Thursday, August 17, 2017

ITS TOUGH AND EXPENSIVE TO CREATE NEW DRUGS...ORIGINALLY PUBLISHED 6/4/12

Three major drug companies spent $100 billion dollars on Research and devleopment in the last five years.

Three major generic drug companies spent under $10 billion on research and development in the last five years.

Since important new drugs are almost impossible to find the major drug companies are likely to find fewer new drugs over the next ten years as their cash flow will decline.

Since generic companies don't do much research or find too many new drugs, the net result will be less drugs, more illness and consequently, more expense.

Unless we get very lucky and the drug companies have a few more breakthroughs.

Furthermore, there is a strong likelihood of declining morale and a significant weakening of the talent who are able to find new drugs.

HEALTHCARE - NO TRUTH - NO FIX? PART TWO(ORIGINALLY PUBLISHED 3/27/17)

The chess battle over health care will cost you a lot of money.  It doesn't matter what your ideology is it will cost you a lot of money, each and everyone of you.

Simply put, this is the story.  Approximately 65% of medical dollars spent go to labor, directly or indirectly.  That's the millions of people who provide the health care system, whether they work for a hospital or a biotech company.  Labor is 65% of every dollar received by the medical profession.

The revenues for the medical industry (in entirety) can either be paid for by the government (TAXES) or by individuals (PREMIUMS).

When you pay the taxes to the government for the medical industry they are either called Medicare, Medicaid or something similar.  When you pay the premiums to your insurance company they are paid for by your personal income.  So you either pay taxes or premiums, both are used to pay the workers in the medical profession 65% of those two numbers.

No politician is willing to tell the people who don't work in the medical profession that medical expenses are destined to rise PERMANENTLY.  The cost of labor is not going down so we will have a continuing rise of medical care costs.  There is no competition.  There is basically a single payer system and that's just the way it is.  So forget the politics.  It's bogus.  

Saturday, August 5, 2017

LEAKERS = WHISLE BLOWERS (ORIGINALLY POSTED 1/2013)

I am seventy five years old.  I was a young boy during WWII.  It was commonplace to be exposed to stories about the Germans in which children were rewarded to come forward to snitch on their parents or family.  These young children were following the Nazi propaganda line.

Many adults looked in dismay as a country rewarded children for being whistle blowers.  It was considered an abominable breach of most American's ethics.

Now in America we reward, with substantial gifts, those who help our Justice Department and SEC prosecutors capture and then punish who are often their friends and colleagues.  Our sense of justice is to tell people if you whistle blow, you can get rich and if necessary go into the witness protection program.

As Americans we have actually come to accept this as an appropriate approach to the pursuit of crimes.

I have great difficulty understanding how we abhor the actions of the children of Germany, but find little ability to speak about whether we want such behavior in our own country.




Wednesday, August 2, 2017

HEALTHCARE - NO TRUTH, NO FIX? PART ONE (ORIGINALLY PUBLISHED 7/10/11)

Let this sink in over and over and over again. According to easily available sources:

A. Half of the population spend little or nothing on health care.
B. 5% of the population spend about half the total amount of health care costs.
C. To put it in clear terms, 5 people in every 100 account for 50% of U.S. health care spending.

It's another example of not putting the real facts on the table because it's politically unpopular. Therefore we waist billions of words and we never solve the problems.
 

Shepard Osherow. All Rights Reserved