In pharmacies across the country, sticker shock is not uncommon. The high price of prescription drugs is one of the biggest problems facing the nation’s health care system, Joyce Frieden explained on Friday, April 29, during the “Covering the controversy over high prescription drug costs” panel at Health Journalism 2022 in Austin.
Each speaker offered a different perspective as to why prescription medications cost so much. Frieden’s expert panelists included Douglas Holtz-Eakin, Ph.D., the former director of the Congressional Budget Office (CBO) and current president of the American Action Forum, a center-right think tank on fiscal policy; Madelaine A. Feldman, M.D., a clinical assistant professor at the Tulane University School of Medicine, a practicing rheumatologist and president of the Coalition of State Rheumatology Organizations; and Gerard Anderson, Ph.D., a professor of health policy and management and international health at the Johns Hopkins Bloomberg School of Public Health.
“So, what is being done to solve the problem of high prescription drug costs?” asked Frieden, the Washington editor for MedPage Today. “And are there angles to this story that have yet to be fully covered today?”
Distinguishing between brand-name and generic drug prices
Holtz-Eakin began by talking about one of his frustrations with the usual coverage of drug costs. “When we talk about the high cost of prescription drugs, it’s important to be precise about which price we’re talking about,” he said. Too often journalists do not distinguish between the costs of brand-name and generic drugs or between the net price of drugs after rebates and discounts. Also, we often fail to write about the actual cost at the pharmacy counter and what consumers pay out of pocket, he noted. “Being clear about which price you’re trying to keep track of matters a lot,” he said.