Startling Revelation: Health Insurance Companies Make 400% More than Big Pharma
Insurance companies tell doctors what, when, where, how and what they are allowed to do for patients.
Medical industry expert Brigham Buhler says that the ‘big five’ insurance companies make over 400% more in revenue than pharmaceutical companies! The average American is on four or more prescription drugs that only treat symptoms. Medicare/ Medicaid spends $500 billion per year on pharmaceutical drugs, and when all government programs are combined, the US government spends $1 trillion on drugs and products.
Determining the root cause of disease and preventative care are ignored. 1.7 million Americans die per year from chronic disease. Most chronic disease is preventable.
Insurance companies tell doctors what, when, where, how and what they are allowed to do for patients.
Buhler explained that the cycle of corruption and profit includes the NIH, FDA, the drug manufacturers and insurance companies. Pharmacy benefit managers were brought in to drive down the price of drugs, but they were captured by the big five insurance companies that turned the savings into a profit center for the companies. The insurance companies buy up large supplies of drugs and then they profit by 30% on the sale of the drugs.
Incentives drive the pricing of drugs and insurance companies make only high profit margins drugs accessible for patients.
Out of 365 ‘blockbuster’ drugs that hit the market form 2010 to 2019, zero were created by Big Pharma; instead, 100% of those drugs originated at the National Institute of Health (NIH) that is funded by American taxpayers. Once the compounds have a certain potential, they are sold off to Big Pharma that sells them to the American public that funded the products.
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400% MORE THAN BIG PHARMA... not surprising, and they are never in the headlines, except, I remember, way back, there was some disaster or the other and Lloyds a large very old UK insurance co. had to fork out an awful lot, and apparently it really hurt some of their poor very rich investors.
What I know personally about insurance companies, and it put me right off the stuff from every angle, is when I hit a hard patch in my self employed life and went for a job at such a company. The training felt like I'd entered some kind of religious organisation... I was reverently handed a thick book of all the dos and don'ts, had to read it from front to back, most important, one had to instil fear in ones proposed clients, accidents, illness, the sky falling on their heads, any angle would do, because that gets the customers. fear, fear, fear, but we are there to protect you! After reading it I wanted to vomit and walked out without the job.
It must be like that for some army recruits who thought they were going to be heroes defending their country, till they find out they're just bits of cannon fodder for large profiteering corporations hand in glove with well paid governments.
That isn't startling at all.