- cross-posted to:
- nyt_gift_articles@sopuli.xyz
- cross-posted to:
- nyt_gift_articles@sopuli.xyz
In a report, the regulator sharply criticized pharmacy benefit managers, a reversal from its longstanding hands-off approach to policing the companies.
In a report, the regulator sharply criticized pharmacy benefit managers, a reversal from its longstanding hands-off approach to policing the companies.
That’s kind of the only reason
middlemenmiddlepeople exist. To buy things for a lower price, sell those same things at a higher price, and keep the difference.There is a level of value being added when the middlepeople handle transportation, logistics, ensure availability, etc. It isn’t only buying and selling in a vacuum like the stock market.
That said, a lot of them take far more value than they add, which is a problem.
Agreed for most cases. But for the medical industry, pharmacy benefit managers, which are largely owned by the insurance companies, do nothing but drive up the price because they are acting more like a monopsony. So it’s a case of the insurance companies often getting paid two (if they own the pharmacy benefit manager) or three times (if they own the clinic) and adding an extra cost each step of the way.
Sorta. As a middleman who works his ass off to make other people’s lives easier, it’s not quite as black and white. My job is kind of unique, though. We are geographically located in the only access point for a niche market. Our vendors physically cannot supply our customers, so we middle.
I’m sure there are a shitload of useless middlers suckling off the consumer’s teat, but sometimes we are necessary.