CEO who raised price of old pill more than $700 calls journalist a ‘moron’ for asking why

Insurance companies on the other hand, that can't justify denying this drug if the need arises... Will pay whatever he charges with, in all honesty, minimal damage to actual people.

Minimal damage to actual people? This circular, feeding frenzy on cash has got healthcare prices jacked beyond all reasonable size. The drug company raises prices, the insurance companies use that as a reason to raise their prices or to seek to deny more claims to save cash. They give the hospitals a hard time and raise their overhead. The hospitals have such a hard time getting paid on insurance money that they have to way jack up their prices just so they can cover costs when something actually gets paid. In the end we have a system where you have to have insurance (no guarantee it'll cover you but there's a chance...) that most people can't afford and that doesn't even kick in until they've spent more than they've got on the 'deductible.'

35 million people don't have insurance. 1 in 10 people you know could have their life financially destroyed just by having the bad luck to get sick or get injured. Not that there's a shortage of docs or nurses or people who care, just nobody wants to pay for it...

Doesn't that seem stupidly inefficient? We are creating a couple ten thousand soulless paperwork jobs and some billions in shareholder revenue and in return we get no or substandard care and a gamble on personal insolvency or worse. The alternative is that we have no shambling insurance industry hoovering money out the top and drug companies return to their former size and the price of healthcare returns to manageable levels where we can then afford to improve it.

There's nothing inherently wrong with capitalist solutions to healthcare problems. Just, maybe our capitalism could be a little better. Maybe they could tweak it a bit to get some better outcomes.

/r/news Thread Parent Link - ashingtonpost.com