After three months of physical therapy, her doctor told her that it was time to get an MRI. She had already paid off her annual deductible, meaning the imaging test would “only” cost her the $150 co-pay. An imaging center near where she worked charged $1500 for the test. Just two miles away, another facility…
In the old days, blockbuster drugs were moderately expensive pills taken by hundreds of thousands of patients. Think blood pressure, cholesterol and diabetes pills. But today, many blockbusters are designed to target much less common diseases, illnesses like multiple sclerosis and rheumatoid arthritis or even specific subcategories of cancer. These medications have become blockbusters not…
You may have heard this week about a new study, led by my friend and colleague Pete Cram, which revealed astonishing variation in prices for hip replacement surgery. Staggering, actually—ranging from a bit over $10,000 to over $125,000. I have blogged a bit about hospital prices, and doctor fees, even a recent post on orthopedic…
In a recent blog post, David Berreby writes about some work that George Loewenstein and I have done on people’s inability to predict how illness or disability will make them feel, and what this inability means for things like “pain and suffering” awards from juries. Thought you might find the blog interesting. Here is the…
If an antibiotic would cure your infection, your doctor would probably still warn you about the chance of sun sensitivity before prescribing the pill. But even when the costs of a medical intervention might force patients to choose between paying the bill or keeping up with their mortgages, American physicians rarely discuss that serious side effect with…
We’ve done a lot of things in the United States over the last few decades to curb tobacco consumption. We’ve warned people cigarettes will kill them, created persuasive ad campaigns to scare people away from cigarettes, and added a hefty tax to the product. As a result, cigarette use in United States is lower than…