Results 1 to 3 of 3

Thread: Insulin in U.S. Costs Up to 10 Times More Than in Other Wealthy Countries

  1. #1
    Veteran Member Mr. Wizard's Avatar
    Join Date
    25th October 2011
    Location
    East coast, USA
    Posts
    3,286

    Default Insulin in U.S. Costs Up to 10 Times More Than in Other Wealthy Countries

    Maia Anderson
    October 6, 2020

    Insulin prices in the U.S. were up to 10 times higher in 2018 than other countries in an intergovernmental group created to stimulate economic progress globally, according to a report cited by STAT.
    In 2018, the average price per standard unit of insulin in the U.S. was $98.70 for all types of insulin, compared to $6.94 in Australia; $12 in Canada; $7.52 in the U.K.; and $8.81 in all the other wealthy countries combined, according to the report from Rand Corp., an American nonprofit global policy think tank. The analysis was conducted on behalf of HHS.


    Keep Reading: https://www.beckershospitalreview.co...tudy-says.html





  2. #2
    Administrator Islander's Avatar
    Join Date
    16th September 2007
    Location
    Maine, USA. The way life should be.
    Posts
    19,325

    Default Re: Insulin in U.S. Costs Up to 10 Times More Than in Other Wealthy Countries

    I don't understand why I keep seeing these statistics, when insulin can be bought anywhere in the US for $30-$35. I made a point of verifying this with a commercial pharmacy (Walgreen's, Rite Aid) as well as with the pharmacist at our local Walmart. So what are people missing here?
    ➤ Happiness is the frosting on the cake of contentment.

  3. #3
    Veteran Member Mr. Wizard's Avatar
    Join Date
    25th October 2011
    Location
    East coast, USA
    Posts
    3,286

    Default Re: Insulin in U.S. Costs Up to 10 Times More Than in Other Wealthy Countries

    I think the discrepancy is caused by whether one uses the "list" price of insulin vs. the "net" price. Most studies, like the one above, compare the U.S. "list" prices of insulin to the list prices in other wealthy countries. In actuality, many companies and pharmacies, like the ones you mentioned, offer discounts via incentives from insurances and/or pharma companies. So, almost everyone ends up paying the discounted or "net" price. Since "net" prices vary from pharmacy to pharmacy, state to state, country to country, most studies comparing insulin costs are forced to rely on "list" prices due to the huge variations in "net" prices.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 2
    Last Post: 10-12-17, 09:14 AM
  2. Replies: 1
    Last Post: 11-13-14, 07:08 PM
  3. Special Report: Why a Hospital Bill Costs What It Costs
    By Katee in forum Other Health Concerns
    Replies: 8
    Last Post: 08-28-12, 01:45 PM
  4. Pop culture, wealthy Chinese spur medical tourism in Asia
    By Islander in forum General Discussion
    Replies: 0
    Last Post: 10-05-11, 01:25 PM
  5. If you use insulin PLEASE READ!!!
    By mellowsong in forum Diabetes
    Replies: 1
    Last Post: 11-07-08, 03:24 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
<<<<<<<< Your Customized Value <<<<<<<<