Jonathan, Three Hundred Billion Dollars, Fifteen Million Dollars discussed on Ben Ferguson

Automatic TRANSCRIPT

Services up for every individual now we don't have middlemen we have a doctor patient relationship it'll work much better so you don't think that the price of drugs or the price of healthcare should be regulate regulated you think that the market should be more flooded with good doctors that show what they're going to charge so that like everything else when you look at me you know you're gonna go buy food you know there's cheaper here see gonna go over there well let me be clear I think there's a a role for regulation in the healthcare industry certainly safety issues of fairness overall the patients we need that type of regulation but we don't need regulation in the examination room we don't need regulations for somebody to tell me look if I'm ordering six summarise per month I'm getting penalized two hundred eighty five Bucks that would be absolutely immoral to do because it fits my own financial interests with the interest of a of a patient and and that you just can't regulate healthcare in that regard as far as the pharmaceutical industry's concerned there's no question the drugs are far too expensive when we when we include benefits that go through third party payers there's a huge black box in their shoes the there there's that there's a there's a a a a a confusion about where the the the monies are going that I'm paying at the pharmacy and we're monies are coming from the pharmacy going up to the manufacturers of pharmaceutical companies so if we just make it simple and easy and cut down for example the the patent links or open up the possibility that patents can't be extended for several reasons like a subtle change in an addition of a second medication we can open up for better competition and drive prices down the country yeah I think that's possible to do yes as you told me that law the pharmacies when they make a drug for every drug that comes out there's several failures but we end up paying for those failures they they if it takes about fifteen million dollars our Jonathan for a pharmaceutical company to bring a drug from can from inception to market and there are many studies takes almost eleven years on average for that to happen so clearly it takes an extraordinary amount of time effort and money to do that and sometimes he'll come out with maybe thirty fifty maybe eighty drugs that are worthless and one drug that'll make them three hundred billion dollars in their profits so somewhere in between there's a happy medium to keep the fairness of the pharmaceutical companies doing cutting edge research were all the countries of the world are looking toward our researchers in this country to do their job and make medicine move forward and and.

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