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Thrown Away: $3 Billion in Cancer Drug Spending Wasted
Drug-makers only sell one-size vials, which patients must pay for regardless of whether or not they actually need the full amount.
As headlines break about skyrocketing prices, lawmakers have been wracking their brains to come up with a solution. A study published this month suggests a simple fix – requiring drug-makers to sell their products in small packages.
By changing the way cancer drugs are packages U.S. private health insurance companies could save $3 billion a year, according to the report published in the medical journal BMJ. The major savings derives from the fact that many top-selling cancer drugs only come in one-size vials, even though they contain more than what most patients need. Once the dosage has been administered, nurses throw away the leftovers, but patients and insurers still pay for the full drug dosage.
Researchers at Memorial Sloan Kettering Cancer Center and the University of Chicago projected the total cost of spending on cancer drugs in 2016 at $18 billion in order to conduct their study. They then examined the top 20 cancer drugs that were administered in specific doses according to a patient’s body size, and those only sold in a single packaging size. They studied how much was left over of each drug, and found that about 10% of the total spending would be wasted. In the end, they estimated $1.8 billion went to drug companies for medicines that ended up being thrown out.
“This is all due to decisions about how much drug companies decide to put in each single dose vial,” Dr. Peter Bach, director at the Center for Health Policy and Outcomes at Memorial Sloan Kettering Cancer Center, said in a statement published by the U.S. News. “They almost certainly realize how these decisions translate into revenue.”
Hospitals and doctors charge a mark-up in medical bills each time cancer drugs are used leading to a substantial profit. It’s estimated that these markups lead to an average of 22% for doctors and 142% for hospitals, totaling $1 billion in spending a year on drugs that aren’t used.
The burden of these charges falls on patients, private insurance companies and Medicare.
About a third of the drug rituximab, which treats lymphomas and leukemias, is estimated to be wasted each time it’s administered. That waste results in an excess spending of $254 million.
Leftover drugs are rarely used on other patients, partially because safety standards only allow for them to be used no more than six hours after the drugs has been opened.
“Manufacturers are committed to working with the FDA and Congress to create a more nimble regulatory approval process that enables manufacturers to modify their products as we learn about the safety, efficacy and manufacturing of new medicines from the real world clinical setting,” said Allyson Funk, senior director of the Pharmaceutical Research and Manufacturers of America.
Smaller packaging isn’t an outrageous ask since it’s already available in European countries, where the government plays a larger role in drug pricing.
How do you feel about overpaying for cancer drugs? What can be done to decrease waste? Share your opinions in the comment section below.