Notable exceptions include Medicare in the US being legally forbidden from negotiating drug prices.
That's not really accurate. Medicare doesn't negotiate, they just defacto tell drug companies what they'll pay. Plus on the outpatient side, it's the private insurers who negotiation on behalf of Medicare.
At any rate, drugs are ~10% of all Medical costs. Why hasn't Medicare negotiated down the other 90%?
Re:Three Levels of Wealth
by dragonwriter on Thursday August 02, 2018 @12:59PM
(#17673125)
As Medicare is not a universal healthcare system, it is not an exception to a generality about what universal healthcare systems do.
Yes. Universal healthcare systems almost all (with some notable exceptions) can and will negotiate with providers and suppliers to control costs. They are typically the largest buyer, so of course they have a lot of negotiating power.
Notable exceptions include Medicare in the US being legally forbidden from negotiating drug prices.