Maybe this is a better way to present the PBM policy stuff.
This is a 3-part audio story on the history of antitrust enforcement in America. If you listen to this, you might keep insulin in the back of your mind and think about why buying insulin is a different from buying bananas (typical consumer goods).
Where in this chart have people claimed to identify unfair market practices within healthcare? Are there any places outside of this chart that have caused concern? And what the heck is a PBM anyway?
Good topic and links. Thank you ! I’ve been looking at this issue for many years. I’ve been active (as long as I could afford the blow-back), and read a lot of articles, books, posts, etc. I’ve spoken and written to health professionals in other countries and, of course, they tell me how messed up (and corrupt) the US healthcare system is compared to others. Words like syndicate and even organized crime come to mind – and yes I realize that’s a bit of a stretch. Most MDs I know really abhor the system as it has only grown worse each year. If one reads anything by author Brill it is quite enlightening. There is just too much money to be made in the US system at the expense of the most vulnerable. OTOH, there are many humans who still don’t understand, many who actually believe all the commercials from healthcare shops, and of course Pharma.
As for the YouTube links and the chattering folks, it’s all way too conservative and does not strike hard at the fact the lives are at stake espicially regarding Insulin (typos) look here, it’s at least a 3T pig-trough in the US, Who/what is going to walk away from all that money.
One warning about any partisan-ism, Boston. In this environment, especially if you are from a DFL state AND you are a diabetic, you will be automatically assumed to be a ‘lefty.’ You have to make policy arguments to BOTH sides in order to pass policy. We have both sides on board right now. But the small business pharmacists are super active and just naturally play off the sympathies of GOP partisans more effectively. They are going to secure us a win this session. The small biz pharmacists are sick of being bullied and put out of business by the large PBMs. Pharmacists are also very smart/crafty. We are on the same side as them. Diabetics walk into session this year singing the song of free markets in healthcare (which IS our fundamental problem, that’s not spin), alongside the pharmacists and we can ride this horse all the way to the bank. partisan-ism is not our friend because we already fought our way through all that in order to win the support of both sides. Partisan-ism is a step backwards and they will try to play that card against us, but Congress is so sick of them that it won’t work.
Here comes the blowback from the Chevron reversal. This could impact us badly with regards to our FTC business.
The kids down at the Minneapolis Federal Reserve who build the models to prevent another 2008 financial crisis are freaking out because they are being sued by the big banks with hundreds of analysts. The Federal Reserve is rolling over.
Maybe this is what I am looking for. People are trying to talk to us and settle down healthcare. This was streamed 10 days ago. They are trying to help us understand.
At the heart of this is: The FTC can move faster and has a higher probability of success by not moving thru Federal court and is less confined to more traditional interpretation of the law. That is because they don’t want antitrust law to be limited to protecting companies from other companies. They want to expand the whole idea of antitrust to something that protects consumers from companies.
I think we are OK. They say that, statistically, we are more likely to win when the FTC commissioner changes, and that we are very likely to win in administrative court. They say that sometimes people have to go to Federal court anyway, but that they are more likely to win having gone thru FTC administrative court first.
I hate it, too. I’ve hated it for years.
