Medical Industrial Complex

by Grover

I just watched this 60 minutes segment www.cbsnews.com/news/the-problem-with-prescription-drug-prices/ that started with a problem in Rockford, Illinois. Rockford self insures medical expenses for their 1,000 employees and dependents. Because of drug prices (astronomical) increase on one drug in particular (Acthar,) it caused the city to severely downsize other key functions to pay these costs. (That one drug was used on only 2 dependent babies.)

It is presented in typical 60 Minutes fashion, expertly guiding the viewer toward a specific result. This statement pretty much sums it up for me. Of course, I’m on the outside looking in. What does it look like from the inside?

Dr. Peter Bach: The underlying problem we have with prescription drugs in this country is that every single actor has the potential to make money when drug prices go up. Remember that for drugs that doctors give to their patients, they make more money when they give expensive drugs than less expensive drugs. It’s true of hospitals, too. It’s true of pharmacies as well. And so this ever-expanding pie is serving everyone.

Please note that the video is a bit wonky. They get supported by advertising and will interrupt the 14 minute video for “important messages.” Ironically, I had a medication for rheumatoid arthritis presented to me before I shut off the video and just read the transcript below the video.

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