There was an increase in the wholesale prices of drug products in the year 2008. Government also provided benefits to customers related to drugs, which increased prices of healthcare products and services at an unusual rate. With the increase in the number of aging population, and awareness about health consciousness among people, there is an increase in the number of opportunities available in the markets, which facilitate the growth of the industry (Redman, 2011). There is also an increase in the number of customers in the drug retail industry due to offering of drug insurance, which has increased the revenue and contributed to the GDP of the…
Should Medicare be allowed to negotiate drug prices? Is the debate in this case Americans on Medicare have out-of-pocket spending tends that increase with age; in 2010, beneficiaries ages 85 and older spent three times more out-of-pocket on services, on average more than beneficiaries ages 65 to 74 ($5,962 vs. $1,926). With prescription drug costs out of control since the Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) drug cost has rosen to 16.9 percent, the pro to the United States govermment negotiating prescription drug cost they can dictate how much Medicare recipates will pay, how much they will pay how often they will pay , Medicare being the largest purchaser…
The regulatory and legal issues related to drug and pharmaceutical development and sale is very complex. In order for the FDA to approve this drug for sale it must go through a very long lengthy process of it being approved. This long process can be costly and is considered highly risky. To achieve the point where you can sell your drug, the drug company must go through drug discover and testing. This is when thousands of scientists are employed to test the drug and do clinical testing. Once you pass the rigorous process of the FDA guidelines, your drug will then go through post approval safety and marketing. During this process, safety monitoring becomes a big issue. Next is labeling, advertising and promotional claims. Legal issues can occur during clinical testing to when the drug is out for the public to use.…
This source is good because it shows how pharmaceutical companies impact the prescribing process significantly. They do this not only by paying doctors to prescribe and giving free samples of medication for those same doctors to give to patients but by advertising to the patients themselves. Anything can be over sold, even real diseases. Medicine use to cure diseases and now diseases just become more common. “70 percent of the time, if a patient asks for a drug the doctor will give it to them because doctors see their job as a business and their patients as customers”(Bell). If 70 percent of prescriptions are given to patients because the patient wants the medication, how many people are on medications they do not need to be on, and when there…
Prescription drugs are one of the main increasing costs in health care. It has an impact on the population that could not afford prescription drugs, including brand name. The use of generic and OTC (over-the-counter) drugs gave the underprivileged groups in America a better chance for purchase. People believe that the generic form of the drugs do not have the same effect that brand name drugs do. It is a concern that prescription drug addictions rise in the elderly and the younger groups who use for nonmedical reasons. The availability of drugs is one of the causes of abuse. Most people take medicines only…
Pharmacists are vital to the health care industry because it provides medicine. Over time the responsibilities and duties of pharmacists have shifted drastically. The Food and Drug Administration is an agency that monitors and ensures safety of medicines Americans will use. Pharmaceuticals are the most regulated products in the country. The laws pertaining to the shifting roles and increased responsibilities in pharmaceuticals have emerged. The two legislative acts the fuel the power of the FDA is followed significant tragedies. Pharmacists provide care in case of emergencies and now are held responsible for…
The world of today and the Brave New World may be more alike than some would have thought. After reading the book and studying the elements within it, I see one thing that is getting us closer to a society like the Brave New World; drugs. Now some people would say I’m crazy for saying this, that there is no way that people of 2017 are that deep into drugs for me to be comparing us to citizens of the brave new world, but those types of people are ones whose minds are not open to new ideas.…
An issue with the distribution of drugs is that it is more profitable for drug companies to sell the drugs in MEDC’s than LEDC’s. An example of this would be GlaxoSmithKline, as they mainly sell their products in MEDC’s, but in many cases, the countries with…
The prescription system have kept many patients in safe keeping in the past history, and continues to save lives today. Started in the 1900 prescriptions were invented, this was the start where people were able to go to their doctors, and the doctors would prescribe the right drug needed for the patient's condition. The prescription system is great because, it helps patients take the right medicine, and they are able to find out the condition of the patient (Robert 1). Some want to get rid of this system, due to the inconvenience of not being able to get their medicine at the right place at the right time (Cassie 1). While some might want to get rid of the prescription drug system, others would say that the idea would lead to more harm than…
U. S. citizens pay the highest prescription drug prices in the world. This is an injustice that must be corrected. The "U.S. forbids the import of prescription drugs by anyone other than the original U.S. manufacturer, and even then only when the drugs meet all the approval requirements of the U.S. Food and Drug Administration (FDA)" (Barlett & Steele, 2004). Prescription drug prices are outrageously high in the United States because of the influence of advertising on consumer purchasing, the misleading statements by pharmaceutical companies about the cost of research and development of new drugs, the manipulation of patent laws, the antiquated laws regarding importation of drugs, and the influence of the greedy pharmaceutical companies ' lobby on the Federal government. Prescription drug costs in the United States are unreasonably high, and consumers should have the option to save money by purchasing prescription drugs from reputable companies in Canada and the developed world.…
The popular brand name versus the generic battle is a concern in the prescription medicine industry. The uses of brand name drugs have decreased to 20% of total distribution. The expiration of patents of drugs, led to the decrease in brand name distribution. This affects the health care industry in an intense way. This multi-billion dollar industry is affected and patients and physicians must choose whether the generic brand will suffice. Choices by consumer are affected because the cost…
How do you feel about some prescription drugs? Do they harm us while supposed to be helping us with our health problems? Prescription drugs are supposed to treat and cure diseases when some harm and kill us because they are not being used right or they are being used too much. Most drugs are becoming an addiction, and there are more overdoses occurring for over prescription drug use. Pharmeuticals drugs are being used the wrong way and being taken too much when they are not even needed. There are pros and cons of Pharmeuticals drugs and how they affect society today. They should be monitored and people should…
When it comes to the topic of prescription drugs being regulated, most of us will readily agree that this is a big concern for many Americans. Where this argument usually ends, however, is on the question of why do Americans pay some of the highest prices for prescription drugs compared to other countries. Whereas some are convinced that these high costs are set solely for the fact of the amount of money spent on producing these drugs, others maintain that there is an opportunity for medication prices to be regulated and also an opportunity to allow Medicare to negotiate with pharmaceuticals and possibly help bring down those high prices . I agree that prescription drugs should be regulated because there are many people that are victimized…
A pharmacist is a person who is professionally qualified to prepare and dispense medicinal drugs. Pharmacists work in a hospital, clinic or community drug store. Pharmacist duties include constantly studying and learning about the properties and side effects of new drugs and communicating this information to doctors and patients.…
There are over 2,800 different types of prescription drugs that have been through the FDA approval and are currently being used today by patients for treatment of a variety of illnesses. There are three categories of prescription drugs that are most commonly prescribed, Opioids (pain killers), CNS Depressants, and Stimulants. Prescription drugs are more potent than the drugs that are sold over the counter ("Prescription Drugs", 2008-2009). Some of these drugs can be highly addictive and need to be closely monitored by a physician. Abuse of prescription drugs has increased at staggering rates.…