Happy #MonopolyMonday!
This week, we’re talking about concentration in the health care industry.
From hospitals to insurers, pharmaceutical manufacturers, retail pharmacies, PBMs and everything in between…nearly every part of the health care industry is concentrated. 💊🏥🩺
This week, we’re talking about concentration in the health care industry.
From hospitals to insurers, pharmaceutical manufacturers, retail pharmacies, PBMs and everything in between…nearly every part of the health care industry is concentrated. 💊🏥🩺
2/ Among other things, the 2010 ACA made health care integration & consolidation an explicit goal.
But as a framer of the ACA realized in 2016, “having every provider in health care ‘owned’ by a single org is more likely to be a barrier to better care.”
wsj.com/articles/i-was…
But as a framer of the ACA realized in 2016, “having every provider in health care ‘owned’ by a single org is more likely to be a barrier to better care.”
wsj.com/articles/i-was…
3/ Hospital consolidation has become a crisis.
In fact, a 2017 @politico analysis estimated that 2/3s of all U.S. hospitals were part of a chain. 🏥
politico.com/agenda/story/2…
In fact, a 2017 @politico analysis estimated that 2/3s of all U.S. hospitals were part of a chain. 🏥
politico.com/agenda/story/2…
4/ Consolidation is also taking over pharmacies.
As @FreedZach & @stacyfmitchell detailed for @ProMarket_org, the @FTC permitted the consolidation of pharmacy benefit managers. Now, 3 dominate the market, hurting local communities & indep. pharmacies.
promarket.org/2021/02/19/ftc…
As @FreedZach & @stacyfmitchell detailed for @ProMarket_org, the @FTC permitted the consolidation of pharmacy benefit managers. Now, 3 dominate the market, hurting local communities & indep. pharmacies.
promarket.org/2021/02/19/ftc…
5/ Meanwhile, by 2017, just FOUR purchasing organization controlled 90% of *all* U.S. generic drug purchases from manufacturers.
drugchannels.net/2018/02/meet-p…
drugchannels.net/2018/02/meet-p…
6/ The impact?
Retail pharmacy prices on a basket of generic drugs are up to NINE TIMES HIGHER than the same basket of drugs at an independent pharmacy.
consumerreports.org/drug-prices/sh…
Retail pharmacy prices on a basket of generic drugs are up to NINE TIMES HIGHER than the same basket of drugs at an independent pharmacy.
consumerreports.org/drug-prices/sh…
7/ And speaking of high drug prices, let's take a look at insulin.
From 2010 to 2015, @sanofi, @novonordisk & @lilly_pad — which are essentially the only producers of insulin in the U.S. — raised their prices by 168%, 169%, and 325%, respectively.
nytimes.com/2016/02/21/opi…
From 2010 to 2015, @sanofi, @novonordisk & @lilly_pad — which are essentially the only producers of insulin in the U.S. — raised their prices by 168%, 169%, and 325%, respectively.
nytimes.com/2016/02/21/opi…
8/ So last week, we teamed up w/ the #InvestigateInsulinNow campaign to expose the detrimental harms of the insulin cartel.
Check out our discussion w/ @RepKatiePorter, @Kidfears99, @alaw202, @mo87mo87, @realtahiramin, @OliviaWebbC & other advocates👇
economicliberties.us/event/investig…
Check out our discussion w/ @RepKatiePorter, @Kidfears99, @alaw202, @mo87mo87, @realtahiramin, @OliviaWebbC & other advocates👇
economicliberties.us/event/investig…
9/ Health care spending is skyrocketing.
In fact, because of consolidation, it’s rising faster than U.S. GDP, while the rate of growth in health care worker wages remains far below that of CEO compensation.
healthaffairs.org/doi/10.1377/hl…
In fact, because of consolidation, it’s rising faster than U.S. GDP, while the rate of growth in health care worker wages remains far below that of CEO compensation.
healthaffairs.org/doi/10.1377/hl…
10/ From 2005-2015, CEO compensation at major, nonprofit hospitals rose by 93%, while the average health care worker only saw an 8% increase. 😤
journals.lww.com/clinorthop/Ful…
journals.lww.com/clinorthop/Ful…
11/ To reverse the extreme consolidation in the industry, we recommend:
✅breaking up health care monopolies
✅prohibiting PE ownership of hospitals & medical practices
✅fostering competition of generic medications
✅allowing Medicare to negotiate for lower drug prices
& more!
✅breaking up health care monopolies
✅prohibiting PE ownership of hospitals & medical practices
✅fostering competition of generic medications
✅allowing Medicare to negotiate for lower drug prices
& more!
12/12 To learn more about the dangerous & often deadly outcomes of consolidation in the health care industry, read our one-pager 👇
economicliberties.us/our-work/ctl-h…
economicliberties.us/our-work/ctl-h…
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