Industry experts speculate, strategize on what election means for business and reform

The Wall Street Journal: "Health-care companies see the Republican win as a chance to chip away at aspects of Mr. Obama's health overhaul least favorable to the industry. Insurance companies, drug manufacturers and hospitals say they will press to peel away the law's new taxes on health-care companies, pass tougher medical malpractice curbs and knock down a new board that recommends Medicare spending cuts" (Adamy, 11/3).

Michigan Live: "A Republican tidal wave on election night does not spell death for health-care reform because the crisis is too big to go away. That's the message delivered Wednesday by Allegiance Health to about 150 Jackson business and government leaders who gathered for the hospital's quarterly 'Breakfast With Business' meeting." At the meeting Allegiance officials said the current fee-for-service health care system "creates poor financial incentives and has inherent difficulties for cost containment" and noted an emphasis by the company "on overall health improvement; smarter use of technology; and integrating pre- and post-hospital care with in-patient treatment" (Flory, 11/3).

MarketWatch: "[M]any large employers are pushing for changes and not full repeal. Because health reform is the law of the land, attention to the renewed political turmoil over it often takes a back seat as big employers focus on interpreting and complying with the new rules, experts say" (Gerencher, 11/4).

The Wall Street Journal, in a separate story: "The pharmaceutical industry hopes to hold on to concessions it won from Democrats during their recent brief reign in Congress, while benefiting from antiregulatory sentiment among Republicans who captured the House, industry lobbyists said." During the health bill negotiations, the drug industry promised $80 billion in drug savings if the Democrats would not pursue several options that the industry said would hurt its business, such as importation of cheap drugs from Canada or negotiations on Medicare drug prices. "About half of the savings offered by the drug industry was intended to close a gap, or 'doughnut hole,' in Medicare drug coverage that many seniors face. ...  The industry wants Congress to reauthorize the Prescription Drug User Fee Act, or PDUFA, which allows companies to pay fees to the Food and Drug Administration to accelerate product reviews" (Mundy, 11/3).

In another piece, The Wall Street Journal reports: "The chief of drug maker Eli Lilly & Co. (LLY) said Wednesday he expects the bulk of this year's landmark U.S. health-care overhaul to remain intact despite Tuesday's election victories by anti-overhaul Republicans. But with Republicans taking control of the House of Representatives from the Democrats, Chief Executive John Lechleiter said he will lobby to overturn at least one provision of the overhaul: the creation of an independent payment advisory board, or IPAB, tasked with controlling growth in spending by the Medicare health program for the elderly" (Loftus, 11/3).