
PBMs, a Legal Scam
Healthcare Multi-National Corporations' (MNCs) shareholders rule the USA. We routinely bribe Congress to update or change laws. In the 2016 election cycle alone, deathcare MNCs collectively bribed Congress to the tune of USD272 million in campaign contributions. With the help of the government, we are the reason medical inflation is out of control.
How do pharma and PBM MNCs consistently beat the USA’s inflation average five fold+?
Double digit prescription drug price inflation is the answer to that riddle.
Our goal: Reveal the dirty players in the healthcare industry

The Rigged Game
Everyone on WallStreet understands the stock market is the biggest rigged casino game in the world. The stock market is setup by elites for elites. Non-elites are encouraged to play and given excellent IRS incentives i.e. paying 0% on qualified dividends and long term capital gains; however, non-elites are hedonistic on average and rarely are forward thinkers. It’s why the majority of the 15% and below tax bracket stay poor. Elites on the other foot tend towards forward thinking.
MNCs promise their shareholders double digit stock price inflation. Meanwhile the USA inflation rate continually lingers below 2% thanks to increased competition, streamlining businesses, increased production efficiency, technology, and automation.
WallStreet analysts routinely low ball earnings' estimates to artifically inflate share prices upon beats. Analysts recommend stocks while laying bets. It’s cheating at its status quo.
We shareholders payoff the analysts to make the recommendation for or against. We highly encourage the CEOs to push up prescription drug prices, so we may enjoy increasing dividends. We also highly encourage PBMs deep discounting to make it appear to the general public, we care. We care about portfolio inflation and that’s about all.
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According to Segal Consulting, prescription drugs are estimated to rise by 11.6% in 2017 for those under the age of 65, which follows an average price increase of 11.3% in 2016 for this same age group. Seniors don’t have it much better, with projected increases in drug prices this year of 9.9%, following the 10.9% they rose in 2016.
https://www.fool.com/investing/2017/08/06/10-reasons-cancer-drugs-usually-cost-100000-or-mor.aspx

Pharmacy Benefit Managers (PBM) put the benefit of massive drug discounts into their own pockets. It’s one of many legal scams the pharmaceutical industry uses to give consumers and insurance MNCs the illusion of discounting prescription drugs.
According to Investopedia, "PBMs serve as the middlemen between insurance companies, pharmacies and manufacturers to secure lower drug costs for insurers and insurance companies." PBMs earn about USD300 billion per year with shareholder expectations to continually grow. Per FinViz.com, the two biggest PBMs are expected to grow 8-12% over the five years. There are hundreds of billions more worth higher drug prices. Public outcry will continue to take a backseat while PBMs manipulate the industry.
http://www.investopedia.com/articles/markets/070215/what-pharmacy-benefit-management-industry.asp

The Dirty Birdies
Everyone is in on the legal scam i.e. Congress, pharma MNCs, and PBMs. Congress is bribed annually by all MNCs and the SCOTUS 2010 decision for unlimited bribes vastly helps the elites. In exchange for the hundreds of millions in bribes, Congress generally looks the other way while the pharma industry continually jacks up prices.
Healthcare industry bribes to Congress
https://www.opensecrets.org/industries/totals.php?cycle=2006&ind=H
Doesn’t Congress summon pharma MNCs to testify about drug pricing?
Yes, and behind close doors as the favored, 'Screw the USA taxpayer bipartisan healthcare effort,' Congress turns a blind eye.
PBMs are the central point of collusion. PBMs control whether a prescription drug is added to the formulary. A formulary is a list of approved drugs healthcare insurance MNCs are allowed to sell. If pharma MNCs don’t offer a deep discount to its list price then PBMs will not include the drugs on the formulary.
PBMs often negotiate upwards of 50% discounts. The higher the price of a drug the more kickbacks PBMs receive. To compensate for deep discounting inclusion on the formulary while making good on shareholder inflation promises, pharma MNCs must and do increase drug prices every quarter.
PBMs are the main reason drugs are orders of magnitude higher in the USA vs the rest of the world. For example, Gilead plans to sell branded Sovaldi at a discount in certain lower-income countries, including India, with a $900 price tag for 12 weeks of therapy, the news service notes. That’s a far cry from the $1,000-per-pill sticker in the U.S. When PBMs aren’t involved then the pharma MNCs can price drugs substantially lower because there no middleman kickback fees.
http://www.fiercepharma.com/sales-and-marketing/gilead-to-offer-cheap-sovaldi-to-80-countries

Solution
Ethereum’s smart contracts that cut out the PBMs. Middlemen add cost to the end product contrary to dirty players discounting scams.
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The best way to describe smart contracts is to compare the technology to a vending machine. Ordinarily, you would go to a lawyer or a notary, pay them, and wait while you get the document. With smart contracts, you simply drop a bitcoin into the vending machine (i.e. ledger), and your escrow, driver’s license, or whatever drops into your account. More so, smart contracts not only define the rules and penalties around an agreement in the same way that a traditional contract does, but also automatically enforce those obligations.
https://blockgeeks.com/guides/smart-contracts/
Blockchain technology will revolutize the way we do business. We won’t need politicians and other middle scammers to do business. Costs should dramatically come down. Smart contracts are growing in demand especially with adoption by WallStreet. Forward thinkers have already invested hundreds of millions.
Want to get in on a straightup game?
Then start learning and writing code for blockchain’s smart contracts.
http://www.blockchaintechnologies.com/blockchain-smart-contracts
In the mean time, hold elected representatives accountable for the bribes they receive from pharma MNCs and PBMs. Dont allow the Congressionally sponsored drug pricing scam to continue.
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