Cost Analysis Paper

All fifty States and the District of Columbia cover prescription drugs under the Medicaid Drug Rebate Program, which is authorized by Section 1927 of the Social Security Act (Medicaid.gov, n.d.). What this program does is it entails that a drug manufacturer to enter to or put in affect a national rebate agreement with the Secretary of the Department of Health and Human Services, and in return the state provide Medicaid of most of the manufacturer’s drug. In addition to authorization a national rebate agreement, drug manufacturers are obligated to enter into agreements with two other Federal programs in order to have their drugs covered under Medicaid: a pricing agreement for the Section 340B Drug Pricing Program, administered by the Health Resources and Services Administration, and a master agreement with the Secretary of Veterans Affairs for the Federal Supply Schedule. (Medicaid.gov, n.d.) Another program that came into place a little after Medicaid was the Affordable Care Act put into action on March 23, 2010 by President Barack Obama. Basically what the Affordable Care Act did was expanded medical coverage to everyone, making it a law that everyone must have some kind of insurance. This program is for all tax payers in the United States, but individuals not legally present in the U.S. are excluded from this coverage. The law also exempt those who come into conflict with this

These include hospital stay and the high rate of readmission to hospital for screening and due to complications. Medications for the patients also contribute significantly to diabetes management since the drugs are prescribed for maintenance of the condition and thus need to be taken regularly. Inpatient visits to the hospital is the leading value of cost in the management of the disease (American Diabetes Association, 2013). The people who have diabetes are sicker and weaker when compared to the general population. The cost of their health care spending is also higher than the cost for healthy individuals. On the view of indirect costs due to diabetes, there are several conditions that lead to an increase in expenditure of the patients. For instance, the likelihood of developing disabilities due to complications as a result of diabetes is quite high. The workforce is therefore negatively affected and leads to a decline in the economy of the country. Out of all the deaths reported in the year 2012, the number in which diabetes was named as the primary cause amounted to 30% diabetes (American Diabetes Association, 2012; National Diabetes Statistics Report, 2014; American Diabetes Association, 2013). The premature deaths due to diabetes led to loss of income and loss of productivity in the country. The public therefore needs to be educated to reduce this cost as it is shown that the cost of managing diabetes is reduced when the patient has enough information about the condition. For instance, persons with better glycemic control have low levels of developing complications and report a decrease in visits to a doctor with those with uncontrolled diabetes having to visit the hospital three to eight times more (Handelsman et al.,

In this class, I learned about ICD-10 and CPT codes. ICD-10 is coding of diseases, abnormal findings, or signs and symptoms. CPT is a medical code that used bill medical procedures or services, which tell private or public insurances payer what medical procedures or services the healthcare provider would like to be reimbursed for. I also learned about Medicare, Medicaid and premium insurance coverages. This class was really helpful for me. I will consider patents’ insurance coverage before I prescribe medications or order diagnostic tests in order to provide high-quality care and cost-effective care for patients.

A few key stakeholders include government, physicians, pharmaceutical and insurance companies, nurses and patients. The government plays a significant role in the provision of prescription drug pricing by “establishing

The only thing the government should be involved with is controlling the drug, insurance, and medical industry advertising spending which would bring down costs. I was watching the news and a young lady who had Multiple Sclerosis was prescribed medication that cost $250,000 for a year’s supply and she was fighting with her insurance company to get authorization because of the price they are the only company that makes the drug. Why not open the country to foreign medications? U.S. healthcare reform is only adding

Prescription drugs in the competitive market offers a starting point allusion, which certain characteristics of medications and healthcare goods and services can be compared to unique goods and services. According to Carter, A, Pharm D Healthline.com say’s “By not taking care of your diabetes may damage your heart, kidneys, nervous system, and your eyes”. Such as, eating foods with a high content of sugar will extremely increase your blood sugar, or not taking medication to treat diabetes. He also states “metformin may need to be used with other medications to help regulate your blood sugar. Some patients with type 2 diabetes may have complications with hypertension as well. This leads us into an example of many prescription drugs to treat diseases. Such as, diabetes, and hypertension. According to Younossi, Z. M., et.al. (2013).authors of Alimentary Pharmacology & Therapeutics, wrote “Explanations for metabolic situations that have been used in the study have been formerly described. Briefly, type 2 diabetes was determined as fasting blood sugar level that is greater than 125 mg/dL , and hypertension was determined as blood pressure level that is greater than 140/90 mmHg .” With this being said the supply and demand of medications to treat diabetes and hypertension depends on the prescribing doctor and the incentives provided by the pharmaceutical company.

Type 2 Diabetes is a chronic condition, which can cause an individual to face high expenses (Liebl, Khunti, Orozco-Beltran and Yale, 2015). The majority of diabetics require some sort of medication regimen to control their blood glucose. The use of oral antidiabetic drugs is usually the first choice for type 2 diabetics’ medication regimen. “Diabetic drug cost is small compared to the cost of managing type 2 diabetes complications; for example, in the T2ARDIS

Under special interest theory the justification for governmental intervention to reduce the prices of pharmaceutical agents is weak. Under the special interest theory the average citizen is not a major factor, instead powerful groups fight amongst themselves to use the coercive authority of the government to make rules and regulations that would better help their business objective. The government desire more monopsony power to lower its current prescription drug spending. However, special interest theory states that regulations are designed to benefit the regulated. If the government attempts to control the price of health care and intervene it fundamentally is doing so not to improve the profits of the pharmaceutical industry, but to reduce

“Cost-minimization analysis is mostly applied in the health sector and is a method used to measure and compare the costs of different medical interventions” Springer. Cost minimization analysis is the simplest type of cost analysis. The central focus is that one medical intervention is the same as another, at lower cost. That is the outcomes must be the same.

As the worldwide prevalence of diabetes increase, the demand for and cost of medical care in-crease too. The median annual direct medical costs for subjects with diet-controlled type 2 diabe-tes who are not obese and have no complication were ranging between $1,700 and $2,100.

In an effort to reduce the economic impact of Type 2 Diabetes (T2D) in the United States, as well as to improve the quality of life in patients with T2D, a trillion dollar grant should be distributed amongst five categories with varying monetary allocations as such: 400 billion dollars to prevention and treatment of T2D, 200 billion dollars to the increased social awareness of T2D, 150 billion to the establishment of community health centers in various urban areas, 150 billion to further research on the biological mechanisms underlying insulin resistance in T2D, and the last 100 billion dollars to the development of better in-vitro diagnostic (IVD) monitoring and insulin delivery devices. In 2012, the total estimated cost of diabetes was

After robbing your bank account to pay tuition, high textbook costs add insult to injury. However, solutions to the staggering cost of college textbooks are close to home.

A life cycle cost analysis calculates the total cost of ownership. In a green roof cost analysis multiple criteria is used to analyse the cost over time of a green roof. Blackhurst, Hendrickson, and Matthews’s 2012 model of an average green roof life cycle uses three phases and three impacts. The three phases are materials, construction, and utilization. The three impacts are energy use, greenhouse gas emissions, and stormwater runoff. Blackhurst, Hendrickson, and Matthews did several charts illustrating the different criteria. The first series of charts shows summaries and base impacts of all the criteria. They show the monetary cost as well as the environmental cost. The next series of charts break down each phase and analysis the cost

This method aims to compare two or more treatment alternatives, having equal safety and efficacy. However, it is must that, the two alternatives must be therapeutically equivalent (with the same safety and efficacy). This method is simple and relatively straightforward in which two or more alternatives having same safety and efficacy are selected, their costs are measured, compared, and the alternative with least cost is identified. Therefore, it helps to identify the least costly treatment among the alternatives. As a result, helps to include drug in the formulary, include the drug in health care policies, exclude the drugs with high cost comparatively from the formulary, and to increase the utilization

      Diabetes has been described, by doctors, as a metabolic disease in which the patient has high blood glucose (blood sugar), either because insulin production is inadequate, or because the body 's cells do not respond properly to insulin. The overall management of diabetes for older adults would be the same as management for younger adults. Nutritional management is essential for older adults primarily to control malnutrition and the patient being underweight.  For older adults, diabetes can not only be difficult for their overall health but also can cause financial hardship. I’ll discuss how Medicare and Medicaid help elevate some of the financial burden that