In this editorial, Drs. Skinner and Chandra respond to a letter published by Pres. Barack Obama assessing the success of the Affordable Care Act (ACA). While the authors agree that the ACA represents innovative and important legislation, they describe a number of shortcomings and argue that it falls short of reducing cost growth in healthcare or making healthcare more affordable overall.
Commentary 5/26/17Are Biopharmaceutical Budget Caps Good Public Policy?
Medical innovation has generated significant gains in health over the past decades, but these advances have been accompanied by rapid growth in healthcare spending. Faced with a growing number of high-cost but high impact innovations, some have argued to constrain prices for new therapies – especially through global caps on pharmaceutical spending and limits on prices for individual drugs. We show that applying this threshold to past innovations would have limited access to many highly valuable drugs such as statins and anti-retrovirals. We also argue that budget caps violate several important principles of health policy.READ MORE