What If 1% of Pharmaceutical Revenues Fund a Respite Program?

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What If 1% of Pharmaceutical Revenues Fund a Respite Program?

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The other day in our chat room two of our members discussed their caree's medications. They shared side effects, effectiveness and reasons for the medications. If you didn't know they both cared for spouses, you would have sworn they were doctors.

It's the same for you. You understand your caree's medications like no one else. In many ways, you are the best customer a pharmaceutical company could hope for.

What if, in turn, the pharmaceutical companies supported you.

I wrote yesterday about an idea I had to fund a national respite program by allowing everyone who files an income tax to select that they want $3 of their federal tax to go to a national respite program.

I had another idea.

What if a pharmaceutical company had to earmark 1% of its annual revenue to fund a respite program that helps those who care for a family member? What if the respite program helped those who care take a break, manage a crisis, get extra help during a particularly intense time, receive a scholarship to attend the National Caregiving Conference?

According to the QuintilesIMS, U.S. pharmaceutical companies earned an estimated $323 billion in 2016. If my math is correct, 1% of $323 billion is $3.23 billion dollars.

Even if the companies donate .5%, the amount donated would be just about $1.6 billion. That level of investment means family caregivers can keep their jobs, communities have the financial support for programs like adult day services and those who care can also take care of themselves.

I do believe that would help.

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Lark

Denise, I completely agree. Some of the companies do supply medications when a doctor identifies a patient as not able to pay for the medication. The pharmaceutical companies might even be open to your idea because it does not threaten their industry. They have a huge voice in the government and I cannot imagine the power of their lobbyists but your suggestion would not harm them at all and they would not miss that kind of money. I would prefer the government not be their partner in the administration of those dollars. What would you suggest in terms of logistics?

CathyJ

It would make a huge difference and would be doable. Big pharma is about $$ and unfortunately not focused (in my opinion) on the individual person needing the medications. Medical costs are astronomical and seeking approval for medications is cumbersome. The ability to get the meds you need for your caree is a huge hurdle for too many. The cost is prohibitive. Yet, the companies are making hundreds of billions in profits. Yes, a minute percentage of those profits could provide life changing support for caregivers. I agree 100%.