https://www.statnews.com/2020/01/12/venture-capitalist-alexis-borisy-bring-down-drug-prices/ … Does anybody understand why this business model hasn't been done before? (Develop new drugs that mimic the effects of other approved drugs; sell them at lower prices; make a profit by gaining market share.)
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This is the kind of scenario that makes me think about
@TheZvi's dictum that "people just don't like money" (he's often said this about people whose gambling or financial bets predictably lose) but I hesitate to make that judgment about an industry I don't know well.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
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Insurance companies have difficulty restricting formularies, doctors often aren't aware of costs
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what does "difficulty restricting formularies" mean?
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Insurance companies can't legally lower their costs too much, or they'll just be required to refund premiums to patients. Indeed, there's evidence that the law incentivizes them to push costs higher:http://pnhp.org/news/insurers-use-medical-loss-ratios-to-cheat-us/ …
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They need doctors to prescribe the new drug or pharmacists to be allowed to make a substitution on the patient's behalf. The former is an incredible marketing challenge, the latter a regulatory one.
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