(NaturalNews) Just when you thought the wasting of hard-earned dollars couldn’t get any worse, recent reports reveal that the Canadians have wasted a staggering $15 billion in just five years on overpriced drugs. At least part of the immense waste is thought to be due to questionable pharmaceutical sales tactics.
The gross overspending was revealed thanks to some extensive research and a hidden camera investigation led by The Fifth Estate. Express Scripts Canada, a health benefits company, helped to conduct research which shows that between 2011 and 2015, employer-funded private insurance plans across the country wasted more than $3 billion per year. How did this happen? Companies were covering the cost of expensive drugs that have cheaper options, and were paying for extraneous dispensing fees. (RELATED: See more examples of rigged pricing and fraud across society at Rigged.news)
In total, about 20 percent of the nation’s $81 billion spent on medication during that time could have been eliminated.
John Herbert, director of strategy, product development and clinical services for Express Scripts Canada, says, “It’s quite a staggering number.” The Ontario-based company helps the private insurance industry eliminate wasteful spending.
“It’s key for Canadians to know this because they can save themselves as well as their employer money by choosing to take advantage of those lower-cost, clinically effective medications,” Herbert added. (Click to Article)