- by Medikoe HealthTech Expert
- 0 Shares
- Nov 18 2017
Study sees mental link between drug price, effectiveness
A higher-priced medication with a brand name might work better than a generic version--even if the pills are exactly the same--simply because the patient thinks the expensive prescription should work better, according to a recently published MIT study.
The study--conducted by researchers including graduate student Rebecca Waber and Dan Ariely, the Alfred P. Sloan Professor of Behavioral Economics at MIT--involved 82 volunteers who were given identical placebos that were supposed to be a new pain medication. But the volunteers were told the pills had different costs, with some getting pills supposedly costing 10 cents, and some getting $2.50 pills.
Results of the study, which appeared in the March 5 issue of the Journal of the American Medical Association, showed that those who were told the pill cost more reported feeling less pain from a series of electrical shocks to the wrist. Those told the pill only cost 10 cents reported feeling more pain on average.
The results may impact how generic medication and brand-name medication are marketed, packaged and distributed, and help explain "the popularity of high-cost medical therapies over inexpensive, widely available alternatives," according to the study.
Note We at Medikoe provide you with the best healthcare articles written and endorsed by experts of the healthcare industry to boost you knowledge. However, we strongly recommend that users consult a doctor or concerned service provider for expert diagnosis before acting on this information.