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Posts Tagged ‘Bloomberg’

Doris is 85 and suffers from moisture build up in her eye, what some call wet eye.   She is on Medicare and gets treated with Eylea, a Regeneron product, every 4-5 weeks.  Each treatment costing $6,200.   That is more than $70,000 per year even though Doris never made more than $40,000 while working.   Her total out of pocket cost is $10.29 per treatment.

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Disclsoure and Media Development Background:  Parish & Company maintains no speculative investments in the health care companies discussed and does not collaborate with any private equity or hedge funds.  It’s goal is to identify high quality health care opportunities suitable for long term oriented investment.

This effort includes providing high quality news material to leading journalists including Gretchen Morgenson of the NY Times, Mark Maremont and Rich Rubin of the Wall Street Journal, Joseph Tanfani of the LA Times and Margaret Collins of Bloomberg.

In doing its research Parish & Company has revealed a massive price fixing scheme, both in medications and medical equipment, being orchestrated by private equity and hedge funds, often financed by public pensions including Oregon PERS.   These firms purchase drug and medical equipment royalty cash flows and, in conjunction with the use of various drug and medical procedure distribution systems, including hospitals, specialized clinics and pharmacies, are price gouging patients and fleecing taxpayers via Medicare and Medicaid reimbursements.

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In 2012 I reviewed Mitt Romney’s IRA for Mark Maremont of the Wall St. Journal, explaining the mechanics regarding how he amassed $100 million in this tax deferred account.  This and related follow up stories in other publications after Maremont broke the story prompted the Senate Finance Committee to commission the Government Accounting Office (GAO) to analyze how IRA balances could exceed $100 million when the annual contribution limits are so modest.

Parish & Company later provided extensive analysis, commentary and guidance to the GAO and must say that I was thoroughly impressed with the organization’s professionalism. competence and independence.  The following September 9, 2014 Bloomberg story by Margaret Collins and Rich Rubin is based upon the GAO report findings released in early September.

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