3 ms·
340B legislation is one of the clearest examples of corruption. I cannot believe anyone can be so stupid, much less two branches of government, to pass somethi
by lotsofpulp 2y ago
340B legislation is one of the clearest examples of corruption. I cannot believe anyone can be so stupid, much less two branches of government, to pass something that does nothing but allow for corruption.
Goal: provide poorer people with more access to healthcare and medicine
Step 1: require medicine manufacturers to sell medicines at low cost to medicine retailers if they want the government to buy the medicines via Medicare/Medicaid
Step 2: there is no step 2. There is no requirement for medicine retailers to sell the medicine to end users at low cost.
Result: Medicine retailers arbitrage this by obtaining medicine for cheap and selling it to high prices to insurance, paid for by premium payers. Meaning people with health insurance paying extra so that medicine retailers can earn money…to do nothing.
- refurb 2y agoGreat summary. It’s the perfect example of good intentions and regulations that actually make the system worse, not better. It’s driven a bunch of community oncologists out of business because they can’t compete with 340B hospitals who can get drug much, much cheaper. But do patients see any of the savings? No.