(Full disclosure) Nearly all the useful math I know was learned during the first eleven years of my education (guess which grade I skipped) from my Father. This was polished by a U.S. Navy lieutenant (jg) teaching at the Prep School in Bainbridge, MD, when I was 20.
(More full disclosure) I know less about law than most (but not all) lawyers.
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With that, let me invite each of you to shed a tear for ‘Big Pharma’. Whoa – just one; one humungous crocodile tear.
Think of all the money, time, and energy they’ve expended over the past three days on the conniption fit about drug list prices, discounts, and rebates.
This is made necessary because they do not dare address the real facts behind obscene list prices for life-saving drugs.
The problem is nearly as old as commerce: Fictitious list prices.
They know exactly why their list prices are going through the roof, but to admit it means they know they are guilty of defrauding the U.S. Government.
If you can get someone to pay list price, then an unrealistically high list price constitutes a fraud, an essential part of a despicable scam.
Enter the U.S. Government, prohibited by law from negotiating drug prices.
On 01/06/2015, S.31 – Medicare Prescription Drug Price Negotiation Act of 2015 was introduced by Sen. Amy Klobuchar (D-MN).
This is a Bill To amend part D of title XVIII of the Social Security Act to require the Secretary of Health and Human Services to negotiate covered part D drug prices on behalf of Medicare beneficiaries
As of August 26, 2016 the Bill has been read twice and referred to the Committee on Finance.
I found no evidence of any further action on the Bill.
Discuss this with your senators and representatives.
If their eyes glaze over, you’ve committed the cardinal sin of Too Many Numbers (to paraphrase Emperor Joseph II’s remarks on Mozart’s work: “Too many notes.”)
If you detect a knowing look, they have been aware of the scam from the beginning.