'The pharmaceutical industry, bizarrely, told the American people this week that allowing Medicare to negotiate drug prices is tantamount to socialism, rather than an example of a healthy, competitive marketplace.' Column by Davidlaz:
That’s what Democratic lawmakers are trying to address withthat would add dental and vision coverage to Medicare, as well as finally allow the program to negotiate prices with drug companies — a common-sense move long opposed by Republicans.
As Disney raises the price of its Hulu streaming service, analysts say consumers are growing pickier about which services they’ll subscribe to. The industry’s lobbying arm, Pharmaceutical Research and Manufacturers of America, says U.S. patients would have less access to drugs under Medicare pricing, and innovation would suffer.
Lilly’s Ricks received almost $24 million in total compensation for 2020. Merck’s Frazier received $22 million.This is what happens when drug companies are allowed to charge as much as they want for life-saving medications, and when the single largest purchaser of pharmaceuticals — Medicare — has to pay whatever the industry demands.UnitedHealthcare wants to deny coverage for emergency care it deems unnecessary. It’s also placing new limits on out-of-network treatment.
Scott Barkowski, a health economist at Clemson University, said it’s easiest to understand the stakes if you imagine the drug market as a really big pie.
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