patrick.net

They get the work force to pay BIG upfront.
They convinced Washington that we all need to pay the equivalent of a 60 year old with chronic health issues, and on a daily cocktail of medication, up front. Especially the young never been sick.

Just to be clear, it's actually cheaper to be sick, than the monthly premiums they are strong arming from us all.

Tenouncetrout says

They get the work force to pay BIG upfront.
They convinced Washington that we all need to pay the equivalent of a 60 year old with chronic health issues, and on a daily cocktail of medication, up front. Especially the young never been sick.

Just curious - what does a 60 year old with chronic health issues on a daily coctail of medication pay for healthcare?

I know the pharmaceutical companies get government subsidies in many cases in addition to their "patent" profits. I should research the specific ones. If anyone has some specifics here...

Has anyone ever read this book, Selling Sickness?
http://www.naturalpedia.com/book_Selling_Sickness.html

Its not just them, its the entire system.

Hospital networks are ran for profit (they make a killing)
Insurance is ran for profit (they make a killing often)
Pharmaceutical companies are ran for profit (they make a killing)

AMA through regulation makes sure there aren't enough doctors, thats how they stifle the competition. Thats the only one I know.

ChrisLA says

AMA through regulation makes sure there aren’t enough doctors, thats how they stifle the competition. Thats the only one I know.

The AMA has nothing to do with the number of doctors. Doctors are limited by the amount of state money available to pay for training.

@ChrisLA

Thanks for the expansion.

For those who think the system is free market, please read the following (thanks Patrick):

http://www.examiner.net/news/law/x1914248650/Health-insurance-companies-exempt-from-anti-trust-laws?source=patrick.net#right_block

Many know this already, but many more don't!

The health insurance industry has not been free for a long time. The CEO of Kaiser is at minimum a socialist. Everything is HMO. Is this really the free market? Regulated.

This may be another one:

http://patrick.net/?p=641414#comment-723964

"One of the very first things that happens when the US proposes a free trade agreement with any country is the US trade representatives try very, very hard to dismantle any price controls on drugs that exist. The US government is actually working as an agent for big pharma." (Thanks Bob2356.)

http://theautomaticearth.blogspot.com/2011/04/april-4-2011-credit-bubbles-always-end.html

This article (long) mentions how pharmaceutical companies get legislation passed through lobbying which prevents the government from bidding competitively on drug prices.

Some of the most brilliant minds on earth are inventing ways to treat diseases or save lives. The new drugs that they are creating are simply amazing. These companies pay billions of dollars on development and approval of drugs, the government requires this expensive gamble. The vast majority of great drugs are developed where there is a profit motive and seldom come from places like England, Sweden, Canada or China. Of course the company should protect its intellectual property and hard work developing a drug, the alternative is theft of someone's work or ideas.

@thundrlips

Thanks for the comment. I wish more Americans would read this post... if even a tenth as many as watch Fox News!

American in Japan says

@thundrlips
Thanks for the comment. I wish more Americans would read this post… if even a tenth as many as watch Fox News!

Yeah, I agree. Unfortunately it seems like most Americans need to have a relatively significant experience with our system in order to understand how bad it is.

kimboslice says

Some of the most brilliant minds on earth are inventing ways to treat diseases or save lives. The new drugs that they are creating are simply amazing. These companies pay billions of dollars on development and approval of drugs, the government requires this expensive gamble.

If their development costs are such a burden, how is it that they have such high profit margins.

While I do appreciate the development of solutions pharma provides their motivation is first and foremost financial. Curing diseases, saving lives and improving the quality of life all are all much farther down the priority list.

One of my favorite examples of this is the implantable insulin pump for diabetics. A technology that should be widely available today. It would improve the quality of life for millions of people. Here is an article about it:
http://www.diabeteshealth.com/read/2011/04/17/7124/a-miracle-technology-for-type-1s-can-it-be-saved-/

And a site dedicated to trying to save the internal pump:
http://www.theiipump.com/

The question I think Americans need to be asking is, "Do we want a medical establishment who's primary motivator is making as much money as possible?"

kimboslice says

Some of the most brilliant minds on earth are inventing ways to treat diseases or save lives. The new drugs that they are creating are simply amazing. These companies pay billions of dollars on development and approval of drugs, the government requires this expensive gamble. The vast majority of great drugs are developed where there is a profit motive and seldom come from places like England, Sweden, Canada or China. Of course the company should protect its intellectual property and hard work developing a drug, the alternative is theft of someone’s work or ideas.

Maybe you should look a little more closely into what actually goes on in the drug patent business. A lot of "research" and "hard work" is actually for making minor tweaks to existing drugs to get a new patent for what is basically the same drug to stave off generics and maintain high prices/profits. There is nothing altruistic in the pharma industry. Whatever will bring the highest profits is what gets done.

bob2356 says

Maybe you should look a little more closely into what actually goes on in the drug patent business. A lot of “research” and “hard work” is actually for making minor tweaks to existing drugs to get a new patent for what is basically the same drug to stave off generics and maintain high prices/profits. There is nothing altruistic in the pharma industry. Whatever will bring the highest profits is what gets done.

Also, it is common for the research to be funded, not the by company, but by the government.

Yes. Many are unaware of the tax dollars given to these companies for research grants.