Merck Settles With Govt Over Rebates
I love how they spin this.
The crux of the story is the company negotiated secret contracts with hospitals giving deep discounts which of course were not passed onto Medicaid. Also, they paid off doctors to prescribe their products versus other products.
And they got caught. So they get a slap on the hand and have to pay approx 700 Million dollars in fines. Big Deal!
This is translates into hundreds of millions of dollars over over charges and is just the tip of the iceberg. This is the type of stuff that is driving up the cost of health care and you can find it in traditional medical practices as well as govt programs.
Also, the probabability is great that this is not the only company with these type of policies. It is probably the only company that got caught…for now.
I know some of you will say this is proof of your position one way or the other regarding various health programs that candidates propose.
But my point here is….This is the type of challenge we have to address to solve the rising cost of health care. Because I believe it is the rising cost of health care that is proving to be the true challenge of the future.
So I would like to know what some of you think is contributing to the rising cost of health care in the US.