Friday, February 26, 2016

You can't put a dollar value on life

The latest news out of the pharma industry is that they want to put a dollar value on a month of life. I do not think this is possible. But they want to so they can continue to justify their high priced medications.

I think many people when faced with the knowledge their life is about to be cut short would do anything or pay any price to be able to stick around longer. I am sure I would, unless I was in horrible pain or had no quality of life.

To start with how would you figure out the monetary value of life, or a month of life even? You can look at the basic necessities - food and shelter - or lost salary, or medical costs to keep someone alive. But what would that mean? I just don't understand this concept.

And to try to pull a number out of thin air to justify the cost of a medication is nonsensical.

Logical pricing comes from cost to design and create and throw in some supply and demand. And the pharma industry's way of a putting development costs from multiple drugs that didn't work out in to the development costs from a new drug and pulling a number out of a hat for perceived value for the basis of pricing, doesn't really work. And always end up in their favor.

I could never put a value on my life. Its not something that came with a number on it. So let's not try to create something that doesn't exist.

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