A Patent Solution:
Economics & Law — By Joe Carter on May 16, 2006 at 12:36 am
How to Provide a Medicare Drug Benefit
Earlier this year, the U.S. government’s implemented the Medicare Part D drug subsidy program which provides prescription drug coverage for the 42 million elderly and disabled Medicare beneficiaries. With the government now footing the bill, it is expected that the demand for prescription drugs will increase dramatically over the next several years.
In the short term this is good news. Higher demand means more profits which drives stock prices even higher, improving the economy and 401Ks. But the long term consequences may prove to be detrimental. Some financial analysts caution that the program could become a costly expense that could entice the government into imposing price controls on medicines.
There is a solution, however, that could benefit the government, the pharmaceutical companies, and, most importantly, the taxpayer. Rather than bore you with elaborate detail (which I admittedly don ‘