Discussion:
Drug companies: $57 Billion more a year; Medicare Part B: $10 a month more
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risky biz
2021-11-20 22:47:59 UTC
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'When the US Food and Drug Administration approved a costly new drug for Alzheimer's disease, Aduhelm, earlier this year, experts warned that all of Medicare's more than 63 million enrollees could wind up paying the price.

That's exactly what is happening.

Aduhelm, which is priced at $56,000 a year, is one of the key factors driving a major increase in Medicare Part B premiums for 2022, according to the Centers for Medicare and Medicaid Services. The standard monthly payment will soar to $170.10, up from $148.50 this year, the agency announced late Friday.

About $10 of the premium spike is due to Aduhelm, a CMS official told CNN.

The Biden administration is using the premium surge to push for allowing Medicare to negotiate drug prices.

"This absolutely shows the need for prescription drug pricing reform," the CMS official said. "We have rising costs of drugs, and this is the impact of that."

Congressional Democrats are currently working out the final details of their $1.9 trillion budget reconciliation package that would empower Medicare to negotiate prices of certain costly medications administered in doctors' offices or purchased at the pharmacy.

The Health and Human Services secretary would negotiate up to 10 drugs in 2025. The number would rise to up to 20 medications starting in 2028. This controversial provision, which was dropped from the package and then restored after a deal was reached in the Senate, is a far more limited proposal than the one House Democratic leaders have backed in the past.

If a million Medicare patients receive the drug, spending on Aduhelm would exceed $57 billion a year -- far surpassing spending on all other Part B-covered drugs combined, Kaiser said in a June report. Also, that's roughly the same amount that Medicare paid for all hospital outpatient services in 2019.

By the mid-2020s, Aduhelm could constitute more than 1% of all national health spending and could increase total drug spending by more than 8%, according to a June estimate by Altarum, a nonprofit research and consulting group.'
https://www.cnn.com/2021/11/16/politics/aduhelm-alzheimer-medicare-increase/index.html
VegasJerry
2021-11-21 19:05:35 UTC
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Post by risky biz
'When the US Food and Drug Administration approved a costly new drug for Alzheimer's disease, Aduhelm, earlier this year, experts warned that all of Medicare's more than 63 million enrollees could wind up paying the price.
That's exactly what is happening.
Aduhelm, which is priced at $56,000 a year, is one of the key factors driving a major increase in Medicare Part B premiums for 2022, according to the Centers for Medicare and Medicaid Services. The standard monthly payment will soar to $170.10, up from $148.50 this year, the agency announced late Friday.
About $10 of the premium spike is due to Aduhelm, a CMS official told CNN.
Also, Big Pharma continues to make slight changes to their pattent and start the clock all over again. They also buy out competitors.
Post by risky biz
The Biden administration is using the premium surge to push for allowing Medicare to negotiate drug prices.
Democrats have ALWAYS pushed for Medicare to be able to negotiate prices. Ever since Bush 2 (Republican, of course) accepted $2 million (I believe it was 2m) from Big Pharma to force Medicare to 'buy at their price.;' AND to stop them and you and me from purchasing from Canada or Mexico, by mail or in person. Remember Bush's "Jack booted border troopers stopping senior citizens busses returning from Canada and taking drugs out of their hands?"

The press had a field day with that and Bush had to call them off. Big Pharma had TV ads telling people not to purchase identical drugs in Canada, "They may have opened the boxes and swapped drugs." Last I heard, you can still take a monthly bus trip from Vegas to Nogales to buy drugs with your script.
Post by risky biz
"This absolutely shows the need for prescription drug pricing reform," the CMS official said. "We have rising costs of drugs, and this is the impact of that."
Congressional Democrats are currently working out the final details of their $1.9 trillion budget reconciliation package that would empower Medicare to negotiate prices of certain costly medications administered in doctors' offices or purchased at the pharmacy.
The Health and Human Services secretary would negotiate up to 10 drugs in 2025. The number would rise to up to 20 medications starting in 2028. This controversial provision, which was dropped from the package and then restored after a deal was reached in the Senate, is a far more limited proposal than the one House Democratic leaders have backed in the past.
If a million Medicare patients receive the drug, spending on Aduhelm would exceed $57 billion a year -- far surpassing spending on all other Part B-covered drugs combined, Kaiser said in a June report. Also, that's roughly the same amount that Medicare paid for all hospital outpatient services in 2019.
By the mid-2020s, Aduhelm could constitute more than 1% of all national health spending and could increase total drug spending by more than 8%, according to a June estimate by Altarum, a nonprofit research and consulting group.'
https://www.cnn.com/2021/11/16/politics/aduhelm-alzheimer-medicare-increase/index.html
Tim Norfolk
2021-11-22 01:53:58 UTC
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Post by risky biz
'When the US Food and Drug Administration approved a costly new drug for Alzheimer's disease, Aduhelm, earlier this year, experts warned that all of Medicare's more than 63 million enrollees could wind up paying the price.
That's exactly what is happening.
Aduhelm, which is priced at $56,000 a year, is one of the key factors driving a major increase in Medicare Part B premiums for 2022, according to the Centers for Medicare and Medicaid Services. The standard monthly payment will soar to $170.10, up from $148.50 this year, the agency announced late Friday.
About $10 of the premium spike is due to Aduhelm, a CMS official told CNN.
The Biden administration is using the premium surge to push for allowing Medicare to negotiate drug prices.
"This absolutely shows the need for prescription drug pricing reform," the CMS official said. "We have rising costs of drugs, and this is the impact of that."
Congressional Democrats are currently working out the final details of their $1.9 trillion budget reconciliation package that would empower Medicare to negotiate prices of certain costly medications administered in doctors' offices or purchased at the pharmacy.
The Health and Human Services secretary would negotiate up to 10 drugs in 2025. The number would rise to up to 20 medications starting in 2028. This controversial provision, which was dropped from the package and then restored after a deal was reached in the Senate, is a far more limited proposal than the one House Democratic leaders have backed in the past.
If a million Medicare patients receive the drug, spending on Aduhelm would exceed $57 billion a year -- far surpassing spending on all other Part B-covered drugs combined, Kaiser said in a June report. Also, that's roughly the same amount that Medicare paid for all hospital outpatient services in 2019.
By the mid-2020s, Aduhelm could constitute more than 1% of all national health spending and could increase total drug spending by more than 8%, according to a June estimate by Altarum, a nonprofit research and consulting group.'
https://www.cnn.com/2021/11/16/politics/aduhelm-alzheimer-medicare-increase/index.html
The worst part is that the evidence for it's efficacy is very slim indeed: https://sciencebasedmedicine.org/fdas-decision-to-approve-aduhelm-aducanumab-for-alzheimers/
risky biz
2021-11-22 06:30:32 UTC
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On Sunday, November 21, 2021 at 5:54:02 PM UTC-8, Tim Norfolk wrote:

~ The worst part is that the evidence for it's efficacy is very slim indeed: https://sciencebasedmedicine.org/fdas-decision-to-approve-aduhelm-aducanumab-for-alzheimers/

That sounds pretty stinky on it's own and alarming considering the cost to the public.
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