Joint replacements are the #1 expenditure of Medicare. The process of approving these medical devices is flawed according to the Institute of Medicine. It is time for patients' voices to be heard as stakeholders and for public support for increased medical device industry accountability and heightened protections for patients. Post-market registry. Product warranty. Patient/consumer stakeholder equity. Rescind industry pre-emptions/entitlements. All clinical trials must report all data.
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Thursday, April 5, 2012

Pharma Lobbying ROI-77,500%


ZAID JILANI 4.3.2012 at 3:30 PM  United Republic
Investing is a time-honored American tradition. Millions of Americans have some sort of investment, and the stock market is an honored cultural institution. But investing your money in a publicly traded company isn’t the only way to make a buck. Let’s say you’re a powerful industry that wants to make a lot of money with an enormous Return On Investment (ROI). One way you could do so is by investing in lobbyists.
We here at United Republic have put together some stats about the sort of ROI Big Money expects for its lobbying dollars in Washington. As one example, an average American can expect a ROI of 11 percent for investing in one Blue Chip stock in the Dow Jones Industrial Average in 2010. Meanwhile, Big Pharma has a ROI of 75,500 percent for the lobbying dollars it spends to bar the government from bargaining for cheaper drug prices through Medicare:
 Of course, that money that Pharma and the rest of the industries on the chart are making is at expense of American taxpayers and American consumers. But as long as we have a political system that bends to the whims of Big Money, the best ROI you can get is to be a lobbyist.

My comment:
The #1 expenditure of Medicare is joint replacement. The IOM (Institute of Medicine) 7/29/12 reported that the 510(k) clearance of implanted medical devices should be scrapped because it does not assure safe and effective devices. The orthopedic PAC was larger than the AMA in the last election. Connect the dots. Patients are in medical and legal purgatory globally because of the entitlements that ROI bought.

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