A monopsony, sometimes referred to as a buyer's monopoly, is a market condition similar to a monopoly. However, in a monopsony, a large buyer, not a seller, controls a large proportion of the market and drives prices down. A monopsony occurs when a single firm has market power through its factors of production, like self insured employers or companies that buy sick care services directly from a hospital system.
The New York Times recently ran a story indicating that a prominent physician scientist particularly associated with advocacy for vitamin D supplementation may have important conflicts of interest. The case is made that this doctor, an endocrinologist at Boston University, has personally contributed enormously to sales of vitamin D, testing for vitamin D, and even the use of tanning salons through his influence on peers and the public. He has in turn been at the receiving end of very considerable compensation from companies that make and sell supplements, perform tests, or offer tanning beds.
Fear can show up at inappropriate times uninvited and unexpected, like a knock on the door in the middle of the night. We have all felt it. Sometimes, it can stop us from an adventure or getting into trouble. Sometimes, it can prevent us from living up to our potential or considering a new path. Sometimes, it can stop us from taking care of our health.
I had the pleasure of attending two pharmacy conferences over the last two weeks and wow! I couldn’t be more excited about the future. I saw it all, from gene therapy to digital marketing to pick up kiosks. Yes, many are very worried about what’s to come. There’s so many changes in healthcare now-a-days so I can completely understand the fear of the uncertain. But there really is so much to be excited about. I want to share some take-a-ways of some recent experiences.
In a word: yes. In two words: of course. But crossing a street is dangerous to your health. Driving a car or riding a bike is dangerous to your health. So that’s not really very helpful information.
It is back to school season, so let’s start this with a pop quiz:
You might think that screening for breast cancer by mammography is a slam-dunk. It was not the last time I wrote about it; and it is not now.