All those frivolous lawsuits against pharmaceutical companies increase the costs of healthcare
This is one of the biggest pieces of misinformation disseminated by Big Pharma to protect their already-inflated profit margins. The politicians who parrot this popular talking point on their behalf are flat wrong — and, we feel, morally suspect.
The fact of the matter is that medical and pharma lawsuits have an absolutely minimal effect on the nation’s health care costs.
Dr. Marty Makary, an associate professor of surgery and health policy at the Johns Hopkins University School of Medicine, said “the notion that frivolous claims are routinely resulting in $100 million payouts is not true.” Tort reform, which many politicians ask for, would have a marginal impact on health-care costs, and ultimately only serve to further insulate the massive pharma companies from accepting responsibility for the injuries caused by some of their medications. In fact, when it comes to malpractice lawsuits, study after study show that their costs only make up around 1% of the nation’s $2.6 trillion health-care bill.
Other studies show that a very small percentage of the victims of medical side effects, from prescription drugs and medical devices, decide to sue. Why? Well, for many it’s because of a misunderstanding. Even though a prescription drug like Yaz may have ruined their life, they choose not to sue because they like their doctor and don’t want them getting in trouble.
What the victims don’t realize is that lawsuits for prescription and medical device side effects don’t hurt the doctor. Doctors are protected by something called “informed consent.” These types of lawsuits only go after Big Pharma, and in most cases, these companies pre-bill for the anticipated settlements by charging Americans outrages prices for their medications.
Big Pharma is getting rich off of drugs that they know can seriously hurt people. In an effort to profit, these companies will downplay the risk of side effects, or even hide the risks altogether. This is why they prefer to settle such cases out of court. Innocent people are dying at the hands of Big Pharma, and that is why many Americans are fighting back.
The victims of Yaz, Lipitor, Ocella, transvaginal mesh, Granuflo, and many other drugs have taken the fight to court. Using the power of mass tort lawsuits, these Americans have found a no-risk way to defend themselves. The attorneys they hire only get paid if a case is won, and even then the attorneys only take a small cut.
If you’ve suffered prescription side effect and want to see a list of on-going lawsuits, click here!
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