Seeking to restrain drug prices, the American Medical Association passed a resolution that would require drug makers to disclose pricing in ads that are aimed at consumers.
The proposal, which was approved by AMA delegates at their annual meeting in Chicago, came in response to concerns over rising drug costs and an unsuccessful bid by the medical organization to convince Congress to ban so-called direct-to-consumer advertising altogether.
Would it be too much to ask to have companies present the justification for their pricing to an advisory board for the FDA. I think it would help just to get these discussions into the light of day and out of the board room. Pharma will not stop maximizing profits if we ask them nicely, they must be compelled to do so.
Useless grandstanding. What price? List price? Net price (after rebates)? Patient copay? GoodRx price?
Physician salaries in the US are 2-4X times what physician salaries in the EU are. Funny that the AMA never complains of an urgent need to solve the problem of excess compensation.
Thanks for the note. The resolution (link is in the post) says manufacturer’s suggested retail price. There’s no further detail or definition, unfortunately. I asked.
Hope this helps,
Physicians at AMA should read this article: There’s No Magical Savings in Showing Prices to Doctors (https://www.nytimes.com/2017/06/12/upshot/theres-no-magical-savings-in-showing-prices-to-doctors.html)
The retail price is often a poor measure of a drug’s true cost to the patient, the patient’s plan, and the healthcare system.
Well at least the AMA can feel smug while conveniently deflecting attention from the biggest sources of healthcare spending (doctors and hospitals)!
Odd position to take – “More important, he argued, the proposal may violate the First Amendment. ” since when is adding information a ban .. uh, restriction – and why are prices political speech? OK, well lately but not usually?
Ed, that will happen the same day that doctors are required to post their prices on their ads. Even the snake oil salesmen told you up front that a bottle of Dr Shadrack Bennington’s Beneficent Balm will cost a buck and will cure whatever ails you.
ed at pharmalot
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