The Inflation Reduction Act: An Analysis of U.S Pharmaceutical and Healthcare Regulations
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2024-07-12
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en
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This study explores the impact of the Inflation Reduction Act (IRA) on the U.S. pharmaceutical regulatory framework, with a particular focus on the policy shift this represents in regards to government intervention in drug pricing policy. The rising costs of insulin and other prescription drugs have created substantial barriers for both uninsured and underinsured individuals, leading unfortunate health outcomes. The IRA, introduced by the Biden-Harris Administration, aims to address these issues by reducing costs for Medicare recipients. However, the pharmaceutical industry has expressed concerns over potential revenue losses and impacts on R&D, resulting in litigations against the IRA's drug pricing policies. This thesis aims to contribute to academic discussions on policy shifts and inform policy debates on healthcare reform in the United States by evaluating how legislative changes like the IRA can redefine the balance between industry interests and public health outcomes. A qualitative single case study design was used to determine whether the IRA represented a shift in the U.S pharmaceutical regulatory framework. This was done using institutional theory to analyze the legislative changes and historical factors to understand the IRA’s role as a potential catalyst for change. Regulatory capture theory was used to assess the period prior to the introduction of the IRA, and provide insights into how industry influence shaped the pre-IRA regulatory environment. The thesis concluded that the effect of the IRA was a policy shift towards more government intervention in pharmaceutical drug pricing, representing an achievement in addressing issues of drug affordability and access
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Faculteit der Managementwetenschappen