Or he would be forced to reveal that he actually is just in this as a common rent-seeker.
Turing CEO Defends $750 Pill in Reddit AMA
11–20 of 56 posts
Re: Turing CEO Defends $750 Pill in Reddit AMA
#12And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it anyway. Drug companies are charging Americans 26,000% higher than in other countries (eg: Cuprimine, for which Valeant charges $260 per pill is available for $1 in other countries.)
The net result is that insurance rates are rising rapidly, and even if you have insurance you may not be able to make the copay.
As much as I hate socialism, the only solution appears to be Single Payer.
Re: Turing CEO Defends $750 Pill in Reddit AMA
#13Re: Turing CEO Defends $750 Pill in Reddit AMA
#14The problem with healthcare in America is insurance. When you are insured and insurance is paying for everything patients don't care how much anything costs. (See Tragedy of the Commons). And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it any…
Re: Turing CEO Defends $750 Pill in Reddit AMA
#15The problem with healthcare in America is insurance. When you are insured and insurance is paying for everything patients don't care how much anything costs. (See Tragedy of the Commons). And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it any…
What does this have to do with socialism? How does drug companies charging for an arm and a leg or insurance companies paying for it and raising premiums relate to socialism?
Re: Turing CEO Defends $750 Pill in Reddit AMA
#16The problem with healthcare in America is insurance. When you are insured and insurance is paying for everything patients don't care how much anything costs. (See Tragedy of the Commons). And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it any…
What does this have to do with socialism? How does drug companies charging for an arm and a leg or insurance companies paying for it and raising premiums relate to socialism?
Re: Turing CEO Defends $750 Pill in Reddit AMA
#17The problem with healthcare in America is insurance. When you are insured and insurance is paying for everything patients don't care how much anything costs. (See Tragedy of the Commons). And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it any…
Re: Turing CEO Defends $750 Pill in Reddit AMA
#18Re: Turing CEO Defends $750 Pill in Reddit AMA
#19The problem with healthcare in America is insurance. When you are insured and insurance is paying for everything patients don't care how much anything costs. (See Tragedy of the Commons). And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it any…
What does this have to do with socialism? How does drug companies charging for an arm and a leg or insurance companies paying for it and raising premiums relate to socialism?
Re: Turing CEO Defends $750 Pill in Reddit AMA
#20The problem with healthcare in America is insurance. When you are insured and insurance is paying for everything patients don't care how much anything costs. (See Tragedy of the Commons). And the drug companies charge $250 to $750 a pill or $14,000 for a years worth of drugs (recent cholesterol drugs Repatha and Praluent) to $250,000 (cancer drugs) and the drug companies justify it by saying insurance pays for it any…
Indeed much of the rising insurance costs appear to be government-mandated purchasing of a highly-regulated service, a la affordable care act. That's just elementary economics. The FDA-imposed regulatory hurdles to medical innovation also drive up costs and protect the price gougers from competition.