Here is interesting explanation on the Pharmacy Rebate process. One aspect was that the ‘benefit’ was that the higher prices led to rebates, and (portion of?) rebates then used to reduce premiums for everyone.
Thanks @MM1 !
I don’t know the fella on the three-person panel but this stood out… He said,
To call the drug pricing system opaque, is to give it a compliment.
He goes on to say,
…because you’ve got so many people touching (the cost) at different points. You’ve got the distributers, PBMs (Pharmacy Benefits Manger) whose role is deeply opaque, very murky, and the rebates are highly proprietary. Then you’ve got insurers touching it, then you’ve got pharmacies touching it, and finally you’ve got (the end got clipped when it was edited at this point.) …
He went on to say,
Everyone takes a cut.
Thanks for posting. I can say that I still don’t understand.
I’m OK with that.
Sorry but pharma owns CNBC, every commercial break “ask your doctor” they will never bite the hand that feeds them so I did not click the link. If anything its PR damage control.
Tired, I will likely click in the future.
Left vs right politics and pharma funded so called advocacy groups are not going to get this mess cleaned up.
But good keep up the effort posting. As a one year newbee to diabetes I never knew the extent of the corruption in the medical system. Most of the public I assume also doesn’t know.
Still makes my head spin and don’t get all the intricacies.