Socialized Healthcare Benefits

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Benefits of a Socialized Healthcare System

Many successful pharmaceutical companies have been created over the past decades. With this, controversy has arisen surrounding the amount they choose to price their medication. This is considered a major issue because raising prices has caused immense complications for consumers ranging from middle to lower class. Although cost is the main issue for consumers, it does not stop at cost. Like falling dominoes, it creates more conflicts such as health issues, depression, and trauma. In Jared Hopkin’s article in the Wall Street Journal “Almost 1,000 Drugs Get More Expensive," Hopkins said, “Pharmaceutical companies raised list prices of 983 arthritis, cancer, and other prescription drugs by an average …show more content…
Transparency and accountability are examples of this. Lower prices may lead to increased scrutiny of pharmaceutical companies’ pricing practices. This could encourage greater ethical pricing strategies for corrupt behavior. Lowering prices can help rebuild public trust in pharmaceutical companies, which may no longer be a thing. A symbiotic relationship between pharmaceutical companies and consumers could be cultivated through a compromise on medicine prices that balances affordability with fair returns for innovation. By fostering transparency and collaboration, pharmaceutical companies can engage in meaningful understanding with consumers to meet their needs and concerns regarding medication costs. This could lead to the development of pricing structures that consider the financial constraints of consumers while ensuring sustainable revenue streams for pharmaceutical companies in order to continue research and development efforts. Additionally, implementing pricing strategies that prioritize accessibility and affordability, such as tiered pricing based on income levels or region-specific pricing adjustments, can demonstrate a commitment to serving the diverse needs of consumers. Furthermore, investing in initiatives that promote public health education and disease prevention can empower consumers to make informed healthcare decisions and reduce the reliance on costly medications. …show more content…
Republicans often prioritize free-market principles, arguing that competition drives innovation and efficiency in healthcare delivery. They expressed concerns in regards to the government's role in healthcare, fearing increased taxes and bureaucratic control. Democrats, on the other hand, emphasize healthcare as a human right and advocate for government intervention to ensure access and affordability for all. This fundamental difference in ideology creates a persistent gridlock, with both sides hesitant to compromise on their core principles. A fear that politics will never be able to agree upon this subject is understandable. “When the May 1 NBC/Wall Street Journal survey asked what "should be the top priority for the federal government," 24% chose health care and 18% said immigration and border security. Job creation and growth came in third, at 14%” (Rove 1). This shows that healthcare is seen as arguably the most important issue, and an agreement is tangible. Further proof of this can be shown in other democratic countries. “Canada's single-payer healthcare system ensures that all citizens have access to essential medical services. It is publicly funded through taxation, providing comprehensive coverage for medically necessary services, including doctor visits, hospital stays, and most surgeries” (Blackmer 26). The National Health
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