Over the years I have worked on projects defending the role of drug middlemen, known as pharmacy benefit managers (PBMs). PBMs are essentially volume purchasers of drugs who manage drug benefits for insurers, Medicare, Medicaid, and health plans. PBMs negotiate deals with drug makers, wholesalers, and pharmacies. At least in theory, health plans benefit from the PBM’s buying power, getting most of the drug rebates and negotiated discounts PBMs arranged with drug makers.
Category: Health Economics & Costs
Friday Links
- RFK Jr may be right about the dangers of antidepressants. (NYT)
- Food Stamp recipients: A mere 16% of able-bodied adults work 20 hours a week or more.
- “In sickness and in health” may not come true if the wife gets sick.
- Nearly 40% of the total population of New York and California is now on Medicaid.
- 90% of the top 30 brand-name drugs sold in the US are manufactured abroad.
- Middle incomes have not been stagnant: US median disposable income (including transfers) is the highest in the world.
Thursday Links
- As enrollment declines (because of unwinding form Covid levels) the fall in prescriptions paid for by Medicaid or CHIP were mostly offset by an increase in commercial-paid prescriptions.
- Welfare spending has no effect on the poverty rate.
- Essay: bad government policies are the reason for almost all of our health care system failures. (Statnews)
- Social Security crisis in pictures.
- Krugman doubles down on an old and controversial claim: sweatshops in less developed countries are better than the alternative.
What is Your Doctor Not Telling You? It Depends!
Doctors sometimes get caught up in their own knowledge and often do not realize what patients do not know. Doctors may be short on time to discuss treatment side effects. They may believe they know best and do not want to muddy the water with unnecessary discussions. Indeed, one attorney I spoke with told me about the time his wife was discussing a surgery for his son to correct a sports injury. The surgeon became exasperated and said he would withdraw from the surgery if she did not stop asking questions.