Would you expect to pay more for a drug that 'cured' an ailment rather than 'treated' it? In fact, recent research by mathisaac shows people often feel the opposite, in what he calls the 'cure effect.'
, it fundamentally changes individuals’ expectations about how the treatment will be priced.
in which individuals prefer lower price levels for cures and consider high prices to be especially unfair. This effect persists when companies describe their treatment by directly using the word “cure” or by indirectly using numbers or words that suggest it is a cure . People are especially concerned about communal value when thinking about cures because they seem to be so effective and can presumably have an outsized effect on people’s well-being . As a result, individuals demand lower prices for cures so that they can be more universally accessed.
This communications approach, which aligns with a value-based pricing model, fell flat in the court of public opinion. Patients and consumer watchdog organizations alike rose up against Gilead, deriding the company for engaging in unlawful price gouging. An inquiry was even opened to assess whether Gilead had violated consumer protection laws.
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