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The original was posted on /r/worldnews by /u/Hot_Climate8496 on 2024-06-22 02:59:32+00:00.
NY Times uncovers the real reason prescriptions are so expensive.
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://www.nytimes.com/2024/06/21/business/prescription-drug-costs-pbm.html
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
But there is another collection of powerful forces that often escape attention, because they operate in the bowels of the health care system and cloak themselves in such opacity and complexity that many people don’t even realize they exist.
They steer patients toward pricier drugs, charge steep markups on what would otherwise be inexpensive medicines and extract billions of dollars in hidden fees, a New York Times investigation found.
The largest P.B.M.s recently established subsidiaries that harvest billions of dollars in fees from drug companies, money that flows straight to their bottom line and does nothing to reduce health care costs.
It would turn out to be a seminal moment, one that would rapidly and radically change the American health care system by further shifting power into the hands of giant conglomerates and away from employers and patients.
“P.B.M.s save money off bogus inflated prices that should not exist in the first place,” said Antonio Ciaccia, a consultant hired by Ohio and other states that are investigating the benefit managers.
Caremark uses Medicare’s money to pay pharmacies, including its own, roughly $2,000 per month for a generic blood cancer drug, imatinib, according to a pricing tool on the SilverScript plan’s website.
The original article contains 4,399 words, the summary contains 201 words. Saved 95%. I’m a bot and I’m open source!