University PHILADELPHIA, March 31 (AScribe Newswire) — People say the pharmaceutical industry is out to make money. And health care expert Edward Balotsky, Ph.D., agrees: “It’s true,” he said, “and particularly in response to Medicare Part D coverage, pharmaceutical companies are raising prices for drugs that are most often used by the elderly.” But in his research published by the Journal of Business Ethics, Balotsky concludes that this price maximization strategy yields a utilitarian effect: “The benefits of increased access and diffusion of drugs to the health care consumer counterbalance inequities in how the industry is financed by Medicare Part D,” he said. Soon after President Bush introduced Medicare Part D…
