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Monday, August 3, 2020 | History

3 edition of Did Medicare induce pharmaceutical innovation? found in the catalog.

Did Medicare induce pharmaceutical innovation?

Did Medicare induce pharmaceutical innovation?

  • 328 Want to read
  • 34 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Medicare -- Costs -- Evaluation,
  • Prescription pricing -- Econometric models,
  • Older people -- Medical care -- Economic aspects

  • Edition Notes

    StatementDaron Acemoglu ... [et al.].
    SeriesNBER working paper series -- working paper 11949., Working paper series (National Bureau of Economic Research) -- working paper no. 11949.
    ContributionsAcemoglu, Daron., National Bureau of Economic Research.
    The Physical Object
    Pagination9, [4] p. :
    ID Numbers
    Open LibraryOL17628657M
    OCLC/WorldCa63521156

    In this paper, we investigate whether Medicare induced pharmaceutical innovations directed towards the elderly. Medicare could have played such a role only if two conditions were met. The increase in pharmaceutical revenue will induce more R&D and innovation. The number of new drug introductions induced by Part D will depend on the elasticity of new drug introductions with respect to pharmaceutical revenues. Acemoglu and Linn () estimate that the elasticity of non-generic drug approvals with respect to revenues is.

    Prescription for Medicare. For over 10 years, Medicare Parts B and D have been providing seniors with access to lifesaving treatments. But now seniors are increasingly facing higher out of pocket costs on the medicines they need. In response, there has been a lot of talk in Washington about changing Medicare .   The president says the actions will lower drug prices, but policy experts say they will likely offer patients only minimal relief and may take months to implement, if they're implemented at all.

      The fourth reason the Sanders single-payer Medicare-for-All plan is a bad idea is the adverse effects it will have on medical innovation. I recently pointed out .   Medicare for All hurts innovation for all, says pharmacy manager A government-run system would undercut the ability of pharmaceutical R&D to .


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Did Medicare induce pharmaceutical innovation? Download PDF EPUB FB2

Did Medicare Induce Pharmaceutical Innovation. Daron Acemoglu, David Cutler, Amy Finkelstein, Joshua Linn. NBER Working Paper No. Issued in January NBER Program(s):Health Care, Productivity, Innovation, and Entrepreneurship.

The introduction of Medicare in was the single largest change in health insurance coverage in U.S. by: (PDF) Did Medicare Induce Pharmaceutical Innovation. | Amy Finkelstein - The introduction of Medicare in was the single largest change in health insurance coverage in U.S.

history. Many economists and commentators have conjectured that the introduction of Medicare may have also been an important impetus for the. In this paper, we investigate whether Medicare induced pharmaceutical innovations directed towards the elderly. Medicare could have played such a Did Medicare induce pharmaceutical innovation?

book only if two conditions were met. First, Medicare would have to increase drug spending by the elderly. Correspondingly, we also find no evidence of a shift in pharmaceutical innovation towards therapeutic categories most used by the elderly.

On the whole, therefore, our evidence does not provide. is a platform for academics to share research papers. Such an impact on innovation could also have implications for the cost of the new Medicare prescription drug bene fit. For Medicare to induce innovation in new pharmaceuticals, a necessary (but not sufficient) condition is for it to have increased the demand for prescription drugs among the by: For Medicare to induce innovation in new pharmaceuticals, a necessary (but not sufficient) condition is for it to have increased the demand for prescription drugs among the elderly.

Our empirical work finds no evidence of a "first-stage" effect of Medicare on prescription drug expenditure by the elderly. Correspondingly, we also find no evidence of a shift in pharmaceutical innovation towards therapeutic categories most used by the by: Did Medicare Induce Pharmaceutical Innovation.

by Daron Acemoglu, David Cutler, Amy Finkelstein and Joshua Linn. Published in vol issue 2, pages. For Medicare to induce innovation in new pharmaceuticals, a necessary (but not su"cient) condition is for it to have increased the demand for prescription drugs among the elderly.

Although prior to Medicare did not cover prescription drugs, it may have indirectly increased demand for prescription drugs since it covered physician care. BibTeX @ARTICLE{Acemoglu06didmedicare, author = {Author(s) Daron Acemoglu and David Cutler and Amy Finkelstein and Joshua Linn and Daron Acemoglu and David Cutler and Amy Finkelstein and Joshua Linn}, title = {Did Medicare Induce Pharmaceutical Innovation}, journal = {American Economic Review}, year = {}, pages = {}}.

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Did Medicare Induce Pharmaceutical Innovation By Author(s) Daron Acemoglu, David Cutler, Amy Finkelstein and Joshua LinnDaron Acemoglu, David Cutler, Amy Finkelstein and Joshua Linn Abstract. For Medicare to induce innovation in new pharmaceuticals, a necessary (but not sufficient) condition is for it to have increased the demand for prescription drugs among the by: Enter the password to open this PDF file: Cancel OK.

File name:. The existence of other, lesser-known laws on the books further complicates the issue. Any future president will have to deal with these laws for Medicare’s drug price control efforts to be.

CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): (Article begins on next page) The Harvard community has made this article openly available.

Please share how this access benefits you. Your story matters. Citation Acemoglu, Daron, David Cutler, Amy Finkelstein and Joshua Linn. Did medicare induce pharmaceutical innovation. Health care in America is markedly different now than when President Lyndon B.

Johnson signed Medicare and Medicaid into law on J Since. In contrast to NIH, the Medicare and Medicaid stimulus to drug innovation has resided not in the production of new scientists or the patented uses of new knowledge but principally in markets and pricing.

The sizable expansion in the medical market that came with Medicare and. Previous studies also indicate that increases in market size induce pharmaceutical innovation.

This paper assesses the impact of the Medicare Part D legislation on pharmaceutical research and development (R&D), using time-series data on the number of drugs entering preclinical and clinical development by therapeutic class and phase.

In the most ambitious project of this nature, Acemoglu et al. () demonstrated that the introduction of Medicare did not induce pharmaceutical innovation: an increase in drug usage by the elderly did not correspond with an increase in FDA drug .Did Medicare Induce Pharmaceutical Innovation?

American Economic Review Papers and Proceedings, 96(2): (with Daron Acemoglu, David Cutler, and Joshua Linn) Dynamic Inefficiencies in Insurance Markets: Evidence from Long-Term Care Insurance   The sizable expansion in the medical market that came with MM drew a number of companies into the generic drug business, a type of innovation, many of them from outside the pharmaceutical sector.