Is U.S. Food and Drug Administration (FDA) approval the gold standard for whether a drug truly does what it’s supposed to? Not according to a recent analysis. A review by Harvard and Yale researchers found that one-in-ten drugs approved by the FDA between 2018-2021 failed one or more of the stated endpoints.
Category: Consumer-Driven Health Care
Thursday Links
- CBO: the US is on track to add $19 Trillion in new debt over the next ten years.
- The US produces only 14% of the active pharmaceutical ingredients needed for generic drugs. India, China, and Italy are the top producers
- Site neutral payments could save Medicare $150 billion over ten years. (And stop encouraging hospitals to buy up doctor practices.)
- Are physician-owned hospitals the answer to hospital concentration?
- John Cleese explains extremism.
Fewer Doctors Staff Hospital ERs (Saves Money, Boosts Profits)
I only recall going to the emergency room once in my life. It was afterhours and I fell and cut my knee on a floor HVAC grate putting, parallel cuts on my knee cap. I was 12 or 13 at the time and had to have between 20 and 30 stitches. The cost to have my knee sewed up afterhours was around $150 as I recall. When adjusted for inflation that’s about $800. Go figure. If I had the same injury today the ER cost would be just short of $1 million assuming it was in-network. Of course, ER providers are never in-network thanks to private equity buying up emergency medical practices and investing in ER staffing firms.
Wednesday Links
- Study: the closing of the donut hole increased the use of prescription drugs by Medicare enrollees. It also looks like there was more substitution of branded drugs for generics.
- Study: Our findings suggest that shifting child care from the home to the market increases labor force participation and improves child outcomes.
- Study: “we find that bans or restrictions that specifically target ‘assault weapons’ increase demand for handguns, which are associated with the vast majority of firearm-related violence.
- The Peltzman effect: When you make an activity safer, there tends to be an offsetting (more risky) behavioral response.