Essay on Angiomax Case

Financial incentives play a significant role in how care is provided. The North Ohio Heart Center was found to perform more angioplasties compared to the Cleveland Clinic performing bypass surgeries resulting in different incentive rates (McLaughlin & McLaughlin, 2015). These non-invasive procedures (angioplasties) generated highly profitable incomes for the physicians involved at the North Ohio Heart Center. The physicians perceived these procedures to be a safer option of treatment as opposed to drug treatment or bypass surgery. These decisions impacted patient care by causing more patient visits and more tests being performed generating a cumulative higher reimbursement. These incentives are moving us away from what is best for the patient. Robert Doherty, ACP senior vice president, stated, “we need to move away from the piecemeal approach: how many visits you can generate, how many tests

Most of Apotex’s medications are only available through physician’s prescription (“About Apotex”, 2017). Hence, the price of the medications depends on the dosage and the format and the total cost also includes the chemist’s fees. Since Apotex manufactures medications in different dosages and format, it is important to consult a physician as consumers do not know what dosage they need nor the format of medication. Also, a physician is better able to explain the use and purpose of the medication to consumers and hence, most of Apotex’s medications are not found on the shelves of common retailers.

The next factor to consider is competitive position and healthcare firms can substantially ensure higher quality of care when pricing there products and services at an increased level. Aside from pricing, cost is another major aspect since it can drastically affect a company’s competitive position. A hard investment would involve a MRI device that insurance companies or healthcare organizations could reimburse the office at a higher rate for providing the patients of improved cost-efficient results. As a result, such benefits accrue primarily from savings in drug expenditures, improved utilization of radiology tests, better capture of charges, and decreased billing errors, (Wang et al., 2003). Physician providers are always in competition with the latest and greatest technology, EMR system, and most effective medication for patients.

Looking forward, another interesting option for Canada would be the Group-based profit sharing programs. However their applicability in the short to medium term is unlikely because profit-sharing programs allow hospitals to provide bonuses to physicians based on hospital savings created when physicians coordinate their use of drugs and devices (quantity and market share discounts). That is, the more that a hospital purchases of a particular drug or device from a particular vendor/manufacturer, the more they benefit from quantity and market share discounts. Therefore, adding profit sharing programs to the current FFS system may provide a powerful way to align physician incentives with those of the hospital and of policy-makers. However, little is known about the effect of these programs on patient outcomes, as current regulation in Canada does not allow hospitals to pay physicians in such a manner. (1,2)

Congenital heart disease is a cardiovascular condition resulting from an abnormality in the structure of the heart. The exact time this defect forms is unknown but it is during the fetal development in the womb. Researchers think the defect could be case partially by genetics and medical conditions of the fetus and the parents. If the baby’s mother had rubella, while pregnant or other conditions such as diabetes could have caused the defect. Some medications that were taken by a pregnant mother could also have caused birth defects. An error on chromosome 22 could also have caused the heart defect. Some symptoms that a person may have a congenital heart may not show up until later in life but many children also have the symptoms. Symptoms of a congenital heart defect are abnormal heartbeat, bluish tint to skin, shortness of breath, dizziness or fainting, and swelling of body tissues and organs.

The percent change in spending for heart disease was attributed to a 68.6% increase in cost per treated case and a 30.3% increase in the population treated. Heart disease spending was the largest among 15 medical conditions experiencing the largest rise in spending. Interestingly, the rise in cost per treated hypertension case accounted for 60% of the overall growth in spending for hypertension compared with a 19% rise in treated prevalence of the disease. This was attributed to the emergence of new and more costly antihypertensive drugs. In contrast, 50% of the rise in health care spending for diabetes was a result of a rise in treated prevalence and only 24% was attributed to an increased cost per treated case. The total spending for diabetes increased from $8.6 billion in 1987 to $18.28 billion in 2000. Spending for diabetes will surely rise exponentially in the next 10 years because of the continued increase in prevalence of the population being treated and an increased cost per case as new diabetic drugs enter the pharmacologic armamentarium. The spending for diabetes and the spending for heart disease are obviously intertwined.

When it comes to health care, cost is one of the biggest problems. Something needs to be done in order to make it possible for patients, families, and businesses to be able to afford health care. US does not always spend health care dollars in the most productive way. The cost of cancer treatments alone can cost up to hundreds of thousands of dollars, and the only way to pay for that is to raise the cost of the insurance to the patients. Cost is defined as the “price” of healthcare. The “price” or cost can come from various places such as, the physician’s bill, the cost of prescriptions, as well as what the employers pay to cover their employees. The cost of treatments, emergency room visits, medicines, the cost of newest technology and etc. is what is making our increase in cost rapidly. The rising costs leads to becoming a financial burden to families, even the ones that have health insurance, which can typically result in individuals not receiving the health services that they need.

On the same level from a patient’s perspective, providers are even challenged with increased costs. Even though insurance is becoming more affordable the money, unfortunately has to be recovered utilizing other

Cardiovascular disease is the leading cause of death in the United States and is responsible for 17% of the national health expenditure (Heidenreich et al., 2011). In 1985, cardiovascular disease accounted for 10% of the gross domestic product. However, this number increased to 15% in 2008. Meanwhile, the expenses related to cardiovascular disease have increased

Between 2001 and 2011, the average patient’s out-of-pocket (OOP) cost for brand-name prescriptions rose by more than 80% (Tungol, et al., 2012, p. 691). The increasing OOP costs have contributed to a decrease

3. Payers: Payers may react to the drug unfavorably as it is at a higher cost as compared to other therapies. They may add the drug to the formulary on a tiered system. But they would be more willing to pay for osteoporosis prevention and management rather than the complications that arise from it.

Background: Americans pay the highest prices for prescription drugs in the world. Drug costs increased 12.6 percent last year, more than double the rise in overall medical costs. A new Kaiser Health poll shows that most Americans think prescription drug costs in this country are unreasonable, and that drug companies put profits before people.1 Take the example of albendazole which is broad spectrum anti-parasitic drug. In late 2010, the listed average wholesale price for albendazole was $5.92 per typical daily dose in the United States and less than $1 per typical daily dose overseas. By 2013, the listed typical daily dose price for USA market had increased to $119.58. Medicaid data show that spending on albendazole increased from less than $100,000 per year in 2008, when the average cost was $36.10 per prescription, to more than $7.5 million in 2013, when the average cost was $241.30 per prescription2. Albendazole is a very basic medicine but if we take the case of oncology medicines we are going to realize that oncology drugs have become synonymous with extremely high cost. The average cancer drug price for approximately 1 year of therapy was less than 10,000 per year in 2010 and had increased to $30,000 to $50,000 by 2005. In 2012, 12 of the 13 new drugs approved for cancer indications were priced above $100,000 per year of therapy. With typical out-of-pocket expenses of 20% to 30%, the financial burden would be $20,000 to 30,000 a year, nearly half of the average annual

     In today’s society, people are gaining medical knowledge at quite a fast pace. Treatments, cures, and vaccines for various diseases and disorders are being developed constantly, and yet, coronary disease remains the number one killer in the world.

It is no secret that health care delivery is impacted by economic factors and physicians are face each day with the dilemma of how to enhance their practice bottom-line. However, my practice will be concern with my patients’ choice of treatment. Even, when the use Lucentis would increase my practice profits my approach will be patient choice through educating them regarding both available medicines and have access to both drugs.

activities and tactics such as sampling and sales force promotion [3]. Whether a brand manager is using right promotional tools, whether 4P`s (now 7P`s are considered) are linked to each other and with product strategies for the two main objectives that includes [3]:  To Generate Prescription  Make the product reach the patient They can be said as Product chain and Prescription chain 1.1 The Product Chin This starts from selection of molecules and ends in the hands of patient. This chain is somehow intensive as it starts from the selection of molecules, then molecules are critically screened, after the screening of molecules the source of raw material is identified then the pilot batch manufacturing process starts at this stage pricing strategies and clinical trials are worked out. Once the pilot batch is manufactured then it starts with the commercialization of product, after commercialization product goes to distribution house and then it reaches the retailers. After patient’s diagnosis by doctor, patient purchases that product from retailer [4]. 1.2