Drugs that Cost More Work Better, Says Study

National Public Radio recently reported that people feel better after losing more money on the cost of their prescription drugs. According to a study carried out by MIT, when two identical placebos -- one marketed as an expensive ($2.50) pill and one marketed as a generic ($0.10) pill -- are administered, participants say the more expensive pill worked better at managing pain (even though the two placebos were identical and both lacked pain-killing additives).

Consequences of the High-Cost Placebo Drug Study

The study's revelation has far-reaching consequences. For example, it may explain why brand-name, high-cost drugs have been so successful and why generic drugs are less popular among consumers. It may also explain why other countries are able to cover socialized medicine and still treat citizens at a lower cost.

It could also mean a change in policy. If health insurance plans cover the majority of the cost of drugs and consumers only pay a negligable low co-pay, they may not benefit from teh placebo effect of high-cost drugs simply because they're shielded from knowing the full cost. If consumers knew the full cost of drugs, do you think they would be more effective in managing conditions? What are your thoughts?

source:
http://www.npr.org/templates/story/story.php?storyId=87938032