(WASHINGTON POST)Â A discussion of policy solutions to price hikes that “shock the conscience.”
A Senate investigation of drug-price spikes at four companies kicked off WednesdayÂ with specialists from all corners of the health-care system testifying that they’re powerless to manage the out-of-control prescription costs.
The hearing launches the Special Committee on Aging’s investigation into the soaring prices of old drugs, including the recentÂ overnight price hike of DaraprimÂ from $18 to $750. Â Doctors and policy experts offeredÂ a slew of proposed policy solutions, such as expediting applications for generic drugs to increaseÂ competition and requiring companies to revealÂ how much drugs really cost.
But the testimony to the committee in advance of the hearing underlined a stark fact about the current system, too: Doctors, companies that manage prescription drug benefits, hospitals, and health care policy experts alike feel fairly powerless to control high drug prices — because theyÂ are allowed.