176. Pills, Profits, and Power: The Fight to Reform Big Pharma | Vinay Patel, PharmD

In this episode of Medicine Redefined, Darsh and Altamash take a deep dive into the complex world of medications with Dr. Vinay Patel, pharmacist and founder of MakoRx. Dr. Patel exposes the hidden realities behind Big Pharma, explaining why generic drugs can be so confusing and revealing the true factors driving skyrocketing pharmacy prices. We also explore how cutting-edge AI technology is revolutionizing drug discovery and development. This conversation will fundamentally change how you understand the medications you rely on every day. Whether you’re a healthcare professional or simply curious, this episode delivers powerful knowledge and a fresh perspective. Tune in!TIMESTAMPS00:00 Introduction to Medicine Redefined00:36 Meet Vinay Patel: Healthcare Innovator01:04 Understanding PBMs: The Hidden Middlemen02:47 The Evolution of PBMs05:29 Vertical Integration and Its Impact15:52 The Complexities of Drug Pricing26:30 Compounding Pharmacies and GLP-1 Medications34:15 Mark Cuban's Cost Plus Solution37:39 The Dominance of Employer-Based Health Insurance39:46 The Generic vs. Brand Medication Debate40:52 Challenges in Generic Drug Manufacturing45:05 The Role of Pharmacists in Medication Management50:50 Solutions for a Broken Healthcare System53:54 Introduction to Make O Rx58:29 Overcoming Barriers in the Healthcare Market01:01:31 The Future of Pharmaceuticals and AI01:05:54 Key Takeaways for Healthcare Providers01:08:04 Final Thoughts and Contact InformationSOURCES00:19: Price We Pay Book01:35: Pharmacy Benefit Management History03:24: Medical Modernization Act03:53: Affordable Care Act04:13: Vertical Integration04:33: Big Three Control 80% of Prescriptions04:56: 20% of Smaller Companies05:40: Tyson Foods RightWay06:01: Smaller PBMs Gaining Traction07:42: Antitrust enforcement in healthcare08:22: Affordable Care Act and High Deductible Plans09:24: Gag clauses09:58: Trump’s Law to Eliminate Gag Clauses10:39: Elizabeth Warren and Josh Hawley's Bill on PBMs13:25: Clawbacks14:32: Clawback disclosure law14:52: Losing money on drugs15:00: GLP-1 drugs16:27: Info on drug pricing17:05: Insurance companies set drug prices22:01: Article on rebates22:30: Net prices have gone down22:39: List prices have gone up24:21: Deep dive into drug prices in US24:45: US VS Europe drug pricing26:49: US subsidizes the world’s drug prices27:32: History of Ozempic28:31: Current status of Ozempic shortage29:11: Compounding drugs law32:21: Compounding pharmacy creditation34:42: Alliance for pharmacy compounding35:35: Cost plus36:16: NADAC39:27: Number of people on employer health insurance41:35: Bottle of lies56:55: Mako RXDr. Vinay Patel’s contacts:Email:  [email protected]: https://www.linkedin.com/in/vinaypharmd/