In this episode of Nailed It!, Vonetta breaks down the pressing issue of our climbing healthcare costs in the United States – an issue that has become especially topical recently with news of Martin “Douchecanoe” Shkreli’s move to raise the price of Daraprim by 5,000%. But we’ll get into that later.
As it turns out, our health care system is a massive cluster. Americans are spending astronomical amounts of money out of pocket. Pharmaceutical companies are being run like they’re peddling luxury goods or something else equally not-literally-essential-to-live for many Americans. For most of these companies, such as Valeant, Novartis, Abbvie, and Teva, they’re run not by medical professionals, but by salesmen. Ketchup salesmen!
Take Martin Shkreli. Who is this guy? Turing doesn’t even do research and development, and has only bought a lifesaving medication already in use to gain profit.
It’s not just Big Pharma as we know it either – doctors are way in on this! Yeah, everyone, they’re getting paid big time to push drugs in the U.S...meaning that you’re not always being told about the best drugs for you.
Many people have taken to traveling abroad to find cheaper healthcare options because only the U.S. is this messed up. You could probably pick anywhere else on the map and find a cheaper healthcare option – and not necessarily at the expense of good doctors and well-reviewed procedures! Health tourism is a huge industry now, because why pay $100,000 when you can pay $20,000? Am I right?
Our very own Vonetta Logan luckily has found some solutions to this crisis, including an openly available drug rating system, and a re-evaluation of the drug patent process in the U.S. Watch the full episode to find out how she further breaks down this mess we’re in, and how we can fix it.
And for more of Nailed It!, go to the tastytrade archives to watch all of Vonetta's episodes!