Prescriptions Skyrocket Case Analysis

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Supplementary insurance should not be mandated to Ontario residents. Supplemental insurance is to be voluntary. The rise in prescription drugs increases the attractiveness of opting for mandating insurance. Mandating insurance leaves room for price reductions for some, but not all. This brief sheds light on confidential drug negotions concerning consumers high price that is given to a questionable system.
Transparency should be the forward pushing factor. Some reform into the already existing health care system will be vital to not having mandated extra coverage. By improving basic and universal care to Ontario residents, this can ensure rate reduction in overall health expenditures.This will allow consumers to opt in to insurance that is
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However, prescriptions drugs has seen a steady cost increase. Not only in out of pocket care but also total health expenditures. In 2015 fourty-two percent of prescribed drug spending is expected to have been financed by the public sector in comparison twenty-two percent is covered out of pocket by Canadians. Fortunately in recent years the trend of prescription drug spending has slowed. The lower growth rate is in part to patent expirations and implementations of generic pricing policies.
As Patents are expiring, innovative and new drugs will surface to the market once again, skyrocketing the cost of prescriptions. This market of fluctuating costs shows the attractiveness in mandating supplemental health insurance. In order to buffer residents from overly unaffordable new treatments that may be necessary for one’s livelihood. Other alternatives should be considered before handing the reins over to our employers and privately paid for insurers, who may not have the consumers best interest at heart.
B: CIHI Data
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Families and individuals saved on average three to ten dollars on non-drug spending products for each additional dollar spent on prescriptions. With a total potential net savings of $7,800 per patient in a given year. Although this is data sets provided on America’s health care system, it opens the door to Canadians about adherence rates and there overall savings benefits. Adherence to medication is important, but the number one reason for non-adherence stems from out of pocket expenses. This had led 1 in 10 Canadians to nit fill a prescription, yet alone adhere to a regiment. It comes back to the importance of insurance coverage. Other factors in contribution range from already poor health, low income,and being under the age of
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