Here is a article from CBS MONEY WATCH .. since the PBM’s began over four decades ago… it would seem that FTC and Justice has been enamored with the PBM’s.. even to the point of almost promoting PBM’s and mail order.
More and more entities that are partially or fully funded by tax dollars for prescriptions (Medicare Part D & Medicaid)… if this merger is allowed to proceed.. be self-serving for the government… or short-sighted by the government… the lost of all the local tax revenue and jobs in order to believe that they are going to save money with these PBM’s
These two entities report a net pre-tax of ~ 2.5 BILLION in their last fiscal year… and over the last 8-10 yrs.. their net profits have went up 4-6 FOLD.. These public for-profit entities are exempt from Sherman Antitrust and have little/no oversight by any governmental entity.
It was reported that in Texas, the Medicaid was turned over to PBM’s and the reimbursement to pharmacy was slashed the first day.. as well as it was reported that the parameters for the network was that a patient must have access to a pharmacy that is no farther than 15 miles unless it is 24 hrs and then the mandatory distance is 70 miles… This is for the POOR IN TEXAS… Is this a back-door approach to encourage mail order … because the patients can’t afford the gas to travel that far or just lack adequate or available transportation?
Texas is a very large state… with areas that have temperature extremes… how many prescription meds will be sitting in mail trucks and mail boxes at 20-30 +/- degrees…..that are otherwise required to be stored at room temperature +/-? Could this effect patient’s health… should anyone be concerned?
FTC stopped the T-Mobile and AT&T merger as well as the Omnicare-Pharmerica merger… because of potential market dominance… and this pair will initially control a reported 40% of the Rx market place.
If this merger is allowed to happen… how many people will die because of being unable to get the needed Rxs in a timely manner… how many more hospitalizations. When we will hold these types of entities for practicing medicine without a license and putting profits over quality of life issues?
Filed under: General dumb-ass problems
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