Insulin Prices On Steep Rise

 

Doctor Robert Dobrzynski shows the supplies a diabetic uses. While talking about the price of each supply and how long the supplies can last a diabetic. 

By Nolan Carlson
JRN 100 Staff Writer
    

One in four diabetics ends up rationing their insulin because prices are too high.

 In a study done by the Rand Corporation titled “Comparing Insulin Prices in the United States to Other Countries”, the United States had the highest insulin prices out of the thirty-two countries surveyed.

“Diabetes is the most expensive chronic illness in the nation. There are so many factors that a diabetic must pay for, it is hard to keep up. I try to keep extra supplies for patients that may not be able to get supplies,” said Doctor Robert Dobrzynski, also a diabetic. One of his biggest fears for a patient is that they fall ill due to the lack of insulin.

Dobrzynki said that patients who have cut their medication tend to have higher a1c’s which can cause health issues including kidney disease, amputation of limbs, or death.

According to the Rand Corporation study, the price of insulin has increased 11% from 2001 to 2021, bringing the current average price to $6,000 per person each year depending on healthcare coverage.

The Rand Corporation states even with insurance U.S. insulin prices are still 44% higher than other countries. That does not include test strips, blood sugar testing meter, and others in a long list of supplies. The study said that diabetes supplies cost the United States $327 billion a year.

The insurance companies are the ones that negotiate prices on medicine, it is beneficial for prices to be higher. Increasing the demand for diabetics to use their insurance.

For a large company, the price of insulin is reasonable, if a diabetic was to buy insulin without insurance they would have to pay the full $6,000 a year. With insurance, this price can be discounted to $2,000 - $4,000 depending on the type of insurance coverage a patient has.

That is only for insulin, a diabetic insulin pump can cost around $6,000 alone. These pumps are not waterproof and can run into a lot of issues. With a high theft rate as they are sold on the black market.

Without insurance if the pump is damaged or destroyed a diabetic would be forced to switch to insulin pen injection, this is usually the cheaper option. The other option is to pay the $6,000 again for a new diabetic pump.

“Medical companies have a different type of demand curve. With diabetes the demand curve becomes nonexistence; demand is paid by life,” said Professor Stephen Flaherty professor of Healthcare Data Analytics and Population Health at Stonehill College in Easton Massachusetts. He said he feels the inability to strike against insulin manufactures is the reason that prices keep rising. People will pay more money when their or their child’s life is on the line.

With about 8.3 million diabetics using insulin daily, there is a high demand for the medications. However, there is little competition to keep costs down. Insulin users cannot stop buying their medication because this can result in death or severe health consequences like amputations or kidney disease.

What worries diabetics the most is the price of insulin is raising, at rates we have not seen in other countries. The Rand Corporation states insulin prices raised 14% from 2012 to 2019.

“Diabetics that have the chance usually go to Canada to buy their insulin,” said Dr. Dobrzynski. The price of insulin in Canada is at $12.00 per vial, while in America is $98.70 per vial. Many researchers feel the way insulin is manufactured can have an impact on the price of insulin. There are three types of insulin beef and pork insulin, human synthetic insulin, and analog insulin.

Analog is the most expensive type of insulin which is made in a lab. Analog is most common in first-world countries. But America is responsible for the most analog sales around the world.

According to the Rand Corporation, 92% of insulin sales in America are analog insulin. While in other first world countries analog insulin is only responsible for 80% of sales.

Since manufacturers are pushing analog insulin, the annual price is estimated to be $12,446 per patient in 2024.

No one should have to worry about if they have enough insulin for the month.

Comparing Insulin Prices In the United States to other Countries