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Biden's Drug Price Controls Will Kill
More Patients in the Long Run

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Posted By: zoidberg, 2/10/2023 9:28:44 AM

Federal government interference has massively distorted American health care costs for decades. In his State of the Union address on Tuesday, President Joe Biden touted how the misnamed Inflation Adjustment Act (IRA) will further warp medical care costs by "finally giving Medicare the power to negotiate drug prices." The result is essentially putting price controls on prescription drugs. And price controls will do for prescription drugs what they do for all other products upon which they are imposed: create shortages, queues, black markets, and rationing.

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Reply 1 - Posted by: Gordon Mills 2/10/2023 9:40:26 AM (No. 1399525)
And yet this is okay: Medicare and the Department of Veterans Affairs covered prescription drugs for about 52 million people in 2017. In our sample of 399 brand-name and generic prescription drugs, the VA paid an average of 54% less per unit than Medicare, even after taking into account rebates and discounts. The programs pay for drugs differently. Medicare reimburses the Part D plan sponsors to pay pharmacies, but the VA buys drugs directly from manufacturers. The VA may be able to get lower prices because it can: Negotiate as a single health system with a unified list of covered drugs Use discounts defined by law that Medicare doesn't have… I suspect the FEHB plans get a break also.
1 person likes this.

Reply 2 - Posted by: Mcscow sailor 2/10/2023 9:49:24 AM (No. 1399532)
In modern times, the France pharmaceuticals were the go to place for pharm development. Yep. They led the world. But, it was expence, a France Inc backed away. The crown moved to the US. Today, drugs unimaginable a generation ago extend lives, forestall surgeries, cure the incurables. And what do we do? We sell these drugs on the cheap around the world, even as we make new drugs terribly expensive to bring to market. That’s right, ladies and gents, we heavily subsidize the sale of drugs to 7 billion people. We even subsidize drug sales to Canada. There may be ways to move costs off of our retail drugs…but as all things, there are tradeoffs. Do we really want to raise cost/limit availability of our drugs in other nations (probly would inrease counterfeits and just reduce us drug income)? Do we really want to lower drug prices and reduce funds to,our pharm research? Or…do we want a gov who can’t run a post office, detect a balloon, or balance a budget messing around in an industry so important to out health? I say no
4 people like this.

Reply 3 - Posted by: john56 2/10/2023 9:58:03 AM (No. 1399541)
Gee. When I was in the drug business, the VA and Military bought their drugs off the "Federal Supply Schedule," which was ALWAYS lower than market price. I believe the price had to be a certain percentage BELOW the manufacturer's lowest contract price,after rebates, etc. And still, the VA and Military hospitals had the biggest bureaucracy to get an order approved, even worse than city and county governments. Where a county hospital might have a couple rooms in the basement of the hospital, the VA and military had entire floors or separate buildings for their medical purchasing functions. And, of course, all at federal wages and benefits.
1 person likes this.

Reply 4 - Posted by: marbles 2/10/2023 10:22:55 AM (No. 1399561)
Re the headline, tha'ts the plan.
1 person likes this.

Reply 5 - Posted by: marbles 2/10/2023 10:23:06 AM (No. 1399562)
that's
0 people like this.

Reply 6 - Posted by: snowoutlaw 2/10/2023 10:48:30 AM (No. 1399581)
Trump's plan was that the price charged in US couldn't be any more that the lowest price charged in the world. This would stop the US from subsidizing the drugs for 7 billion people.
2 people like this.

Reply 7 - Posted by: FJB 2/10/2023 11:07:41 AM (No. 1399594)
Do something! Arrest this miserable crook? Or at least beat him senseless?
1 person likes this.

Reply 8 - Posted by: Mcscow sailor 2/10/2023 12:30:19 PM (No. 1399664)
Poster 6. Trumps plan would have worked, short term. Imho, it would have stopped innovation
0 people like this.

Reply 9 - Posted by: DanvilleBill 2/10/2023 3:22:43 PM (No. 1399805)
Whatever we do let's make it unprofitable for pharma companies to research, develop, manufacture and market their products.
1 person likes this.

Reply 10 - Posted by: anniebc 2/11/2023 8:28:34 AM (No. 1400262)
Drug prices are already going up. It seems to take my pharmacy longer and longer to fill a prescription. The costs that insurance pays for drugs is through the roof, and they're charging us more for our policy as a result. It's one reason anyway; they charge us more for many reasons.
0 people like this.

Reply 11 - Posted by: franq 2/11/2023 9:03:59 AM (No. 1400309)
Almost make one want to live in such a way that they don't need the drugs...
0 people like this.

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Biden's Drug Price Controls Will Kill
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Posted by zoidberg 2/10/2023 9:28:44 AM Post Reply
Federal government interference has massively distorted American health care costs for decades. In his State of the Union address on Tuesday, President Joe Biden touted how the misnamed Inflation Adjustment Act (IRA) will further warp medical care costs by "finally giving Medicare the power to negotiate drug prices." The result is essentially putting price controls on prescription drugs. And price controls will do for prescription drugs what they do for all other products upon which they are imposed: create shortages, queues, black markets, and rationing.
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