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Pharmaceutical Spending

Pharmaceutical Spending

| June 27, 2022
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It turns out that Americans spend more on pharmaceuticals than any other country in the world—and not just more—a lot more.  The OECD reported the average American spends $1376 per year on medications, while Sweden spends just $540.  A new study from Harvard Medical School estimated Medicare could save almost $4 billion per year if it were to purchase medications from a wholesaler, such as billionaire Mark Cuban’s CostPlus Drug Company (www.costplusdrugs.com), rather than the tangled web of private brokers and pharmacies it currently uses.  The study showed that in some specific cases Medicare was being charged 800%+ more than what they could pay if they had gone direct or via Cuban's new company. (Chart by chartr.co)

Jeffrey Cerny





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