This may be one of the most revolutionary changes in years when it comes to the pharmaceutical industry and health care costs.
Under a new rule from the Department of Health and Human Services (HHS), drug companies will be required to disclose the list price of medicine that’s advertised on TV.
Officials say the rule takes effect in 60 days. The Secretary of HHS says he expects the pharmaceutical industry to mount challenges to the rule, although Johnson and Johnson announced in February it would reveal its pricing.
There’s long been mystery and controversy surrounding drug prices and what the customer is charged. One in four Americans say they cannot afford the costs of their prescription drugs.
Supporters of the new rule say it will allow patients to consider the cost of a given treatment and discuss with their doctor whether another more cost effective medicine or generic is available.
A recent episode of Full Measure examined the controversy surrounding the notion of advertising medicine and vaccines on TV. The U.S. is one of only two countries that allows the practice of television “direct to consumer” ads for prescription drugs. Watch the report below.
Full Measure also reported on an amazing health care cost solution recently implemented by Montana. Watch below: