July 24, 2008Pharma Companies Get Billion Dollar Windfall From Medicare ReformRemember when Congress reformed Medicare two years ago and enacted a deeply compromised law with prescription coverage for older Americans? Well, you just had to know Big Pharma--which lobbied very hard for the bill--was going to make billions off the new law and they have. A Congressional study puts it at $3.7 billion in additional revenues, all of courtesy of us the taxpayers. One of the big winners was J&J which saw an additional $500 million in Risperdal sales, most likely related to selling the antipsychotic for use in treating dementia. I'm sure no off-label marketing was involved! Posted by Philip Dawdy at July 24, 2008 03:11 PM
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They don't need any more money. They could have used it to help American families who cannot pay four dollars a gallon for gas (Yes I know, I shouldn't complain, my friends in Europe have it worse), and food prices running rampant. I would have gladly had another stimulus check. I want to buy a bicycle.
I'm on Medicare. I also used to work in hospitals and agencies and know a boondoggle and a bad bill when I see one. I took one look at the info sent to me by SSA and said "This is an insurance subsidy. It has nothing to do with helping me in any way. It's also so badly written it's a train wreck in the making." All my life the hallmark of scam insurance was a product that was designed to cover a specific ailment, such as "cancer insurance", etc. At the time it came out I wasn't on ANY meds so it was glaringly obvious when I went to check it out that it was a scam. Viable insurance doesn't start out with "What disease do you have?" or "What med are you on now?" It's supposed to cover future unexpected events. I found no way to make a choice even if I wanted to. I found it very disturbing that the assumption was that if I was elderly (which most folks on Medicare are) I would be on meds as a matter of course. Old age is NOT a disease. I didn't sign up and have no intention of doing so unless/until they fix it. It's clear now that they never will because...it's an insurance and Big Pharma subsidy which is working quite well. It's only broken if you think it was ever meant to be helpful to patients. Posted by: Sherry at July 25, 2008 05:25 AMthis is what i am having people ask their drs.ive had several calls and these poor people are looking for another dr.because their dr.wont see them again.drs.do not like these questions.do you treat for the cause of my sickness?what are the dangerous drug-drug interactions when taking so many prescription medicines at one time in combination?for your elderly/fda does not approve using antipsychotic drugs for elderly with dementia.for parents/say no to teen screen/pharmaceudicals companies working togeather in school systems.stop drs.from over prescribing/over medicating. Posted by: mary poole at August 2, 2008 03:49 PMPost a comment
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