Yeah it seems like the GPOs are a totally unnecessary step because the cost of drugs should be determined by the free market and not 3rd party entities. If you have a "gatekeeper" as he put it, these GPOs will work together in order to artificially raise the price to whatever they want so they can maintain a high profit margin. Of course that's illegal, but when they get caught they just have to pay a fine which is usually only a tiny fraction of their total revenue.
Corporate GREED with no sense of decency or any feeling of obligation to the public good. Let's remember, it is our tax laws and other public policy that allows them to make obscene profits and obscene bonus and salary payouts to their top management in the first place.
Greed is a human feature and even still emergent in groups of people. Only realistic oversight and relevant, dynamic regulation can help guide competition in a moral way.
Unfortunately greed flourishes in groups. It is almost always the greediest individuals who are the ones that seek the most power and highest ranking positions. If you or your company isn't greedy, you will be put out of business by another company that is greedier and willing to go the extra step to play dirty.
Fascinating - The genesis of GPOs in the 1980s was a means to reduce drug and medical supply costs whose aggressive contracting and greed may be their own undoing.
60 minutes, you're not going to post the whole story? Why do you not post every story on here? They could be making you money. If it's important enough for Sunday night, it's important enough to be in here.
As an ex McKesson contact adminstration, it's easy to understand this model. The system has some more issues because of Rebates and incentives to sales people.
AMERICA is OWNED by CORPORATIONS. The Politicians SOLD it to them over 40 years ago. The man in the video said it himself, "Corporations are not Charities"
Why don’t brand names with health insurance work out a fee for the drug and they will buy more and sell the generic to the ones that insurance won’t cover or self pay. Only makes sense to price less sell more have good business relationships and have more availability of them by priority.
I love how they don't say what Vincristine is. It's a very powerful chemo drug. My daughter had to take this stuff back when she was doing chemo for her brain tumor.
@@PresidentialWinner oh yeah she is doing great. She still has the tumor. It will never go away but you would never know that she has one unless she tells you.
@@PresidentialWinner the only thing we can do is monitor it for the rest of her life. They think she has had it since she was a baby but there were no symptoms until she was about 10 or 11. She is 19 now. A routine eye exam is what caught the attention of the eye doctor and his staff.
Generic's efficacy has been proven and tested as it undergone stringent QAs before releasing after production. Generic's demise is due to big pharma's lobbying and aggressive marketing. Analogy: if your Rx for an antibiotics is given at 3x a day for 7 days, would you buy the branded one where your money can just afford up to 5 days or with a generic brand that can finish the whole 7 day treatment??
Have you read the book, Bottle of Lies? Generics are NOT the same, and each generic is different from each other too. Do you look at the monthly rejects that are sent on drugs, pres. and OTC. They aren't forced to take them off the shelves either.
I’m pretty sure if one of these ceo suffered a serious medical condition and the only generic medication they can afford is no longer available to save their life i bet they be rushing over to fix problems but since greed is more important than human lives it will always be profitable to let people die off from untreated diseases and medical problems that can be prevented by certain treatments and medications
