Yang's Healthcare Policy critique
1. Prescription Drug Cost
Drug and premium costs, by far the biggest healthcare concerns to voters as these are the costs they see. (There remain several hidden costs equally offensive.)
Andrew proposes a couple solutions, as follows.
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1. Prescription Drug Cost
Drug and premium costs, by far the biggest healthcare concerns to voters as these are the costs they see. (There remain several hidden costs equally offensive.)
Andrew proposes a couple solutions, as follows.
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1. Medicare negotiation.
Infuriating that our politicians haven't yet done this. Nothing more to say.
2. International reference pricing.
This is when drugs are priced according to what other countries pay. I have mixed feelings, namely b/c it doesn't solve root problems.
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Infuriating that our politicians haven't yet done this. Nothing more to say.
2. International reference pricing.
This is when drugs are priced according to what other countries pay. I have mixed feelings, namely b/c it doesn't solve root problems.
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3. Forced license
Compulsory license (CL) is interesting. During the anthrax scare in 2001 the govt threatened Bayer w/ CL over Cipro pricing, and it worked (Bayer lowered their price). Overall, though, I'd rather just fix the problem through comprehensive patent reform.
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Compulsory license (CL) is interesting. During the anthrax scare in 2001 the govt threatened Bayer w/ CL over Cipro pricing, and it worked (Bayer lowered their price). Overall, though, I'd rather just fix the problem through comprehensive patent reform.
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4. Importation
Only as a last resort. Safety is a MAJOR concern here. I understand the appeal, but it sidesteps the fight we need to bring to Pharma's door. Drugs are DIRT CHEAP to manufacture. Why be held hostage by our own laws? Just change them.
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Only as a last resort. Safety is a MAJOR concern here. I understand the appeal, but it sidesteps the fight we need to bring to Pharma's door. Drugs are DIRT CHEAP to manufacture. Why be held hostage by our own laws? Just change them.
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Why no mention of PBMs??!!
ANY DRUG PRICING POLICY THAT DOES NOT EXTERMINATE THE MALIGNANT PARASITES KNOWN AT PHARMACY BENEFIT MANAGERS (PBMs) WILL FAIL TO REDUCE DRUG COSTS.
PBMs cost us upwards of 1/4 TRILLION dollars a year.
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ANY DRUG PRICING POLICY THAT DOES NOT EXTERMINATE THE MALIGNANT PARASITES KNOWN AT PHARMACY BENEFIT MANAGERS (PBMs) WILL FAIL TO REDUCE DRUG COSTS.
PBMs cost us upwards of 1/4 TRILLION dollars a year.
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Did you know that 70% the current cost of insulin is from PBM markup alone?
Yup. SEVENTY PERCENT.
Why? Because PBMs are legally allowed to give financial kickbacks to everyone in healthcare (except doctors) as it relates to drugs. And GPOs can too (medical supplies).
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Yup. SEVENTY PERCENT.
Why? Because PBMs are legally allowed to give financial kickbacks to everyone in healthcare (except doctors) as it relates to drugs. And GPOs can too (medical supplies).
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I swear, almost every problem involving price gouging, formulary manipulation, & drug shortages can be traced back to PBMs. This is a major oversight in Andrew Yang's proposal.
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I'd also advocate for just giving patients money to buy meds (HSA or similar account), rather than using insurance. Huge price reduction. Right now, I can a prescribe *year's* worth of blood pressure medication for less than $5 wholesale.
We need to think beyond "insurance".
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We need to think beyond "insurance".
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Summary: Needs to address PBMs, patents, production, wholesale purchasing, and PBMs.
@jbradleynelson, @ilike2Mudit, any thoughts?
(I've missed a few other pharmacists here, sorry)
9/9
p.s. PBMs
@jbradleynelson, @ilike2Mudit, any thoughts?
(I've missed a few other pharmacists here, sorry)
9/9
p.s. PBMs
@jbradleynelson @ilike2Mudit 10/10
I should mention that regulating truly novel drug innovation is indeed very difficult, so don't fault drug companies on this one. However, publicly funded research should not result in wholesale patent ownership for Pharma. And patent evergreening needs to go as well.
I should mention that regulating truly novel drug innovation is indeed very difficult, so don't fault drug companies on this one. However, publicly funded research should not result in wholesale patent ownership for Pharma. And patent evergreening needs to go as well.
