Forbes November 22, 2021
Elizabeth Warren says she’s “never met anyone who likes their health insurance company” and excoriates insurance companies for maximizing “their profits by saying ‘no’ to coverage.” Best-selling author and healthcare journalist Elisabeth Rosenthal refers to insurance companies as “well-deserved villains,” joined in that ignominious category by pharmaceutical companies and hospitals, who have greedily jacked up their prices.
Undoubtedly, the US healthcare system is bedeviled by greed, with drug companies, device manufacturers, hospital organizations, physician groups, and insurers scrambling to grab hold of a slice of the more than $3 trillion we spend on medical care each year. At its extreme, such greed leads people like “pharma bro” Martin Shkreli to hike their prices 10-fold, 100-fold, or more, placing affordable medical...
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