Good thoughts, Gary.
I’ve hated the topic of healthcare costs and reimbursements going all the way back to B School - anyone remember DRGs? Awful! Healthcare costs is a very dense topic and the economics and the government ‘s role is very complicated.
The driver of drug costs is not admin related expenses, but rather the cost and risk of discovery and development of new medical treatments. It’s difficult to find the capital for new drugs if the return on investment is not commiserate with the risk. Hence, the solution to lower drug prices is more along the lines of pushing down the cost and timing of R&D, including clinical trials, that will have the most significant impact on drug costs...which, by the way is well less than 20 percent of overall healthcare outlays.
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