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2018-11-01 08:29 by Karl Denninger
in Health Reform , 155 references Ignore this thread
Suuuuureeee He Will
[Comments enabled]

Uh huh...

President Trump is taking aim at “foreign free riding” by other nations and wants Americans to have the same benefits that produce lower drug prices, according to Department of Health and Human Services Secretary Alex Azar.

The plan, unveiled by Trump in a speech last Thursday at the Department of Health and Human Services, calls for Medicare to negotiate better deals with pharmaceutical companies.

“Right now pharma is giving these discounts to other countries,” said HHS Secretary Alex Azar to FOX Business’ Stuart Varney on Tuesday. “And you know what we are doing? We are currently paying the list price plus a 6 percent markup in our program.”

And how are they going to be doing that?

You see Medicare is prohibited from negotiating said prices by law, which was passed when George Bush was President.  Specifically Medicare Part "D" was passed with that provision.

The larger issue is that drugs are only a small part of the whole.  The rest is found in the mess generally found in hospitals and other clinical settings where it is literally impossible to get a price in advance and price discrimination is not only rampant it's outrageously so, with many people paying several times, often as much as five to ten times, as much for the same procedure, device or action as someone else.

If you remember Trump promised during the campaign to stop that by mandating price transparency.  That he can do by enforcing anti-trust law and going after the providers.

Why haven't the drug company stocks all collapsed in price?  Because nobody believes this threat is real; if it was it wouldn't be done this way since that will require an act of Congress.

Enforcing existing anti-trust law requires no act other than by the attorney general and in fact Congress can't stop it without passing a law, which Trump could veto.

But he hasn't -- and won't.

Trump is lying.

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User Info Suuuuureeee He Will in forum [Market-Ticker]
Vernonb
Posts: 2260
Incept: 2009-06-03

East of Sheol
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Yep.... and idiots worry about 6% when the scam runs hundreds of percents. Does Chump think these are honorable people?

Just more hot air from the bloviator in chief for the masses.

How not to fix a problem.

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"Mass intelligence does not mean intelligent masses."
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