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7 tweets,
2 min read
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1. Drug Price Overhaul
Once again, Trump admin is doing God's work to help consumers, while adhering to, in fact promoting, free market solutions and regulatory reform that others only talk about.
Once again, Trump admin is doing God's work to help consumers, while adhering to, in fact promoting, free market solutions and regulatory reform that others only talk about.
2. Trump admin just proposed new rules which strip away many of the rebate deals between pharmaceutical companies and Pharmacy Benefit Managers (PBMs), thereby pushing discounts to consumers.
3. The details are technocratic, but just know that 'safe harbor' provisions in the law were allowing PBMs to collude with Pharma to rip off consumers essentially by making drug prices opaque and promoting use of more expensive drugs even when cheaper alternatives are available.
4. Trump admin just proposed changes which will eliminate incentives for the kind of corporate malfeasance (blessed by politicians) which has contributed to as much as 30% of drug price increases over the years. That's tens of billions of dollars swindled from consumers.
5. Only an admin that is not on the take from the PBM lobbyists can do something like this. PBMs are the huge middleman companies between Pharma and consumers, companies like ExpressScripts which receive gobs of money from Pharma to push expensive drugs ahread of cheaper ones.
6. Kickbacks to PBMs also increase consumer copays which are based on the list price, not the negotiated lower price between Pharma and PBMs behind the scenes. These are wretched practices which must be ended, and Trump admin has proposed just that.
7. Since this is unabashedly good (no one can come up with an excuse to bash this, even if they tried hard), so it is unlikely MSM will cover it much or straight. Hence I thought I should capture it here in our friendly circle before the day gets away from us.
The End.
The End.
