(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
. . . . . . . . . .
FTC Report Finds UnitedHealth Overcharged for Cancer Drugs By 1000% [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-01-16
From Fortune
OptumRx (UnitedHealth), the group's pharmacy benefit manager, along with its two main peers, Express Scripts and CVS Caremark Rx, have pocketed an extra $7.3 billion over cost thanks to price gouging, according to the findings of a report by the Federal Trade Commission. CVS Caremark Rx blasted the findings for cherry picking certain drugs in an effort to push what it called an 'anti-PBM' narrative… According to the FTC report, UnitedHealth’s OptumRx, along with Cigna’s Express Scripts and CVS Caremark Rx, were able to collectively pocket $7.3 billion in added revenue above cost during the five year period of the study through 2022.
“FTC staff have found that the Big 3 PBMs are charging enormous markups on dozens of lifesaving drugs,” said Hannah Garden-Monheit, Director of the FTC’s Office of Policy Planning. “We also found that this problem is growing at an alarming rate, which means there is an urgent need for policymakers to address it.” www.ftc.gov/...
It’s something we all know about the PBM’s (drug middlemen) and their driving need for profits in the costliest healthcare system in the world that only provides middling outcomes. Who in the Democratic Party is going to address this in force (Bernie)? Or will we have years of investigations and some Senate hearings with outraged healthcare execs who will talk about how they thanklessly toil day and night for the benefit of the patients for nothing more than multimillion dollar compensations.
This is the kind of thing that Dems must deliver. It could take years, but the hard work must start because it will take years of effort. Legislation to address the actual costs of healthcare, not just subsidies for buying insurance from these very people (e.g. the ACA), is how you show you are serious about winning the votes of Americans. It will take courage and years of fighting, and maybe even saying “NO” to insurance lobbyists and healthcare PACs.
[END]
---
[1] Url:
https://www.dailykos.com/stories/2025/1/16/2297204/-FTC-Report-Finds-UnitedHealth-Overcharged-for-Cancer-Drugs-By-1000?pm_campaign=front_page&pm_source=trending&pm_medium=web
Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/
