I had asked the students in my Intro to Global Business course to read the following story and answer the question (with appropriate justification)
What action(s) would you take if YOU were in charge of Medicare or Medicaid?
Out of 11 "well-argued" responses, 6 said they would NOT pay for Provenge, while 5 said they would pay. An interesting result!
Dendreon's $93,000 prostate cancer drug: Is Provenge worth it? - HealthPop - CBS News: "Are four months of life worth $93,000? Medicare officials seem to think so. They said Wednesday that the program will pay that much for Provenge, a first-of-a-kind therapy that can give men with incurable prostate cancer an extra four months to live.
Prostate cancer patients point out that the median survival time with Provenge is twice that of chemotherapy, which is marked by significant side effects.
The Centers for Medicare and Medicaid called the drug made by Dendreon Corp. a 'reasonable and necessary' medicine. The decision ensures that millions of men would be able to afford the drug through Medicare. Most prostate cancer patients are 65 or older."
Prostate cancer patients point out that the median survival time with Provenge is twice that of chemotherapy, which is marked by significant side effects.
The Centers for Medicare and Medicaid called the drug made by Dendreon Corp. a 'reasonable and necessary' medicine. The decision ensures that millions of men would be able to afford the drug through Medicare. Most prostate cancer patients are 65 or older."
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