Wednesday, April 15, 2009

Drug Makers, Hospitals Raise Prices

The headline in the Marketplace section of the Wall Street Journal today is,

"Drug Makers, Hospitals Raise Prices"

followed by the sub-headline,

"Double-Digit Increases in Pharmaceutical, Other Costs Come as Washington Gears Up for a Fight".


Are you KIDDING me?

"Drug makers increased prices on drugs like ... the leukemia pill Sprycel by more than 20% in the first quarter from a year earlier ... HCA, Inc. said Tuesday it expects to report higher revenue for the first quarter even though it had fewer hospitals and its admissions declined. It also said its income before taxes had nearly doubled. ... "These kinds of price increases are way out of line with what's being experienced in the rest of the economy," said Ron Pollack, executive director of Families USA. ... Drug companies have increased prices agressively in recent months ... to wring sales out of products before any health-care cost-cutting efforts eat into profits."


Nice.

Imagine the brainstorm for that one.


"Hey, everybody! The economy is suffering, everybody seems to be down on their luck, people are having a hard time making their bills and paying their mortgages, what can we do to help?"


"I know! Let's raise the cost of their meds!"
Michael said... Kick 'em while they're down. And people ridicule me when I say we live in a fascist state. Harrrumph!!!