HF0017 is in Rules Committee awaiting sequence.
Essays
Essay
The prices of drugs are a common complaint amongst Americans. It greatly affects many, leaving people to not have access to their medications and not be at their best health. However, there is a solution to these issues as Bill HF0017 combats them. All legislators should vote yes for Bill HF0017 as it is beneficial for Americans, prevents greed, and improves the health care system.
Firstly, Bill HF0017 is beneficial for Americans because it’ll lower the cost of drugs, thus making it more affordable for the average person. According to Rapfogel (2023), ⅓ of adults are unable to afford the necessary drugs they need to maintain their health. If 1 out of 3 adults are not able to pay for their medication then it is indicative of the price of drugs being too costly. Drugs are meant to provide for the consumers, yet it is not doing just that as it is unattainable for many. Because the prices of drugs are not benefitting a large percentage of people it leads to the poor health of many. America having about 33% of its adult population not being at optimal health due to drug costs means a population not meeting its full potential. Healthier adults means longer lives, and once the financial burden of drugs is removed, it will mean a happier life for more Americans. The bill will put in preventive measures of excessive pricing on drugs.This would expand the accessibility of drugs for all Americans especially those with lower-income and allows for more opportunities for people to take better care of their health. Without this bill, many Americans are having to sacrifice their health in order to elevate an ounce of financial stress, but if the bill is voted yes then it allows for more people to get the health care they need, and create a better life for the general population.
Secondly, it will prevent greed. The bill has put in place disciplinary actions and preventive measures of excessive pricing on drugs. Bushak (2024) found that “Major drugmakers raised the prices of 195 drugs between June 30th and July 5th, according to new data from advocacy organization Patients for Affordable Drugs (P4AD) — and 50% of the price hikes exceeded the rate of inflation” (Bushak, 2024). Drugs are known to be priced above the rate of inflation, however, this bill would incorporate some measures that could prevent this. The bill implements certain restrictions on how much a manufacturer can increase the prices of the wholesale acquisition cost of a certain percentage, as well as restrictions on the pricing of drugs that come in a 30-day supply. Any violations to these requirements will lead to disciplinary actions like the manufacturer repaying consumers and having revenues be given back to the state into a fund that’ll be used to lower the price for consumers. Manufacturers won’t be allowed to hike up prices of drugs and get away with it. This bill makes it so the manufacturers have to own up to their excessive drug prices, as well as give back to the consumers who are affected by this decision. The support for this bill would mean that corporate greed could be lessened and the benefit of consumers could take priority.
Lastly, it will improve the health care system. The increasing drug prices not only affects regular citizens, but also affects hospitals as stated by Krishnamurthy et al. (2024) “As drug prices continue to rise, hospitals have fewer resources available to finance other parts of their operations, such as paying staff and purchasing other supplies needed for patient care” (Krishanmurthy et al., 2024) With hospitals not having enough finance to fund their staff and acquire other necessary medical supplies, it means there will be a reduction in the quality of the health care that takes place. It will put more patients at risk of deteriorating health and ensuring that healthcare professionals are not receiving the compensation they deserve for the job they do. Furthermore, less finance for staffing could mean a staff shortage for the hospital and result in patients having to wait for a longer period of time. Drug prices are linked with the hospital prices as well since Barlas (2019) found that “The hospital industry maintains that rising drug prices accounts for their higher prices” (Barlas, 2019). Drug prices having a direct relationship with hospital prices makes not only acquiring drugs increasingly unattainable, but also make visiting a hospital unattainable for those that don’t have the money for it. The healthcare system is put in place to aid those in need of a health service, but if those in need avoid it due to prices then the system is not able to do what it was designed for. Voting for this bill would better help the healthcare system be able to fulfill its purpose and make it so hospital funds could go beyond drugs.
Some might argue that higher pricing is needed in order to fund innovations. However, Lanford (2021) states that “Drug makers claim high prices are necessary to support new drug development and innovation, but research shows that public investment in drug research and development combined with large industry profits leaves manufacturers room to lower prices while continuing to innovate” (Lanford, 2021). The increase of drug prices does not fuel more innovations, but rather a fuel for corporate greed. There is a possibility to have spare money for funding innovations while also aiding the public good by lowering prices, yet that has not been done because it would mean less wealth in the pockets of the drug industry. Those new drug developments and innovation will indeed aid those in the future, but those who are here now are lacking the healthcare they need. If lowering the prices still allows for room to fund innovation, while also provides for those in need now, then it needs to be done. Although there are claims that cheaper prices means less innovations, in actuality, the bill will not prevent funding that could go towards new development and innovations.
Bill HF0017 should be supported by members of the senate as it is beneficial for Americans, impedes corruption, and improves the healthcare system. The bill will lower the cost of drugs to Americans, thus making it more accessible and greatly benefiting the population. It has put in place preventative measures for excessive drug prices that’ll be enforced, leading to less corporate greed taking place. Lastly, the decreased drug prices means more funding towards the healthcare system that could go elsewhere like staff and other medical supplies, resulting in lower hospital prices and better healthcare. Therefore, all legislators should vote yes for the Bill HF0017.
References
Barlas, S. (2019, May). Are Hospital Prices a Bigger Problem than Drug Prices? National Library of Medicine. https://pmc.ncbi.nlm.nih.gov/articles/PMC6487976/#:~:text=Higher%20Drug%20Prices%20Linked%20to,accounts%20for%20their%20higher%20prices
Bushak, L. (2024, July 15). Report: Pharm hikes prices of 195 drugs, many higher than rate of inflation. Medical Marketing And Media. https://www.mmm-online.com/home/channel/pharma-hikes-prices-of-drugs-inflation/
Krishnamurthy, B., & Director., & Health Analytics & Policy., Parikh, M., & Associate Director of Health Analytics and Policy. (2024, May 22). Drug Prices and Shortages Jeopardize Patient Access to Quality Hospital Care. American Hospital Association. https://www.aha.org/news/blog/2024-05-22-drug-prices-and-shortages-jeopardize-patient-access-quality-hospital-care
Lanford, S. (March 8, 2021). Will Laws to Lower Drug Prices Harm Innovation? The Evidence Says No. National Academy For State Health Policy. https://nashp.org/will-laws-to-lower-drug-prices-harm-innovation-the-evidence-says-no/#:~:text=Drug%20makers%20claim%20high%20prices,prices%20while%20continuing%20to%20innovate.
Rapfogel, N. (November 1, 2023). Drug Companies Continue To Hike Prices Above Inflation. American Progress. https://www.americanprogress.org/article/drug-companies-continue-to-hike-prices-above-inflation/