Some Generic Drugs Cost Thousands More Than They Should, Analysis Finds
When examining a selection of so-called specialty generic drugs, the Wall Street Journal found that Cigna and CVS were charging at least 24 times higher on average than what the manufacturers charge. Also: medical debt, private equity deals, and more.
The Wall Street Journal:
Generic Drugs Should Be Cheap, But Insurers Are Charging Patients Thousands Of Dollars For Them
The cancer drug Gleevec went generic in 2016 and can be bought today for as little as $55 a month. But many patients’ insurance plans are paying more than 100 times that. CVS Health and Cigna can charge $6,600 a month or more for Gleevec prescriptions, a Wall Street Journal analysis of pricing data found. They are able to do that because they set the prices with pharmacies, which they sometimes own. (Walker, 9/11)
On medical debt and the high cost of living —
AP:
Helton Teams Up With Organization To Eliminate $10 Million In Medical Bills For Colorado Residents
Retired Colorado Rockies first baseman Todd Helton is teaming up with the organization RIP Medical Debt to help eliminate $10 million in medical bills for residents around the state. The program is set to start later this month, with recipients around Colorado receiving letters that notify them their medical bills have been paid in full. Medical expenses have been among the leading causes for bankruptcy in the United States. (9/11)
CNET:
Nearly A Year After Hearing Aids Became Easier To Get, Survey Suggests People Still Aren't Wearing Them
A nationwide rule allowing hearing aids to be sold over-the-counter for treatment of mild or moderate hearing loss went into effect last fall. This was a big deal because it removed the requirement to get a prescription and fitting (which requires an appointment, in-person fitting and more money) as well as the sale of cheaper devices. (A good pair of over-the-counter hearing aids will run you between $800 and $3,000, but people may still save an average of a couple thousand dollars with OTC compared with prescription devices.) (Rendall, 9/12)
New Hampshire Public Radio:
NH Seeing Higher Food Insecurity Because Of Inflation, End Of Pandemic Aid
Earlier this year, people who pay attention to food insecurity in New Hampshire noticed something alarming: The rate of families reporting insufficient food access shot up by more than 10%. By this spring, estimates showed that more than half of Granite State households with children didn’t have enough to eat. (Dario, 9/11)
On the costs of primary care medicine and private equity deals —
The Boston Globe:
Primary Care Medicine: Legislation Would Provide Boost For A Health Cornerstone
Primary care is considered by many to be a cornerstone of medicine, keeping patients healthier and avoiding more costly intervention down the line. The “Primary Care for You” legislation, which will be the focus of a Joint Committee on Health Care Financing hearing Tuesday, is only the latest time the state has sought to reform primary care. Former Governor Charlie Baker tried twice — in 2019 and again in 2022 — with proposals that would have required providers and payers to increase spending on behavioral and primary care by 30 percent over three years. (Bartlett, 9/11)
Bloomberg:
Troubled Pennsylvania Hospital Reveals Failure Of Private Equity Deals
When private equity firm Prospect Medical Holdings Inc. bought a cash-strapped hospital outside Philadelphia, it promised a return to profitability that would ensure the long-term sustainability of a facility that thousands of people counted on. Seven years later, Delaware County Memorial Hospital is closed, Prospect is in debt and a community group is suing. (Coleman-Lochner and Church, 9/12)
