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Tuesday, November 09, 2010

How do U.S. drug costs compare with other forms of universal health care?

Photo by Fibonacci Blue
Our neighbor to the north is the best example, and the comparison is very unfavorable when it comes to U.S. citizens. In Canada, the per capita spending on drugs is $509, in contrast with $728 in this country. Drug prices in Canada average from 35 percent to 45 percent lower than here, which has prompted Americans to spend around $1 billion per year north of the border. One of the reasons is a system of centralized buying that controls costs. The GOP has made sure so far that this doesn’t happen here.

In conversations with two Canadian families that have recently left that country to resettle in the U.S., I hear nothing but admiration for their form of socialized medicine. They agree it is not perfect, but it does exceed U.S. health care in both costs and full coverage of its citizens. Also, the Canadian Patented Medicine Prices Review Board has the authority to set fair and reasonable prices on patented drugs.

Our new health care law does provide saving for seniors in dealing with the “doughnut hole, which could translate to all citizens in the long term. Of course, if you are flush and don’t worry about the costs of your medications, or you don’t really care if your fellow Americans have medical coverage, go ahead and bash President Obama’s health care reform.

Read more here.

Read earlier posts, “Drug makers desert public over profits 1 and 2.”

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