Quick Fix For High Drug Price In America

QUICK EXPLANATION AND SOLUTION FOR HIGH DRUG PRICES.

What good is it to have the buying power that Medicare has if we don't use it?  See facts below from WSJ article.

"Medicare, the largest single U.S. payer for prescription drugs, is by law unable to negotiate pricing . . . The arrangement means Medicare is essentially forfeiting its buying power, leaving bargaining to doctors’ offices that have little negotiating heft, said Sean Sullivan, dean of the School of Pharmacy at the University of Washington.

Asked to comment on the higher prices Medicare pays compared with foreign countries, the Centers for Medicare & Medicaid Services said: “The payment rate for Medicare Part B drugs is specified in statute.”

Furthermore, Americans fund much of the global drug industry’s earnings, and its efforts to find new medicines. “The U.S. is responsible for the majority of profits for most large pharmaceutical companies,” said Richard Evans, a health-care analyst at SSR LLC and a former pricing official at drug maker Roche Holding AG .

Laws in USA which unreasonably protect drug company patents and make it ridiculously expensive, difficult, and lengthy to get new treatments approved, benefit large Pharma. Meanwhile, other countries benefit from Americas amazing drug research while Americans foot the bill.

Why are Americans getting such a bad deal? Because Congress is bought and paid for by Pharma!!!  Republicans are as or more guilty as Democrats on this for selling influence.  As Trump said, essentially, Americans are being screwed by drug lobbyists.

Their biggest recipient? Clinton. She collected $336,416 in donations, over a third of the total contributions during the 2016 presidential campaign. The next biggest recipient was Republican candidate Jeb Bush, who collected less than half the amount of Clinton. Trump received the least in donations: $1,010, enough to buy one Daraprim pill.

Obamacare was virtually written and paid for by Pharma lobbyist. The health care law is expected to boost Big Pharma's profits, possibly from $10 billion to $35 billion over the next decade.

Ultimately, Obama turned on Pharma in latter years. Just as he did with insurers. He played them. That's why insurers are dropping like flies. He was smart and wiley and Pharma can now see the writing on the wall if we get to a single payer system.  I am all for negotiating the best deal, but I oppose socialized medicine.  With Medicare we have the power of a monopoly but we dint use it to America's advantage, as described above, again because the Pharma Lobby owns congress.

Wait till Trump starts Tweeting and calling out Pharma, like he has the auto industry. Trump hates it when Americans are getting screwed while other countries benefit from our stupid politicians on the take.

Here is a simple idea that would not have a chance before Trump, but may going forward. Pass a law that drug companies can not charge more for a drug in the USA than they sell it for in other countries.

Couple this with reducing regulations and streamlining the process for approving new treatments to lower cost and speed up bringing new medicines and devices to market.

Bam!!  Watch how fast drug prices go down in the USA, AND how they go up internationally. Other countries have to start paying their fair share!!

Here is a link to a previous post - How Not To Solve Healthcare