Price controls would kill medical innovation
Department of Health and Human Services Secretary Alex Azar recently proposed sweeping reforms to Medicare. He hopes the changes will reduce the price of many cancer drugs and other advanced therapies.
The proposal may accomplish that goal — but at great costs to patients’ health. The overhaul would stifle innovation and smother the cures of tomorrow.
The proposal targets Medicare Part B drugs, which include advanced cancer treatments, immunotherapies, and other medicines administered under physician supervision.
According to HHS, these drugs cost 80 percent more, on average, in the United States than in most European nations.
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