Home » Insurance » Medicare Waste – overpaying for drugs

Medicare Waste – overpaying for drugs

March 2nd, 2013 Insurance

A current inspector general’s report found that Medicare waste for infusion therapy drugs is costing taxpayers an estimated $ 334 million in the last six years. But still, Washington has no problem spending. . .

Congress blocked some drug costs at 2003 prices, has Medicare wasted $ 334 million dollars in the last six years that would otherwise have to buy drugs in the best possible discount , according to a new study, which strengthens how widespread waste and abuse within the government, the major health care program for seniors.

investigators at the Health and Human Services Department Office of Inspector General said that Medicare wastes is on Plan B by buying drugs at an outdated average wholesale price, or AWP, as the basic price, the government will get the opposite.

” Our findings, as previous studies show OIG in this area-that platforms are independent of the price of drugs on the market and the confidence of an AWP reimbursement methodology has Medicare waste that cost the program Hundreds of millions of dollars out, “the inspector general said said.

Washington Guardian
CMS to save money on some medication that increased in cost since 2003, but in the field of infusion therapy , many now have lower costs.

covered For the six years from the last review, investigators estimated the government had between 54 percent and 122 percent, the payment for the drugs than was necessary. By using the wholesale price, investigators CMS said not to “no price concessions, such as rebates, ‘prompt pay’ discounts to get discounts, free goods contingent on purchase requirements, chargebacks and discounts other than those obtained by the Medicaid Drug Rebate Program.”

The IG also said that because the medicine was being purchased at 2003 prices could be that the government has always cheaper than some medications running costs. But said investigators there was a small amount, and is already in the $ 334 million estimate is calculated.

And you thought the federal government had only one problem with $ 500 toilet seats.

And investigators were able to identify the largest Medicare waste problem. a drug called milrinone lactate , which is used to treat heart failure Medicare Plan B was pay a price for the drug more than 18 times greater than the actual cost , said the Inspector General.

Of the $ 125 million Medicare spending in 2011 accounted for 21 different infusion drugs that certain medicines to 62 percent of the cost , according to the IG report.

So, why is the Obama administration’s one great thing about a 2% cut by sequestration?
Instead of pink slips federal employees, claiming teachers (NOT the federal employees) is released and releasing illegal immigrants (and trust they will return if sequestration is over) think they should. exercising oversight of Medicare waste
What problem spending?
Alfred E. Newman is running Washington?

td >> Insurance Books (Completed)

Related Post to Medicare Waste – overpaying for drugs

Celebrating Obamacare’s Exchange “Success”

February 15, 2018
Last week a new report came out – albeit not from CMS – showing Obamacare’s enrollment results for 2018. The headlines make the case that enrollment is “stable”, that the law “isn’t dead”. Another headline by...

Cavalcade of Risk #209: Risk Assessment edition

May 28, 2014
Claire Wilkinson presents this week’s roundup of risky posts, focusing on the assessment side of the equation. From hurricanes to hamburgers, there’s sure to be a post to pique your interest. Thanks, Claire! Original...

This Just In . . . .

July 4, 2013
Original content copyright © InsureBlog >>Insurance Books (Completed)...

Some additional thoughts on the ObamaTax

December 11, 2015
Yesterday, we discussed the utter futility of the penalty/tax/fine/pumpkin as an inducement for folks to buy over-priced ObamaPlans vice paying a basically nominal amount for failure to “comply.” It occurs to me, though, that...

(At least) Two Americas

February 22, 2017
Remember this guy? Back in Aught Four he said: “I spoke often of the two Americas: the America of the privileged and the wealthy, and the America of those who lived from paycheck to...

Wrapping Up LTCi Awareness Month

November 29, 2017
As we near the end of LTCIAM, the good folks at Visionary Marketing offer this handy “Protection Decision Tree” to help folks determine what kind of plan might fit them best: ...