Preview

Health Care Reform

Good Essays
Open Document
Open Document
1041 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Health Care Reform
Describing issues of prescription medicine. Prescription medicine affects the health care sector in a profound way. Prescription medicine spending is a concern because of the rise in prescription cost, the aging population, and the advancement of special drugs. The cost increase in prescription drugs exceeds all other growth in other health care categories, including hospital care. Prescription medicine is some cases prevent long-term health care, which assist in a decline of cost in hospital care and surgeries. The 10% share of the health care market that prescription medicine has, although it seems small, continues to have important implications.
Spending issues of prescription medicine have multiple factors involved. The demand for prescription medicine has grown out of control, which leads to the inability for some to afford, especially, the uninsured, and the elderly (Bartholow, 2011).
The abuse of prescription drug is a major issue. Although most people use prescription medicines as prescribed by physicians, doctors, and other clinical authorities, there is an increase of illegal use as well. College students constitute the largest increase of abuse. The abuse of prescriptions has led to sedative, painkillers (narcotics), and stimulants addictions. The ability of online ordering, the connection between pharmacist and physicians, and the increase of doctors writing prescriptions, the overall ability to get drugs have increased these issues (Browser, 2011).
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

You May Also Find These Documents Helpful

  • Powerful Essays

    Unfortunately, standard economic reasoning does not always apply to health care. According to Chernew & Fendrick (2008), “The price of prescription drugs generally exceeds marginal costs” and “when faced with cost sharing consumers reduce consumption of both high-value and low-value services” (p.…

    • 1191 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Undeniably health care is an expensive industry one key factor that is driving inflation is the cost of prescription medication. According to Custer (2016), one of the major factors that increase health care cost inflation in 2015 was the introduction of new medicines, predominantly those treating conditions such as hepatitis C, cancer, and multiple sclerosis (p. 37). Although the cost of medication is a chief reason for inflating cost; instead of producing a large number of brand name drug place a limit on the production of brand name and upsurge the use of generic medication. In the future inflation can be managed by increasing the use of generic drugs to help alleviate the financial strain on a market that is already under financial…

    • 124 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Medical Malpractice Cases

    • 367 Words
    • 2 Pages

    1) Medical advances (new drugs, technologies, services and procedures). Medical advances are responsible for the increased healthcare costs. Patients demand these because they want the best healthcare possible. Physicians want these because they want the best for their patient, want to use cutting edge technologies for their status, for the increased financial reward for using them, and to practice “defensive medicine” (#3 below). With regard to drug trials, a study published in Health Affairs in 2006 estimates that it costs anywhere from $500 million to $2 billion to bring a new drug to market. Those costs must be borne by consumers who use them.…

    • 367 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Bristol- Myers Squibb

    • 2164 Words
    • 9 Pages

    • With the passing of the new Healthcare Reform Bill, the healthcare industry is going to be affected tremendously and the general public is and has been very concerned with the costs of medication.…

    • 2164 Words
    • 9 Pages
    Powerful Essays
  • Better Essays

    Health Care Reform Project

    • 1042 Words
    • 3 Pages

    To afford health care includes prescriptions and any other accrued medical bills. Individuals of working age suffer the most especially those without prescription drug coverage. The people without coverage had to pay almost double the amount of money of someone with coverage just to purchase the prescription drug. Some people had to cut other expenses just to afford their medications. In addition to the difficulties Americans face with prescription drugs, some have even taken drastic measures just to reduce or eliminate medical expenses. For example, individuals are skipping doctor appointments, declining further testing, failing to fill prescriptions, and cutting pills in half in order to maintain (Consumer Report National Research Center, 2012). This problem has been increasing drastically throughout the years and in some cases the patients will fail to follow their medical treatment because…

    • 1042 Words
    • 3 Pages
    Better Essays
  • Satisfactory Essays

    Healthcare Reform

    • 496 Words
    • 2 Pages

    Health care is something that will affect us all and we need to know what is going to happen.…

    • 496 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Health Care Reform

    • 632 Words
    • 3 Pages

    As the elections become closer and closer, the time to decide whom one will support come voting time gets shorter. One of the important aspects that will be a key determinant in the decision of voters is the health insurance reform plans laid out by each of the candidates. It will be this papers goal to breakdown and analyze the reform plans of candidate Barack Obama in his campaign for presidency. Obama’s plans for reform are clear and precise. He cites that the greatest problem with today’s health care system is the rising costs of health care itself which in turn has led to a large number of Americans left without coverage.…

    • 632 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    A serious concern has arisen from the news that prices for pharmaceutical drugs are becoming overpriced. The increase in prices has become too high and has caused countless people to not have the ability to buy the medicine they need. This is a problem. These expensive pharmaceutical drugs have taken over the market as well as bullying their competitors out of business. Due to the competition, demand, and patents, companies have dominated specific drugs. I believe these three effects are making companies that produce the drugs to stop thinking about their patients as a consequence of their own interests. This selfishness affects the public and I believe that there are solutions to help fix this problem so relief can come to the ones in need.…

    • 491 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Factors influencing the increase in medicine expenditure include an increase in the utilisation of member benefits, changes in medicine mix used by the population as well as more expensive therapies (Bester 2009)…

    • 11843 Words
    • 48 Pages
    Powerful Essays
  • Powerful Essays

    Term Paper Otc

    • 947 Words
    • 4 Pages

    The world market for Over The Counter pharmaceutical products was estimated at $51.45 billion dollars in 1995 and was expected to sustain a compound annual growth rate of 7 percent through the year 2004. Among the factors that are driving this growth: more educated consumers taking control of their health care, governments and managed care organizations trying to reduce health care expenditures, and pharmaceutical companies trying to expand the product life cycle of key brands.…

    • 947 Words
    • 4 Pages
    Powerful Essays
  • Satisfactory Essays

    Innovations in the health sciences have resulted in dramatic changes in the ability to treat disease and improve the quality of life. Expenditures on pharmaceuticals have grown faster than other major components of the health care system since the late 1990s. Consequently, the debates on rising health care costs and the development of new medical technologies have focused increasingly on the pharmaceutical industry, which is both a…

    • 374 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    For most American households, paying for health care to include prescription drugs and medical bills has been one of the hardest financial strains out there. According to a report published by (Consumer Reports, 2012), many have cut back on other household expenses or taken potentially dangerous measures with their health to afford their medications. The most affected population is the working-age Americans who do not have prescription drug insurance coverage. More than half of the people who completed the survey requested by Consumer Reports took one or more prescriptions…

    • 812 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Pharmaceutical Industry

    • 1276 Words
    • 6 Pages

    The profitability of the pharmaceutical industry can be best understood by looking at several aspects of its underlying economic structure. First, demand for pharmaceuticals has been strong and has grown for decades. Between 1990 and 2003 there was a 12.5 percent annual increase in spending on prescription drugs in the United States. This growth was driven by favorable demographics. As people grow older, they tend to need and consume more prescription medicines, and the population in most advanced nations has been growing older as the post–World War II babyboom generation ages. Looking forward, projections suggest that spending on prescription drugs will increase at between 10 and 11% annually through till 2013.…

    • 1276 Words
    • 6 Pages
    Better Essays
  • Good Essays

    Marketing Ethics

    • 585 Words
    • 3 Pages

    Marketing by pharmaceutical companies is negatively impacting physicians' prescribing practices, influencing them to prescribe the marketed drugs rather than others which may be cheaper or better for the patient.…

    • 585 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Gsk a Merger Too Far

    • 1158 Words
    • 5 Pages

    Economic: Due to the context of global economic crisis, the main threat for the industry stands in the reluctance of consumers to spend on healthcare. Like most of the sectors, pharmaceutical industry copes with a reduction in its growth, even if the market perspectives are positive. To emphasize: pharmaceutical growth is following the GDP growth.…

    • 1158 Words
    • 5 Pages
    Better Essays