Wednesday, September 23, 2009

Senate Finance Committee Overrides Several Republican Delays To Health Overhaul, Tonight

Fighting off various largely partisan stall tactics, the Senate Finance Committee made progress today on President Barack Obama's top domestic priority, a broad overhaul of the $2.5 trillion healthcare industry.

The Obama Administration would rein in costs, increase the regulatation of health-insurers and expand coverage to many of the 46 million uninsured Americans. Reuters carries this coverage, tonight:

. . . .The S&P Managed Health Care index of large health insurers' stock prices fell for a second straight day as several analysts said the amendments to the Baucus bill were generally unfavorable to the industry.

Under the Baucus plan, all U.S. citizens and legal residents would be required to obtain health insurance, with subsidies offered on a sliding scale to help people buy it. The plan would create state-based exchanges where individuals and small businesses could shop for insurance. . . .

Roll tide, roll. . . .

Separately, outgoing CEO Fred Hassan told various pundits this afternoon that he might join a "very small health care company," post-merger, one perhaps only on the verge of generating positive cash-flow.

So, the Schering-Plough "CEO-For-Now" goes from widely influencing US health care policy, in his former role as the industry-lead of PhRMA (he last served in that role in early 2008), to watching -- from the sidelines, as many of the measures he actively opposed, with vitriol, are crafted into the coming law. . . . life simply rolls on, doesn't it, Mr. Hassan? It sure does.

Roll tide, roll. . . .

1 comment:

Anonymous said...

Interesting article in US News and World Report on Pharma contributions relative to income.