Prescription Drugs
Findings
The prices of prescription drugs are high in the United States than in any place in the world. The prices of prescription drugs in the recent years have increased drastically. Prescription drugs are important as they ensure citizens live healthier and longer and the increase in prices threatens their accessibility and affordability. This increase in prices have affected majority of the Americans, since around 60% of the population are dependent on prescription drugs to treat chronic and acute conditions, these range from diabetes, heart diseases, arthritis, high blood pressure and depression. The most affected by this inflation of prescription drugs are the elderly. The population of the seniors has been on the increase as the lifespan …show more content…
One of the major limitation is the scope of the research; it only covered one state, the state of Florida and the seniors living there. The number of pharmacies is the US and the seniors in different states is overwhelming and getting all of them, as a representative sample would have been a massive undertaking. Since my goal was to determine effects high prescription drugs have on the elderly, my small sample served the purpose.
The second limitation that I faced is that some pharmacists were not willing to disclose their retail prices. This was a great hindrance to the research for I had to look for other pharmacies in order to get the number of responses I required. At last, I did not get the number of responses I needed and this made my results incomplete. I had not anticipated this limitation after I had assured them that they would remain anonymous it did not work in many instances. The large national discount retailer pharmacy I had selected initially chose not to participate in the research so I had to pick another and I was able to …show more content…
These high prices are because of several factors, which include monopolies in the drug industries hiking prices, companies taking advantage of the patents and statutory exclusivity. From the research it is also clear that the average wholesale prices of drugs is lower, but when the drugs pass through the various intermediaries in the supply chain their prices are hiked these may be as a result of additional operational costs or because of the marketing involved.
These use and application of these findings may contribute to formulation of policies by the government agencies to control the rising drug prices. Here are some of the recommendations to dealing with the current problem of high prices of prescription drugs. The government should allow for importation of drugs to put the monopolies in check. The Food and Drugs Administration should left to import prescription drugs from countries like Canada where the prices are low and her drug industry is comparable to that of the
The prices of prescription drugs are high in the United States than in any place in the world. The prices of prescription drugs in the recent years have increased drastically. Prescription drugs are important as they ensure citizens live healthier and longer and the increase in prices threatens their accessibility and affordability. This increase in prices have affected majority of the Americans, since around 60% of the population are dependent on prescription drugs to treat chronic and acute conditions, these range from diabetes, heart diseases, arthritis, high blood pressure and depression. The most affected by this inflation of prescription drugs are the elderly. The population of the seniors has been on the increase as the lifespan …show more content…
One of the major limitation is the scope of the research; it only covered one state, the state of Florida and the seniors living there. The number of pharmacies is the US and the seniors in different states is overwhelming and getting all of them, as a representative sample would have been a massive undertaking. Since my goal was to determine effects high prescription drugs have on the elderly, my small sample served the purpose.
The second limitation that I faced is that some pharmacists were not willing to disclose their retail prices. This was a great hindrance to the research for I had to look for other pharmacies in order to get the number of responses I required. At last, I did not get the number of responses I needed and this made my results incomplete. I had not anticipated this limitation after I had assured them that they would remain anonymous it did not work in many instances. The large national discount retailer pharmacy I had selected initially chose not to participate in the research so I had to pick another and I was able to …show more content…
These high prices are because of several factors, which include monopolies in the drug industries hiking prices, companies taking advantage of the patents and statutory exclusivity. From the research it is also clear that the average wholesale prices of drugs is lower, but when the drugs pass through the various intermediaries in the supply chain their prices are hiked these may be as a result of additional operational costs or because of the marketing involved.
These use and application of these findings may contribute to formulation of policies by the government agencies to control the rising drug prices. Here are some of the recommendations to dealing with the current problem of high prices of prescription drugs. The government should allow for importation of drugs to put the monopolies in check. The Food and Drugs Administration should left to import prescription drugs from countries like Canada where the prices are low and her drug industry is comparable to that of the