This a transcript to episode 2 of Health Savings News. In the interest of making the podcast more accessible, we will post transcripts every two weeks as episodes release.
Hello, and welcome to Health Savings News, the podcast about healthcare savings in America and how to save money on the often expensive care all kinds of people need. I’m your host, Evan O’Connor, joined by retired doctors, Rich Sagall and Mike Woods. How’s it going guys?
Great. Each episode we discuss healthcare costs in America, offer tips for saving money and relevant news that affects and reflects the expense landscape of healthcare in the United States. Today’s topic is prescription costs. The United States does not regulate or negotiate the price of prescription drugs. Pharmaceutical companies are allowed to set their own prices for any given product, leading to excessive drug prices being the single largest area of healthcare overspending in the U.S. Many drugs cost over $120,000 per year. A few drugs even approach a million dollars annually.