Medical Cost-Benefit Debate

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Initial Post Savetria Palmer Analysis and assessment of the ethical and economic challenges related to financing healthcare According to Kovner and Knickman, the issue of how we pay for health care service dominated the public policy agenda during the first 2 years of the Obama administration (2011). While we probably all agree that our healthcare system needs to be revamped it is not an easy fix. Thus, the issue remains elusive. The cost of healthcare continues to spiral out of control. Some of the drivers of rising healthcare cost are demographics and new technologies (Laureate Education, 2012). In the United States we have a large number of our citizens who are at retirement age, chronically ill and require more care (Laureate Education, 2012). Also, we have new technology that is…show more content…
The Food and Drug Administration [FDA] has approved the first vaccine to treat prostate cancer, called Provenge (Stein, 2010). The vaccine comes with a price tag of $93,000 and increases the median survival rate from 21.7 months to 25.8 months (Stein, 2010). The ethical dilemma, then is, should the government spend this much money on a drug that only extends life for two years? According to Stein, the Centers for Medicare & Medicaid Services [CMS] has launched a “national coverage analysis” of the vaccine even though it not supposed to take cost into consideration (Stein, 2010). The article cites those who want to save money in the healthcare system and those who advocate for healthcare for all regardless of the cost. I always put myself in the shoes of my patient and their family. If I had a family member who was terminally ill and there was a drug that could increase their survival rate I would want to spend whatever time I could with my loved

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