Some 6 million diabetic Americans receive insulin, with about 1.5 million with type 1 diabetes needing insulin to survive. Insulin prices, however, have seen a significant surge — to the tune of 240 percent — over the past decade, according to a Modern Healthcare Executive report.
University of Washington School of Medicine’s Irl Hirsch, though, told MHE in 2017 that analogue insulin is “actually very cheap to make.”
Hirsch says there are a number of reasons patients say, “I can’t afford my insulin,” but the most common are:
- Expensive high-deductible plans through the Affordable Care Act;
- Medicare Part D patients could be in the “donut hole”;
- Young patients are unsure how to move through the insurance systems; or
- Patients are unable to afford high co-pays associated with insulin.
To read the full report on MHE, click here.