I heard something that really disturbed me on ’60 Minutes’ yesterday.
Some doctors were talking about the high costs of cancer drugs.
They claimed that the manufacturers essentially set the price that Medicare and Medicaid will pay for their drugs. Of course the patient ends up paying 20%.
They also noted that we do not negotiate this charge and we in the U.S. typically pay up to 80% more than other countries who do negotiate.
The implication was that our legislatures are in the pocket of Big Pharma. Unfortunately it would be just another example of crony capitalism and therefore very likely to be true.
The comment was made that Obama has promoted negotiating the cost, but it was unlikely to be taken up by Congress. Crony Capitalism? Very likely. And just how strongly is Obama promoting this change? I have never heard him speak to the problem, have you?
I encourage you to petition your congress man or woman to promote negotiating the cost of drugs. 20% of a $100,000 bill is a awfully lot and we the taxpayer are on the hook for the other 80%. No wonder Medicare is going broke!