To wade into health care is to wade into the worst rats nest you can imagine.
It all started with my own stupidity. When I turned 65, I went on Medicare. That was good for me since my doctor visits seem to be covered. It was better for my doctors since they jacked up their prices.
I didn’t opt for the RX prescripition drug coverage because I didn’t need it. At least until this week when my dermatologist prescribed Zyclara, for which my local pharmacy wants $1,000.
I freaked:
+ Canadian pharmacies want $400, but take several weeks to deliver. They only use the mail. If they use FedEx the U.S. Customs seizes my cream and holds it forever. Isn’t my government charming?
+ I can’t sign up for Medicare RX drug coverage until mid-November, when our government has determined that the next Annual Election Period begins. Ditto more charming.
Health is the only product/service you or I “buy” which we don’t know what it costs. When I commented that $4,450 seemed like a lot of money for one visit and one follow-up visit (total time 30 minutes) to have five skin thingees removed, my dermatologist said it wasn’t his mistake, it was his outsourced supplier and meantime I shouldn’t worry: I didn’t pay. The Government paid. I never did find out what the final bill was — or if the bill got changed (which I doubt).
Healthcare has gotten pricey because of new technology and new drugs. I know how expensive this stuff can be because I’ve lost money on “promising” new drug companies who ran out of money waiting out endless FDA delays.
The morality bugs me. People ignore their health (no exercise, obesity, etc.) and you and I pay for them through our taxes. It’s not worth thinking about this since it’s a societal decision — like the war in Afghanistan or building a bridge in a city I never visit.
So, what should I do about my $1,000?
+ Suck it up and pay the money.
+ Wait for Canada to deliver and live with the uncertainty that they may deliver the wrong drug — I’ve read the stories.
+ Wait for November to sign up, and then buy the drug.
The BIG problem with your health is you don’t want to mess with it. I’ve never believed in the theory that you get what you pay for, i.e. the more you pay the better. But you really do need to develop relationships with doctors and pharmacies you can trust. Local ones work better than distant ones.
Yesterday I read this story:
IDG News Service – Google is at its wit’s end dealing with illegal sellers of prescription drugs that market medicines on its ad network, so it has decided to take some of these allegedly rogue advertisers to court.
In addition to pursuing the alleged violators, Google hopes that its action also serves as a deterrent against other illegal medicine peddlers, Google said Tuesday.
Google has struggled with the problem for years, Michael Zwibelman, a Google litigation counsel, said in a blog post.
“It’s been an ongoing, escalating cat-and-mouse game — as we and others build new safeguards and guidelines, rogue online pharmacies always try new tactics to get around those protections and illegally sell drugs on the web,” he wrote.
Rogue prescription drug sellers have increased in number and become more sophisticated in their dealings, and “a small percentage” of them have been able to dodge Google’s efforts to block them from running ads on its network, according to Zwibelman. This occurs despite Google’s tightening of its advertiser verific
The drug discovery business is gambling bigtime. I know the family of the inventor of Valium. That family is rich beyond your wildest dreams.
Years ago I put money into a bunch of startup drug companies. I was naive, but greedy. One did well — Cougar got bought at $43 by JNJ. Chelsea is doing better. But the process of testing a drug for satety and efficacy — the FDA’s two criteria — is slow and ultra-expensive. In total, I’m still under water.
I own stock in a promising drug company called Ziopharm. They’ve just reported favorable news:
NEW YORK–(BUSINESS WIRE)– ZIOPHARM Oncology, Inc. (Nasdaq: ZIOP) announced today that the United States Food & Drug Administration (FDA) has granted Orphan Drug Designation to darinaparsin (ZinaparT or ZIO-101) for the treatment of peripheral T-cell Lymphoma (PTCL). The United States Orphan Drug Act of 1983 was created to provide incentives for companies to develop and market treatments for diseases or conditions affecting fewer than 200,000 people in the United States. The Orphan Drug designation provides eligibility for a seven-year period of market exclusivity in the United States after product approval, an accelerated review process, accelerated approval where appropriate, grant funding, tax benefits and an exemption from user fees.
And the stock should pop a few pennies. But look at the miserable five year chart.
I paid $4.30. The hope is that the stock is worth $20 or more. But so far, it’s been a long-haul for nothing. Why didn’t I sell when it hit $6? Because good news was imminent. Clearly a bunch of other, more intelligent stockholders did.
The “new” Harry is staying away from drugs, pharma and healthcare investing. This is a rats nest no one needs.
Developing for the iPad and the iPhone. Walt Mossberg of the Journal left his noebook at home and traveled with his iPad. See today’s Journal. My friend, the real estate lawyer, took one on a week-long trip into Yosemite. Every evening he’d load the day’s pictures and make a slide show for the group, replete with music. The iPad’s battery lasted a week.
I spent much of yesterday working with a group who can put my dictionary onto the iPhone and iPad. They write apps for people who aren’t good at programming but have ideas or databases, like me. I’m crossing my fingers on this one.
Don’t put your email address list in the “cloud.” Like give it to Google gmail. These “cloud” email services are too easy to hack. Once your friends receive all the junk email allegedly from you, they won’t be pleased. Trust me. I’m not pleased with several friends.
Harry Newton, who’s impressed with gold, Apple and high dividend stocks, like NLY and AGNC.
Genuinely actually very good web site article which has received me considering. I in no way looked at this from a stage of look at.
Harry
Buying your meds in Canada can be good but don't buy them online unless you want to be hounded with emails for the rest of your life to buy all kinds of drugs…I did this once…the meds were mailed from “India” and I still get 6-10 emails per day dumped into my Trash File from these people. As suggested, take a short trip to Niagara. If you ever decide to buy meds in Mexico make sure it is in Algadones and not Tijuana or any other place where you have to proceed more than one or two blocks across the boarder…not safe. I get all my dental work done in Algadones. I have had many “pre-cancerous” spots removed with liquid oxygen…don't be overly concerned about being in a hurry as they develop very slowly. Do, however, get any spots removed from your face, scalp and back that the dermatologist deems necessary and urgent.
Harry,
Don’t mean to repeat yesterday’s comment war, but I can’t keep quiet.
You bemoan having to pay for the health care of the obese, apparently feeling that their laziness shouldn’t punish others. By the same logic, I’m frustrated that you didn’t follow up on your $4,450 dermatology visits. You made a feeble attempt to question the charges, but doubt that they were reduced. So your ridiculous $8,900 an hour rate gets passed on to the taxpayers. I’m not sure I understand the difference between you and the fat people you complain about. You don’t want to pay taxes for their laziness (unwilling to exercise), but are perfectly willing to let me pay taxes for your laziness ($8,900 an hour?!).
I wish that everyone were height/weight proportionate and dermatology visits were fairly priced, but in the meantime… I hate to see the pot calling the kettle black.
Seriously, it would be incredibly stupid for a wealthy person to attempt to smuggle drugs from Canada or Mexico.
Harry – Do you have a search function (keyword or something similar) to search through your old postings? Why am I asking? For example I have a suggestion for the Ipad that I think you would be interested in but am not sure if you have mentioned this already, and I have missed alot of your resent posts…Anyhow the suggestion is a mini travel speaker, a friend had one whilst we were holidaying in Spain recently, they are excellent. Just in case check out http://www.xm-i.com/index.php?option=com_virtuemart&Itemid=161&vmcchk=1&Itemid=154 Cheers
RE: “I spent much of yesterday working with a group who can put my dictionary onto the iPhone and iPad.”
Now that's progress!!!
Do you realize how progressive you have become since you acquired an iPhone and iPad? You are like a new man – hidden benefits…
You might think about working on your “Hitchhikers Guide to the Women Entrepreneur's Galaxy” as well…
RE: “I spent much of yesterday working with a group who can put my dictionary onto the iPhone and iPad.”
Now that's progress!!!
Do you realize how progressive you have become since you acquired an iPhone and iPad? You are like a new man – hidden benefits…
You might think about working on your <link galaxy”'=”” href=”https://www.technologyinvestor.com/?p=3846″ rel=”prev” s=”” title=””Hitchhikers Guide to the Women Entrepreneur”> as well…
And…. one more thing.. you asked.. “+ Wait for November to sign up, and then buy the drug.” ?? Harry… WHAT is there about the term pre-Cancerous that you don't understand? You have a pre-Cancerous condition out on your face and you are PONDERING WAITING for the bureaucracy? You should run screaming into the nearest CVS SCREAMING for the prescription. Jeeez… have you ever SEEN anyone with those nifty white scars on their nose? Or no nose? Run! Don't ponder! But, do price Aldara, I'll be it's half…
all the serious stuff got taken off eons ago. This stuff is so small even the dermatologist never noticed it. The dentist did. There's a lesson here.
Harry – are you kidding me? You tell us how much money you made “selling your business”. You are very clearly a man of means, wealth, and taste. We know about your investing, your trips, and your gadgets and toys. First of all when you turned 65 why would you (or anybody of your means) opt out of the RX Plan? Looking to save a few bucks. Everyone knows as we get older we will need more medical attention, and more prescription drugs. I can understand opting out because you are financially strained but you are NOT! I enjoy your investing tips but your whining and complaining about the cost of your medication is a bit moronic. You are rich – you should have taken the RX coverage so now pay for the damn medication and stop complaining.
Health is the only product/service you or I “buy” which we don’t know what it costs. When I commented that $4,450 seemed like a lot of money for one visit and one follow-up visit (total time 30 minutes) to have five skin thingees removed, my dermatologist said it wasn’t his mistake, it was his outsourced supplier and meantime I shouldn’t worry: I didn’t pay. The Government paid. I never did find out what the final bill was — or if the bill got changed (which I doubt).
This is why health care costs will always go up people don't know what they are paying and don't care because the government or their insurance is paying for it. The President said health care costs are going up 6% and his plan would have them go up in line with the 2-3% inflation rate. I would love to have my health care costs go up only 6% don't know what services he was talking about.
Best to you Harry
Vito
We all make choices, Careful who you vote for.
Harry, Many retired people go to Mexico to buy medicine, usually you can buy the medicine with the same amount or less you pay the co-pay here. Give it a try and also take your camera with you, it's good sightseeing too. A mini vacation to Canada will work as well, but not so pleasant in the winter though. Next time when you are in the Palm Spring area, don't forget to buy your medicine in Mexicali, Algodones, or Tijuana.
The only good news about the FDA is that it can't possibly become any more corrutp than it currently is. Take a close look at the voting members to find out exactly who these people actually are. You may be suprised to find out that if their personal stock holdings are going to suffer due to an allowing vote that allowing vote won't happen. Once again the most corrupt organization on the planet is the US FDA, and you can take that to the bank.
Harry for the $600.00 difference you can take a mini vacation to Canada and pick up your prescripition.
Zyclara and Aldara have the same active ingredient. Yes, they have different dosing schedules, but the dermatologist here in Florida (where the stuff is about as widely used as Preparation-H) give out different dosing schedules for different degrees of AK.
Hint, Aldara, at least, comes in little foil packets. DO NOT cut off the top. Take a needle and make a tiny hole in the packet and use a teeny tiny amount. Each packet will last a lot longer. Obviously, the stuff is a lot more expensive per weight/volume than gold, so make a tiny hole.
In either case, you will be moaning about the scabs for weeks. Get used to it.
On a different topic, I could not DISAGREE with you more about using Gmail I love it and everyone I know who uses it loves it. I NEVER understood why you continue to torture yourself with Microsoft Outlook. Yes, AOL mail got hacked, but …. that’s AOL! The features of Gmail would keep you amused for months. On second thought, never mind. IF you got GMail then you would be so excited with its flexibility and “activity boxes” you would write about nothing else and those of us who know all about it would have to go read “Red State” or something.
Go price Aldara and then ask your Dermatologist what kind of a ROI he gets when he turns in his records of prescriptions to the Advance Man from Graceway Pharmaceuticals.
Harry,
Don’t mean to repeat yesterday’s comment war, but I can’t keep quiet.
You bemoan having to pay for the healthcare of the obese, apparently feeling that their laziness shouldn’t punish others. By the same logic, I’m frustrated that you didn’t follow up on your $4,450 dermatology visits. You made a feeble attempt to question the charges, but doubt that they were reduced. So your ridiculous $8,900 an hour rate gets passed on to the taxpayers. I’m not sure I understand the difference between you and the fat people you complain about. You don’t want to pay taxes for their laziness (unwilling to exercise), but are perfectly willing to let me pay taxes for your laziness ($8,900 an hour?!).
I wish that everyone were height/weight proportionate and dermatology visits were fairly priced, but in the meantime… I hate to see the pot calling the kettle black.
How about aldara(generic, it’s a lot cheaper. it’s 5% cream instead of 3.75%.. just sales gimmicks by drug companies
Did you ask your dermatologist if he had any samples? This could hold you over until you get it from Canada.