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Friday, August 16, 2013

So you wonder why medicare is going broke...

Consider this. The current issue of Bloomberg Markets has an article giving one good example of the ridiculous system. Abbot Labs (a pharmaceutical company) produces Vancomycin. The drug is sold to pharmacies at $4.00 per dose but Abbot reports to the data publishers the cost is $72.48 per dose so medicaid pays the pharmacies the $72.48 per dose and they do so no questions asked. The pharmacy makes $68.48 per dose, a ridiculous profit. This is just one example of this practice and now this instance is being litigated. You can bet this is not an isolated case. Your broke government is really watching out for your tax dollars, aren't they.
Ken