[TSO/ISPF]

Originally Posted by Petersweeney

Half the money they take in on sales goes goes straight back to MSM….. talk about a vicious cycle….

This link is to an article about part D. VERY interesting reading. According to the article, big pharma spends 19 times more on advertising than R&D. Why are they allowed to advertise drugs to consumers
who may not understand all the implications. I really wonder about that when I see adds for drugs
like Humira or Eliquis.

Access Denied

[Ski Bum]

No one can "lower drug prices". But it is possible to change who pays the most and the least. I have an idea, let's require drug companies to sell to US consumers at their lowest world wide price. So if a drug is $1 a dose in Canada, that's what they have to sell it for here. Of course, someone else has already thought of that and tried...

[skyking]

The pharmaceutical industry's argument against allowing negotiation is that lower prices will lead to less research and development and therefore fewer breakthrough, life saving drugs.

The truth is that we Americans are paying for the full cost of R&D and most other countries are only paying the marginal costs of actually producing the drug.

The best and simplest answer is for the US to allow re importation of medications creating a "world price" and spreading R&D costs to all customers.

[skyking]

????

OrangeBlossomBaby,
Insurance companies are not restricting importation of drugs, the FDA does not allow it.

[TSO/ISPF]

Originally Posted by CMcCord

But it looks like America was too concerned about words rather than actions and promises kept.
The willingness to stand up to the pressure was what caused so much hatred the last time around.
Like the United States...it wasn't perfect but it was a damn site better than most and certainly head and shoulders above what we now have.

I started this thread to get peoples opinions on Medicare being allowed to negotiate drug prices and the current legislation. I don't care who is responsible for "why not".. I just want to watch carefully if it continues with this current bill in congress and WHO and WHY. Maybe one of those representatives will not continue to be because they vote against it.

[OhioBuckeye]

Originally Posted by retiredguy123

I find it amusing that the Government is the reason on for high prices, and now people want the Government to reduce the prices.

Guess we’ll just have to suck it up, 🤪!

[skyking]

Originally Posted by OrangeBlossomBaby

Medicare isn't a singular thing. It's a collection of insurance companies that have agreed to specific benefits for their older insured members with specific guidelines and assorted options and fees. It is a collaboration between government and insurance companies.

The Rx industry is no different from any other profit-making industry when it comes to pricing. They set the MSRP for their product. They can negotiate lower prices, they can run specials and deals, they can offer coupons and discounts, but their MSRP is their MSRP, take it or leave it.

Just like the MSRP for your car is what it is, it's set by the manufacturer. The dealer you buy your car from might have incentives to lower their asking price, but if they don't, then the price on the sticker is the price dictated by the manufacturer.

Same as the can of beans on the shelf. If the store has a BOGO price, it's because the store has worked out a deal with Bush Beans for that week. The store isn't just being generous, or got too much and trying to get rid of overstock.

Rx is no different. They set their MSRP, and if you have insurance, you might get a discounted price. Or you can try GoodRx or any of the other discount programs. Or - you can write to the pharmaceutical company and ask for a discount. You can usually get coupons if you ask them.

This is just how it is when you live in a country that promotes capitalism above all else. It has its benefits - to those who can afford to enjoy those benefits. For everyone else, not so much.

This is incorrect. Medicare is a government program. They determine the benefits and rates, both for the beneficiary and provider reimbursement rates. Instead of creating a government claims processing system they contract in each state for a third party to process claims. This is often the Blue Cross plan in that state.

[MandoMan]

Originally Posted by heims01

Seeing a new add sponsored by PhRMA stating that allowing Medicare to negotiate drug prices will reduce availability of drugs. I think that might be a fib but wonder what others think. I know drug prices are very high for many Tier 4 and 5 drugs when on Medicare.

S.99 - Medicare Drug Price Negotiation Act
116th Congress (2019-2020)

Big Pharma desperately wants YOU, through your health insurance, to keep being their Cash Cows. (Bear in mind that a huge percentage of us have mutual funds that are making us money by investing in drug companies, so if the government cuts what is paid, that will hurt us some because there will be less profit, but do you want to make you retirement income by gouging other Americans, as well as yourself?)

I remember a few years ago when the price of generic Doxycycline went up from $20 a month to $260. In a week. Is that because it got more expensive to produce? No, it’s because there had been several generic drug companies making it, but when some stopped, the sole remaining maker took advantage of us by raising the prices.

If the drugs are only 1/3 the price in Canada, that’s because that is the nationwide price negotiated by the Canadian government. It’s not being sold for less than the cost of making it or less than a healthy profit margin. If our legislators on both sides of the aisle refuse to do the same for us because they have been purchased by Big Pharma, they are giving a giant middle finger to all voters. They are saying, “We don’t care if you are paying $1300 a month for this medication that costs $100 to make. You don’t really matter to us. Our job is to keep drug companies happy.”

As for hospitals and pharmacies, remember that they mark up the price of drugs they sell. A 20% markup on a drug costing us $100 a month makes them $20 profit, while if it costs $10 a month, they make only $2. So of course they want the cost high, whether or not they admit it. Their profits are more important to them than your pockets.

Remember, this proposal came from President Trump a couple years ago, and President Biden is simply carrying on the good fight that couldn’t be won in a year. We should ALL get on board and pressure Congress to put WE THE PEOPLE above the drug companies.

Like most pharmacies, Medicare has a “formulary” of drugs approved because they work well and don’t cost much. They urge that these be prescribed and prefer that doctors not prescribe drugs that cost much more but don’t work any better. For example, my blood pressure is normal because I take two generic drugs that together cost about $5 a month. If I insisted on taking the latest blood pressure med advertised on TV that costs $500 a month (maybe with a big co-payment I have to pay), maybe my doctor will prescribe it after telling me it’s a waste of money for me, but my blood pressure will still be normal. So yes, maybe Medicare will point you toward cheaper drugs that work just as well. That saves you money and saves all of us money as we pay for the cost of health insurance. So don’t be swayed by the arguments of drug companies. They only care for your money, not for you.

[jdulej]

Originally Posted by OhioBuckeye

Guess we’ll just have to suck it up, 🤪!

Makes perfect sense to me. Prior admins (all of them) rolled over to pressure from industry vs pressure from the general population - big talk, no action, then "gee, I tried" is the usual pattern. We (the people) need to keep a closer eye on this attempt and make sure the politicians know that big pharma is not their client, we are. I am modestly hopeful this time, but not holding my breath.

[rjm1cc]

Years ago the owner of a pharmacy that was delivering oxygen to my father said that he would sell it at a lower price but Medicare set the price (much higher) he had to sell it for.

My assumption is higher prices in the US do help fund research but why should a citizen in the US have to pay more than a citizen in another country? And that foreign country citizen could have better financial resources the US citizen.

I did have contracts with the US government and they required that I sold to them at the lowest price I offered to all customers.

[Proveone]

I won't trust anything Big Pharma says. They are only interested in ripping us off for medicines that we need to stay safe and exist.

Originally Posted by heims01

Seeing

a new add sponsored by PhRMA stating that allowing Medicare to negotiate drug prices will reduce availability of drugs. I think that might be a fib but wonder what others think. I know drug prices are very high for many Tier 4 and 5 drugs when on Medicare.

S.99 - Medicare Drug Price Negotiation Act
116th Congress (2019-2020)

[Albany]

Originally Posted by heims01

Seeing a new add sponsored by PhRMA stating that allowing Medicare to negotiate drug prices will reduce availability of drugs. I think that might be a fib but wonder what others think. I know drug prices are very high for many Tier 4 and 5 drugs when on Medicare.

S.99 - Medicare Drug Price Negotiation Act
116th Congress (2019-2020)

Drug prices are lower in other countries, Canada comes to mind, because prices are negotiated. Our Congress, all of them, forbid Medicare from negotiating drug prices because Big Pharma lobbied them relentlessly to get what they wanted, no negotiation. It is a travesty and should immediately be changed. Medicare is an enormous user of prescription drugs and would be a formidable foe in any negotiation--that is if they were ALLOWED to negotiate.

[Fuzzy]

😂😂😂😂😂

[LateBoomer]

VA and DoD have the ability, and do, negotiate bulk drug prices.

No idea why Medicare does not have this authority, but they should

[retiredguy123]

Originally Posted by LateBoomer

VA and DoD have the ability, and do, negotiate bulk drug prices.

No idea why Medicare does not have this authority, but they should

See Post No. 21 and No. 45