In the United States prescription drug prices are high since the government sort of gives researchers and manufacturers monopoly rights. It is as if these companies have been out there to make lots of profits through the society an issue that has been going on for years. In this article, there are more answers as to why the drug rise in the United States might be an issue people will have to deal with for more years.
The monopoly laws put in place gives the producers of these drugs the upper hand since it is a law that has been in existence for over the years. There are no control of the prices of medication by the government since the manufacturers have been given the rights to set their prices thuds taking advantage of the consumers. When there is competition, the prices keep on fluctuating since a firm knows that clients will go for the one whose prices are cheaper and affordable.
Research is expensive, and these companies invest in researchers to check if their drug is effective if it is new and sometimes that could take over a decade; therefore, they try to compensate by increasing the prices. If the market is small the firms try to make money by shooting the prices since these medications are not purchased on an occasional basis. When a firm gets a patent right of twenty years, that is a long time as compared to the way things work in other countries, and it is enough time for them to exploit the consumers.
Marketing is not a cheap affair since one must convenience their clients why their medication is better, and since the firms can sell to their clients directly after marketing, that is the way they compensate for the expenses. In as much as insurance companies would want to negotiate for the drug prices to lower, they are on a fix and would be hard for them since the drug makers give them a take it or leave it option knowing there is no one else with the drug. Both the manufacturers and the insurance companies want to make the drugs affordable but it also depends on the agreement between them.
If you want to get the medication at a lower cost, ensure there is an insurance company one is working with since they cater for most of the cost but also be ready to negotiate. An insurance company is a long-term goal therefore take your time before picking a company but make sure it covers the drugs you need to avoid any issues later since it is the best option to cater for your medication. There is always an alternative and if one finds their drugs are expensive, ask the pharmacist if there are other drugs they can recommend you use provided they will not have negative impacts on you.