No bargain for taxpayers. That's the finding of a new investigation into how medicare spent hundreds of millions of dollars.
Some prescription drugs have gotten cheaper, but it seems to matter little to Congress or Medicare.
Lawmakers locked in the cost of drugs at 2003 prices, prices that are outdated.
According to investigators at the Health and Human Services Department, Medicare failed to make sure it's getting the best wholesale deal.
The Washington Guardian, our investigative media partner, has been looking into waste and abuse of the government's main health program for seniors.
"Investigators think $334 million might have been wasted over six years between 2005 and 2011 because medicare can't get the right price for its drugs." said Phillip Swarts, of the Washington Guardian.
For waste and abuse, the guardian awards this week's golden hammer to the centers for Medicare and Medicaid services and Congress.
Investigators uncovered the largest single problem. Read about it at; www.washingtonguardian.com