Polio’s Return After Near Eradication Prompts a Global Health Warning
Getting serious about a single payer system [Commentary]
A single payer system — where the government pays for health costs — is now recognized by many in the U.S. as the best solution for our health care problems. It was taken "off the table" in 2009 by Sen. Max Baucus, A Montana Democrat who reportedly received more money from the pharmaceutical and health insurance industries than any other Congressman. But now the flood of single payer advocacy cannot be turned off by vested business interests. It is time to progress from the stereotype of single payer to having a serious discussion about it.
Ironically, even after its recent success in covering millions more Americans, the problems with the Affordable Care Act serve to illuminate the advantages of single payer. The public, although confused by the divisive rhetoric around health care reform, is coming to realize that the complexity of the law and the pursuit of insurance company profits are major problems for the ACA. Back in 2009, a majority of Americans favored a single payer-like system. The country may now lose patience with the protracted process of ACA implementation, with Republicans yapping at its heels, until 2020 when the final provision closing the Medicare prescription drug doughnut hole fully kicks in.
The 30-page H.R. 676, the single payer bill of Rep. John Conyers Jr., a Michigan Democrat, shows how simple it is to cover everyone. It provides savings through quality care — including protection from harmful overuse and efficient, timely management of chronic disease — as well as savings through national monopsony buying power and freedom from insurance business profits.
But if this bill, regularly reintroduced since 2003, is now to be taken seriously, it needs improvement. Most importantly, the proposed federal board governing both payment and care decisions lacks clinical authority and is too politicized. Instead, doctors must be granted, and must accept, responsibility for a national, private, transparent, interprofessional and data-driven mechanism to define quality options for care choices. This will free us from the snarl of various quality guidelines and protect our patients from irrelevant insurance and government interference while providing authoritative relief from over-utilization. This key improvement in the bill is also needed because coverage decisions must be removed from states, as proven by their politicized Medicaid problems.
Most politicians and health policy experts with national reputations remain silent. Some may have too great a stake in the ACA to join in the single payer adventure right away. But the country did just pass this valuable law. Even recognizing the tight political maneuvering required, this attests that the political potential for major change to our health care system is there. Luminaries who have asserted the wisdom of single payer include political commentator Bill Maher, former U.S. Secretary of State Colin Powell, Nobel-prize winning economist Paul Krugman, Sen. Bernie Sanders of the Vermont Progressive Party and former U.S. Labor Secretary Robert Reich. With even conservative columnist Ross Douthat alluding to the unspeakable in the April 5th New York Times "(ahem, single payer)" and a number of states trying to establish it on their own, supporting single payer nationally no longer appears out of reach.
Gilead Profit Triples, Hepatitis C Drug Revenue Reaches $2.3B
Published April 22, 2014
| Reuters
Gilead Sciences Inc (GILD), which ignited a fierce debate over prescription drug prices, said its new $1,000 hepatitis C pill generated quarterly sales of $2.27 billion, helping the company's quarterly net profit nearly triple.
The Foster City, California-based company on Tuesday reported net income for the quarter of $2.23 billion, or $1.33 a share, up from $722 million, or 43 cents a share, a year earlier.
After one-time items, Gilead said it earned $1.48 per share, which beat Wall Street estimates by some 50 cents a share.
"It's pretty remarkable that they can generate $2.3 billion in revenue (from hepatitis C drug Sovaldi) in the first 3 months on the market," said Sanford Bernstein analyst Geoffrey Porges. "People's numbers are going to go up dramatically for this year and next for Gilead."
The company's revenue doubled to $5 billion, beating by a wide margin the $3.98 billion average Wall Street analyst forecast, as compiled by Thomson Reuters I/B/E/S.
Gilead's decision to price its Sovaldi hepatitis C drug, which was approved by U.S. regulators in December, at $84,000 for a 12-week course of therapy has rankled lawmakers and insurers, spurring an outcry over the rising costs of specialty medicines.
The company continued to exclude sales of Sovaldi and other hepatitis C drugs from its forecast for 2014 product sales, which it still expects to total between $11.3 billion and $11.5 billion.
Gilead, the world's largest maker of branded HIV drugs, said overall sales of antiviral drugs rose to $4.51 billion in the quarter from $2.06 billion a year earlier.
UnitedHealth Group Inc, the largest U.S. health insurer, said last week that its first quarter costs to cover Sovaldi were much higher than expected, but it anticipated spending would moderate after the first big wave of patients are treated with the drug.
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