May 9, 2013
In this paper I will discuss Pharmaceutical Research and Manufacturers of America (PhRMA) I will talk about its purpose, scope, design, application, and how they affect the healthcare economy.
The Mission of PhRM is, “To conduct effective advocacy for public policies that encourage discovery of important new medicines for patients by pharmaceutical and biotechnology research companies.” [ (PhRMA Reasearch, Progress, Hope Health Coutcomes Reasearch, 2013) ] PhRMA does extensive research on the different medical treatments from a variety of sources. The research gives the patient as well as the doctors and other healthcare professionals the education to be able to make the best decisions possible with treatments for each different individual as well as the support of the Government in this research.“The economics of medical product development determines how pharmaceutical and biotechnology companies establish their funding priorities. According to industry estimates, it takes an average of $800 million and 10-15 years to develop a new drug, medical device, or biologic and bring it to the market” [ (Resnick, 2003) ] Scope
The overall scope of PhRMA is to do research in improving the quality of healthcare and how to do this. With the ultimate goal being patients receiving health care that is most efficient. Making sure that the research that is done is prioritized by the needs of the patients as well as society as a whole, having the research cover not only specific treatments costs and savings, but the costs of all healthcare treatments as a whole. As well as making sure that all technologies are used appropriately in all of healthcare. Design
The design of PhRMA is to make sure that the research that is done is quality research. The data needs to be sufficient in nature as well as...