Wachovia Bank is sponsoring an ethics conference with Appalachian State University.  Healthcare issues including “who should pay for basic healthcare” as well as the importance of savings versus credit, will be discussed by executive and academic panels. “It’s a way to enhance understanding and raise awareness… the two issues cross over: healthcare debt goes along with the debt of the world,” comments Susan D. Roggenkamp, Associate Professor at Appalachian State University in the Department of Management.

Bioethics International (BEI), proposed a similar topic to the BIOTECHNOLOGY Industry Organization (BIO) for their 2009 international convention.  Leading executives from pharmaceutical companies, think tanks and universities confirmed to discuss drug access and affordability issues including potential steps for sustainable progress.   

Bioethics International’s proposed panel: Newest Generation of Drugs: Emerging Market Dynamics, Affordability & Patient Impact 

Description:  The use of the newest generation of bioengineered and “specialty” drugs is expected to explode, but these new drugs cost a lot — often $2,000 to $3,000 per month.   Insured patients must increasingly pay a percentage of their drug tab, potentially a monthly bill of $600 to $900 for a drug that they may need for many years or even a lifetime.  In 2007, bioengineered and “specialty” drugs cost nearly $59 billion and is predicted to reach $98 billion by 2011.  One local insurer, states that “specialty” drugs account for 1% of their pharmacy claims, but 15% of the costs. The rising bill for such complex drugs can financially overwhelm patients and employers, potentially unravel the philosophy of health insurance and spark questions of who should pay and how to pay for the rising costs.
Objectives:

• To discuss the costs and impacts of the new drugs for patients, employers, the healthcare and biotechnology industries & health insurance
• To explore efforts to address and solutions to affordability and access issues
• To explore options regarding who can and should pay for the newest generation of drugs

BIO will finalize the convention panels around November, hopefully the industry will address these critical topics for patients, employers, insurers and other key stakeholders.