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Pharmaceuticals in Medicare reform

P L McKercher1

  • 1Center on Drugs and Public Policy, School of Pharmacy, University of Maryland, Baltimore, USA.

Clinical Therapeutics
|January 28, 1998
PubMed
Summary
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Reforming Medicare requires balancing prescription drug coverage for seniors against rising costs. A thorough cost-benefit analysis must consider factors beyond just drug prices for effective policy decisions.

Area of Science:

  • Health Policy
  • Gerontology
  • Pharmaceutical Economics

Background:

  • Medicare system reforms are under consideration by policymakers.
  • Prescription drug coverage for elderly beneficiaries is a key issue.
  • Balancing benefit attractiveness with expenditure concerns is crucial.

Purpose of the Study:

  • To analyze the costs and benefits of including prescription drug coverage in Medicare.
  • To inform policy decisions regarding pharmaceutical benefits for seniors.
  • To advocate for a comprehensive cost-benefit examination.

Main Methods:

  • Policy analysis of Medicare reform proposals.
  • Economic evaluation of prescription drug benefits.
  • Review of expenditure data and cost-benefit frameworks.

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Main Results:

  • Including prescription drug coverage presents both opportunities and challenges.
  • Expenditure increases are a significant concern.
  • A narrow focus on drug product costs is insufficient for evaluation.

Conclusions:

  • Prudent examination of prescription drug coverage requires a broad perspective.
  • Policy decisions should integrate a comprehensive understanding of costs and benefits.
  • Moving beyond pharmaceutical product costs is essential for Medicare reform.