American prescription drug prices are more expensive than in any other country in the world. 9 in 10 Americans believe that the cost of these drugs is much higher or somewhat higher than fair. The team at NY Requirements made a visual of this dilemma using information from the U.S. Department of Health and Human Services. On the infographic we can see that prices have risen in leaps and bounds. There are many reasons experts speculate might have caused the dramatic price increases. Some simply blame the fact that drug companies are profit-motivated. Others blame insurance companies for shifting cost-sharing onto the consumer with higher deductibles and copays. Still others point the finger at patents and legal protections that prevent competitors from releasing more affordable versions of prescription drugs, which have 20-year patents. We also can’t ignore the effect of advertising. Only the U.S. and New Zealand allow direct-to-consumer ads for prescription drugs.
Infographic by: nyrequirements
