Price Tag Confidential Case

The comparison between health care in the United States and health care in Canada has been a continuing debate. America does not have a universal health coverage plan for it's population, while Canadians are privileged to have universal health coverage. Normally a patient will pay twice as much for health coverage in the United States compared to treatment in Canada. This puts the US in first position of having the most expensive health care system on earth. (http://www.yesmagazine.org/issues/health-care-for-all/has-canada-got-the-cure) Most of the population in the United States have no health coverage at all. Compared to Canada, the wait time for elective procedures in the United States is somewhat longer. Many Americans feel the

This paper will compare the healthcare service and healthcare status between Canada and the United States. Canada and the United States have a totally different healthcare system. Many people argued that the United States healthcare system needs some upgrading, while, some people admire Canada’s healthcare system due to the fact that Canada’s healthcare does more for less. Research has shown that Canada spends less of its’ GDP on it’s healthcare yet performs better than the United States.

In Canada the services, medication and hospital fee are controlled by the government, this created a better outcome for the security of the citizen. This regulation can lead to major saving in term of the GDP per capita paid by the government in this regard. The government negotiates drug prices so by doing that prices are more affordable for the people. It’s not necessary the uses of co-pays and deductible, but if any type of charged for any reason this can still be a dissent price by the patient. As result of this Canadian are proud and feel secured by the contribution of the social

Under Canada’s healthcare system, citizens are provided with primary care and medical treatments, as well as easy access to hospitals, clinics, and any other additional medical services. Regardless of annual income, this system allows all Canadian citizens access to medical services without immediate pay. Canada is fortunate to have a free healthcare plan since this necessity comes at a substantial expense for people living in the United States of America. For instance, the Commonwealth Fund's Health Insurance Survey mentions that “80 million people, around 43% of America's working-age adults, did not go to the doctor or access other medical services because of the cost” (Luhby). Evidently, Canada’s healthcare system is notorious in supporting the demands of the population, and creating a healthy and happy society at a manageable cost.

Today, Canada is the only industrialized nation without a national pharmacare plan (“Campaign for a National Drug Plan” 1). Currently, each province has its own pharmacare plan and this creates differences in medication prices across the nation. Price depends on drug efficacy, how commonly the drug is used, and to what extent the provincial government decides to subsidize the drug. Overall, drug coverage in Canada depends on a person’s age, income, and the province they live in. Today, one in ten Canadians cannot afford the medications that their doctors prescribe (“Pharmacare 2020” 2). Their lack of

Healthcare in the United States is extremely different from the rest of the world. Over the years government and political analysts have compared and contrasted the health care systems of the United States to that of Canada’s. Despite being located on the same continent both countries have different ways of delivering health care to its citizens. Canada has a single-payer system that is publicly funded, while the United States has a multi-payer system that relies heavily on privately owned healthcare. This could be due to the differences in how many patients are cared for compared to those in America or it could be just a matter of

The way the Canadian health system and the U.S. health care systems are funded affects the consumers out of pocket share of health care costs. When a Canadian citizen visits

Canada’s system is another great example of the affordability of UHC. According to the World Health Organization, check-ups, medications and surgeries are thirty to sixty percent cheaper in Canada than in the U.S. (Merino 132). Why? Well, Diane Francis, author of the National Post article “LBJ Invented Canada’s Superior Health System”, offers one explanation. Francis argues that in Canada drugs are cheaper because Canadian provinces buy the drugs in bulk through a centralized system, unlike the U.S., which makes the government programs Medicare and Medicaid buy from different sources (Merino 132). Because of the monopoly the Canadian government has on the pharmaceutical industry, the price of drugs can be manipulated by the government, making

The journalist Nadia Kounang further explains the differences between what the U.S pays on drugs and other similar developed countries, in the article Why pharmaceuticals are cheaper abroad. Kounang displays how much American need to pay for Gleevec (cancer medication) which is $6,214 (per month/per customer) whereas in Canada patients only have to pay $1,141 and in the U.K $2,697 (Kounang 1). These prices are the result of different organizations setting different price ranges with drug companies (U.S.A), and these enables American insurance companies to take advantage of it (Kounang 1). While in other countries there are not as many organizations, so this helps to set a deal of a price that benefit both the drug company and consumers (Kounang). Strictly speaking, by having these different medical insurance companies it has made it difficult for patients to afford their medication because there is no singular organization that can set drug price ranges with pharmaceuticals, while in other countries they don’t a variety of different medical insurances which enables the country to provide treatments that its citizens can afford. Thereby, if the government does not fully cooperates with other medical insurances, lowering the cost of medication will be difficult without affecting research and development. And as a result people who can not afford them will still struggle to obtain their required prescriptions.

Canada’s health care system “can be described as a publicly-funded, privately-provided, universal, comprehensive, affordable, single-payer, provincially administered national health care system” (Bernard, 1992, p.103). Health care in Canada is provincial responsibility, with the Canada Health act being a federal legislation (Bernard, 1992, p. 102). Federal budget cuts, has caused various problems within Medicare such as increased waiting times and lack of new technology. Another problem with Medicare is that The Canada Heath Act does not cover expenditures for prescriptions drugs. All these issue has caused individuals to suggest making Medicare privatized. Although, Canada’s health care system consists of shortcomings, our universal

Costs play an important role in setting international prices. Travelers abroad are often surprised to find that goods that are relatively inexpensive at home may carry outrageously higher price tags in other countries. Besides, such price escalation may result from differences in selling strategies or market conditions. In most instances, however, it is simply a result of the higher costs of selling in foreign markets such as the additional costs of modifying and packaging the product, higher shipping and insurance costs, import tariffs and taxes, costs associated with exchange rate fluctuations and higher channel and physical distribution costs. Futhermore, Milo also adopted Promotional Pricing strategy. Selling products is challenging when shelves are lined with similar-quality products, and customers are bombarded with advertising messages. Promotional pricing helps differentiate Milo’s product with its competitor and leverage a potential customer's attention long enough to purchase the Milo products. Promotional pricing involves lowering the price of a product, distributing coupons or offering specials, such as buy-one-get-one-free offers. For example, Milo offer promotional pricing for its product in weekly catalogue to create excitement and a sense of

The Governments are the bulk purchasers of these drugs and the various government regulations determine the price that the pharmaceutical companies can charge. This varies from country to country.

Avon also uses the aspect of global pricing and this is determined by the state in a certain country local market and strategic objectives. This affects the country in the way that the country with the higher price ships the same products from the country with the lower price this making the company to count loss.

Quite often, consumers purchase goods and services based on their perceived need. Upon making the decision that a need is present and a solution is available consumers are more equipped to react to that need. Although previously perceived that consumers will normally accept prices as presented by suppliers that remains to not be the case. Consumers assess and process prices based on past purchases and other psychological process they went through previously such as persuasive marketing strategies, accessibility of the goods or services and possibly information gathered from prior purchasers of a product. There are countless options that are available to consumers. Consumers are then faced with the choice of choosing the product that best fulfills their need at that given point. Consumers who are knowledgeable regarding prices will be aware of the approximated price for products (Zhao, Zhao & Deng, 2015).

Another factor that we need to keep in mind is the cultural and economic realities of these marketplaces and consumers while pricing our products. Let us begin with the pricing for the European Union market Spain. This is a rich market which is centered around good quality and ready to spend the money asked for