Total US prescription drug spending rose 13% in 2014, the biggest increase in a decade. Driving this trend is spending on branded specialty drugs, which rose an unprecedented 31%. This column discusses recent research into the relationship between inflation-adjusted launch prices and survival benefits and approval year for 58 anticancer drugs approved in the US between 1995 and 2013. The authors find that launch prices are going up by $8,500 per year, approximately 12% year over year.
Rena M. Conti, Ernst Berndt, David H. Howard, 25 March 2015
Marty Gaynor, Carol Propper, Stephan Seiler, 13 January 2013
Greater choice and competition in healthcare is a popular reform model. This column discusses recent research suggesting that once restrictions on choice in the UK’s NHS were lifted, patients receiving cardiac surgery became more responsive to the quality of their care. This saved lives and gave hospitals a greater incentive to improve quality.
Carol Propper, John Van Reenen, 30 January 2008
Centrally determined pay for public sector workers like NHS nurses acts as a maximum wage in some labour markets. Here is a summary of a new study arguing that the resulting hiring difficulties are causing patient deaths.