10 egregious examples of profiteering & dysfunction in health care

The Lown Institute's 8th annual Shkreli Awards

I am once again happy, but also disgusted, to be a judge for this year’s Lown Institute’s Shkreli Awards. And I will also be a co-host of the live event announcing the awards tomorrow - Tuesday January 7 at 1 pm ET. You can register for the online event here.

(Update: Since this article was first published before the award winners (or losers!) were announced, I have now posted a video of the entire event, below:)

I’m happy to help spread the word about these examples. It’s also an opportunity to point out how each of them came to light through excellent investigative health care journalism. At a time when many news operations are cutting staff and resources while expecting more from everyone on staff, it is encouraging to see that vibrant, vital investigative journalism on health care issues is still thriving.

I’m disgusted and saddened, though, to read and review the examples, which often demonstrate greed, profits prioritized over patient care, non-evidence based medical practices, deception, fraud, malpractice, misinformation, lack of respect for the dying, the dead, and their families…..over and over each year with these “awards.”

They are named after Martin Shkreli, co-founder of hedge fund companies and drug company CEO, who has left a trail of criminal charges, trials, convictions, sentencing, forfeiture of assets, prison time, civil penalties and industry bans.

The archives of the Lown Institute’s Shkreli Awards represent a Wall of Shame. It’s painful to review the eight years of examples. But it is important that the industry, regulators, politicians, health care professionals and patients learn from what has been documented. Previous examples include:

• Patients held against their will, children drugged and abused, at psychiatric hospitals

• Seniors and disabled patients were victims of $2.1 billion genetic cancer test scam

• A state medical board fails to censure physicians for fatal cases of surgical malpractice and reports of sexual assault on patients

• Cancer doctor who hid millions in industry gifts given a “dream job” at cancer drug company

• Chemotherapy delivered to hundreds of patients who did NOT have cancer

If you have the time, join us for the live online event tomorrow. If you miss it, visit the Lown Institute website afterward to read about this year’s award winners and about those who lost lives, money, good health, good health care and more as a result of what happened with the stories you’ll read.