Regular readers of HEALTH CARE un-covered know that I write frequently about the huge amounts of money the health insurance industry’s pharmacy benefit managers (PBMs) extract from the prescription drug supply chain.
I'm glad someone is finally brave enough to expose this. Insurance companies have destroyed independent pharmacies, labs, doctors, therapists, surgical centers. The FTC is all too happy to jump at two primary care doctors discussing what their reimbursement rates are to compare notes and fine them for monopolistic behavior but when United Healthcare buys the entire vertically integrated healthcare system entities in one fell swoop to control ALL aspects of decision making, they turn a blind eye. We need to demand better of them.
And once again, I will say so what? Every year they get hauled to the hill and nothing happens. They need to say, you're done. We're putting you out of business. But as long as they can take money from the very companies they oversee, and as long as Citizen's United is still around, nothing will change. The PBMs will spend years tying up the government in lawsuits, just like the pharma companies are doing fighting the Inflation Reduction Act. And while Nero fiddles, we're left holding the bag.
Quoted copay of $900 for prescription thru Caremark. $64 plus shipping from Canada. Our system is abominable!
It's time to reign in the "wild west" of the insurance world.
I'm glad someone is finally brave enough to expose this. Insurance companies have destroyed independent pharmacies, labs, doctors, therapists, surgical centers. The FTC is all too happy to jump at two primary care doctors discussing what their reimbursement rates are to compare notes and fine them for monopolistic behavior but when United Healthcare buys the entire vertically integrated healthcare system entities in one fell swoop to control ALL aspects of decision making, they turn a blind eye. We need to demand better of them.
And once again, I will say so what? Every year they get hauled to the hill and nothing happens. They need to say, you're done. We're putting you out of business. But as long as they can take money from the very companies they oversee, and as long as Citizen's United is still around, nothing will change. The PBMs will spend years tying up the government in lawsuits, just like the pharma companies are doing fighting the Inflation Reduction Act. And while Nero fiddles, we're left holding the bag.