According to Medscape, “the amount of medical knowledge is said to double every 73 days, making it much more challenging for physicians to identify innovative findings and newer guidelines for helping patients. Yet not keeping up with the latest information can put doctors at risk.” There is an excellent opportunity for pharma, but they have to shift from “selling” to be a resource.
Category Archive: Article Summary
Since the 1930s, the National Institutes of Health has invested nearly $900 billion in the basic and applied research that formed the pharma and biotech sectors. 75% of so-called new molecular entities with priority ratings (the most innovative drugs) trace their existence to NIH funding, while companies spend more on “me too” drugs.
Nearly a quarter of Americans have medical debt, according to a LendingTree survey fielded earlier in 2022. These medical expenses are often unforeseen, which can be problematic for Americans without established emergency funds, with small credit card limits, or other roadblocks. However, Toledo, Ohio, passed a community-scale medical debt relief initiative in partnership with Lucas County.
Fewer than half of Americans rate the quality of U.S. health care as excellent or good. Only 12% say it is handled extremely or very well. Americans have similar views about health care for older adults. The public gives even lower marks for how prescription drug costs, the quality of care at nursing homes, and mental health care are handled, with just 6% or less saying those health services are done very well in the country. Can it ever be improved?
Big Insurance revenues and profits have increased by 300% and 287%, respectively, since 2012 due to explosive growth in the companies’ pharmacy benefit management (PBM) businesses and the Medicare replacement plans they call Medicare Advantage. The for-profits now control over 80% of the national PBM market and over 70% of the Medicare Advantage market.
The private healthcare industry is enormous, notoriously challenging to navigate, and making a lot of money at the expense of the public. The industry enjoys massive profits, often by undermining public programs and exploiting patents, whose ruthless pursuit of money usually has life-threatening consequences. It maybe time to end for-profit healthcare.
U.S. senators called for Medicare to offer broad coverage of Alzheimer’s treatments approved by the Food and Drug Administration, warning that current restrictions cost patients precious time as their disease progresses. They are asking the FDA to approve a drug based on hope, not science.
President Biden successfully got insulin costs capped at $35 per month for Medicare recipients. But corporate sellout Democrats in the House and Kirsten Sinema in the Senate — along with every Republican — blocked his efforts to extend that to all Americans with diabetes. This is what happens when big pharma has no conscious.