Tuesday, March 29, 2011

Government wasting millions by not going generic

HealthWatch has an article today highlighting the fact that "states and the federal government could have saved as much as $329 million in 2009 if they'd more often paid for generic drugs for Medicaid beneficiaries, according to a new report by Alex Brill of the conservative American Enterprise Institute.  The report found that Medicaid paid about $1.5 billion for 20 popular drugs that have generic equivalents - overpaying by about 20 percent over the $1.17 billion of their generic equivalents.  The report adds that, with healthcare reform adding 16 million people to Medicaid and many drugs losing patent protection, the potential for savings is greater than ever."

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