An Interesting Conversation............
Yesterday, I had a conversation with our long term internist. He made two points. 1) Pharmaceutical companies had abandoned anti-biotics. They are doing no R&D, doing no promotion, and providing no samples. The reasons are that there are now so many generic competitors, and patients only use the drugs for a couple of days, so there is very little profit in these drugs now.
What is happening is that pharmaceutical companies are spending all of their resources developing and marketing cancer drugs. Individual treatments can cost the patient upwards of $1,000 and the treatment has to be repeated over and again. And that is where the profits are to be found. And the costs for the rest of us are staggering!!
So here is the kicker. There is nothing in ObamaCare to change this behavior. In fact, the bill encourages drug companies to search for profits anywhere they can find them. Hence, ObamaCare does nothing to reduce the cost of medical expenses, and quite the contrary, encourages them to increase without controls.
While that is great for the drug companies, for the rest of us, Not So Much!!