The proposed merger of the pharmacy chain CVS and insurance company Aetna would harm competition, lead to higher drug spending and out-of-pocket spending, and should be blocked, AMA President Barbara L. McAneny, MD, said yesterday in testimony at a California Department of Insurance hearing.
“After very careful consideration over the past months, the AMA has come to the conclusion that this merger would likely substantially lessen competition in many health care markets, to the detriment of patients,” Dr. McAneny said at the hearing called for by California Insurance Commissioner Dave Jones. “The AMA is now convinced that the proposed CVS-Aetna merger should be blocked.”
My latest at AMA Wire. The whole shebang.