Friday, 19 January 2018

Leading US Health Systems Announce Plans to Develop a Not-for-profit Generic Drug Company

quote [ Intermountain Healthcare and other US health systems form not-for-profit generic drug company to help patients by ending shortages and reducing prices ]

We really are the last "civilized" nation holding out. Perhaps the walls will finally be breached from within the industry itself, instead of from without. Ars Technica's take on it in extended.

[SFW] [health] [+6]
[by midden@4:02amGMT]

Comments

hellboy said @ 9:23am GMT on 19th Jan [Score:1 Sad]
The United States is not a "civilized" nation.
midden said[1] @ 2:02pm GMT on 19th Jan
Thus, the original air quotes.
satanspenis666 said @ 4:59am GMT on 19th Jan
They are just getting ready to produce generic viagra in 2020.
Pandafaust said @ 6:46am GMT on 19th Jan
Hmm, I wonder if they will make their generics available to other hospital systems or limit their supply to just their own customers?

Either way this is good news. It's not, you know, what should happen - single payer health care with a remit to negotiate prices with drug companies. But it's a damn good work-around for rules banning Medicare/Medicaid from applying downward pressure on price.
cb361 said @ 8:52am GMT on 19th Jan [Score:1 Underrated]
Presumably they will make their drugs available to themselves for roughly the same price that separate drug companies charge, so that they receive the profits that currently go to those companies. I doubt this inititive would make much difference to the final bill.
steele said @ 12:18pm GMT on 19th Jan
I hope I'm wrong, but this is probably a stopgap measure so they can point and pretend the industry is capable of regulating itself.
midden said @ 2:23pm GMT on 19th Jan
I guess it depends on how they define, "not for profit." I'm sure they can always do accounting tricks to avoid profitability, but it would be hard to justify charging some of the sky-high prices we currently see. I'm imagining the lower price drugs as loss-leaders for other other services. Better to make a reasonable profit on a customer through other channels than to lose the customer all together.
steele said @ 4:55pm GMT on 19th Jan
According to wikipedia:
In 2003, of the roughly 3,900 nonfederal, short-term, acute care general hospitals in the United States, the majority—about 62 percent—were nonprofit. The rest included government hospitals (20 percent) and for-profit hospitals (18 percent). In exchange for tax-exemptions, estimated to total $12.6 billion in 2002, nonprofit hospitals are expected to provide community benefits.

So I don't know how much of a difference this will make to the consumer as far as price goes. It's kinda sounding like the difference between Republican's "access to healthcare" and the Leftist's "healthcare as a right."

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