The And Its Impact On The Medical Field

Anyone who has purchased prescription medications has probably wondered why they cost so much, and rightfully so. Medication prices in the United States have been on a steady increase for decades, however, prices have been drastically increasing as of recent. Pharmaceutical companies have tried to justify these price increases due to the demand, the high cost of research, and the high costs of development and approval. Notwithstanding, the extent to which the prices have increased is not justifiable. Americans should be against these high medication prices and take action because pharmaceutical companies are taking advantage of our healthcare system in order to capitalize from the sick. In order shed some light on this issue, the magnitude, scope, and consequences of these prices must be examined.

Over the last several years, beginning approximately around 2002 and reaching an all-time impossible high in 2016, prescribed drugs such as EpiPen, a life-saving allergy medication, or Bavencio, a cancer drug approved in March, or even older drugs such as insulin that has been around since 2002, have tripled in prices. Many drugs used for cancer, muscle dystrophy, bladder treatment, and more have prices ranging from $150,000 - $300,000 - a year. The director of health services research for the AARP Public Policy Institute, Leigh Purvis, says: “the simple answer is because there’s nothing stopping them”, referring to these pharmaceutical companies. Unlike many countries, The United States does not regulate drug prices, resulting in drug companies being able to charge whatever price they please. AARP Bulletin stated: “The supply of a newer medicine, however, is controlled entirely by the drug manufacturer that holds the patent rights. That gives the manufacturer a monopoly on the drug for the 20-year life of the patent. During that time, it is free to raise the price as frequently and as much as the market will bear.” AARP - The Ways of Drug Pricing.

Anyone who has purchased prescription medications has probably wondered why they cost so much, and rightfully so. Medication prices in the United States have been on a steady increase for decades, however, prices have been drastically increasing as of recent. Pharmaceutical companies have tried to justify these price increases due to the demand, the high cost of research, and the high costs of development and approval. Notwithstanding, the extent to which the prices have increased is not justifiable. Americans should be against these high medication prices and take action because pharmaceutical companies are taking advantage of our health care system in order to capitalize from the sick. In order shed some light on this issue, we must examine the magnitude, scope, and consequences of these rises in price.

This article is of importance because not only does the former commissioner state the reasons medications are so expensive he proposes solutions to the problem. In his conclusion, McClellan admits the FDA “can and should do a much better job of making safe and innovative drugs more affordable.”(McClellan 2009) That is a large first step to solving the problem that so many Americans

Many people see the drug price increases made by Martin Shkreli of Turing Pharmaceuticals of the toxoplasmosis drug Daraprim by 5000%, or, the EpiPen’s 400% price hikes as being immoral, unnecessary, and just price gouging, but others and I argue that the increases are well justified and really not detrimental to consumers. Dr. Nitin Damle of the American College of Physicians had this to say on the matter to members of congress, “The research, development, regulatory, and payment systems for prescription medication are deeply intertwined, and the pressing issue of drug pricing and payment will require comprehensive efforts not only by Congress,

Merck & Co. Inc. is one of the world’s largest pharmaceutical companies in the world for producers of prescription drugs. Merck had sales of 1.98 billion and net income of 307 million in 1978 and continues to steadily rise. Merck invested hundreds of millions of dollars each year in research and allocate the funds amongst various projects. On average it would take approximately 12 years and 200 million dollars to bring a new drug into the market. Many potential drugs offered little chance of financial returns, as some diseases were so rare that treatment could never be priced high enough for the company to recoup the investment. Congress sought to encourage drug companies to

Through my research I found additional traits in Mr. Graham’s leading which helped make him such an effective CEO. One of these was his ability to understand and accept his own faults and uses that information to help bolster his weak areas with the strengths of his teammates. Friends of Mr. Graham say he was very mindful of his personal flaws and always willing to admit them. Another was, the balance between leading and following which he was able to achieve. He would not step beyond what he felt would be deemed acceptable by his fellow workers. He wanted accountability to his board of directors. He viewed it as a protection and a guide

Once the medication is available to the general population, then there is the hypocrisy that comes with dealing with pharmaceutical companies. Many believe that pharmaceutical companies are in the business of disease management not healing and curing people. Ethically and morally withholding or offering the price of medication at such a high price it is not feasible to general working class individuals in need of the medication. Martin Shkreli, the CEO of Turing Pharmaceuticals (CITED), recently raised the price of Thiola from $1.50 to $30 a pill. Causing many to argue the ethical or moral aptitude of those working at “Big Pharma” and where there interest truly lies? With little to no regulation of profit and cost management those who have the ability to increase medication price, how do we really know what cures are available but beyond our financial

Finally, the increase cost of drugs from pharmaceutical companies are have contributed to the ongoing cost in health care for which the increase in medical technologies are attributed towards. “J.D.Kleinke (2016) reports this medical progress is expensive. In numerous therapeutic areas, better medicines increase costs, at least in the short run; in other areas, better medicines that reduce costs in the short run add costs in the long run. Burton Weisbrod and Craig LaMay summarize this overarching impact of innovation in their observation that “the use of antibiotics to prevent deaths from infections can cause people to live longer and hence to die from heart disease and cancer, which typically entail even greater costs.” Break through drugs

His article called The Good, the Bad, and the Ugly of Exceptional Leadership provides successful tips on how to succeed in the corporate world. He covers characteristics such as communication skills, how to maintain credibility, being yourself, and diplomatic ways to discipline staff members when needed. Johns words are held by experience in the medical field as a manager who holds a masters in Health Care Management along with everyday practices.

Side effects of toxoplasmosis include brain inflammation, headaches, seizures, comatosis, lung infection and many more side effects. The drug Daraprim has been around a long time of 60 years, and is a standard treatment for those who are infected with HIV and other parasitic infections(Pollack, Andrew.). Former hedge fund manager, Martin Shkreli, and his pharmaceutical company known as Turing Pharmaceuticals purchased the drug which was priced at 13.50 per pill(Pollack, Andrew.). What Martin Shkreli did with his purchase of the pill wise hike the price up over 5000% making the pill cost $750 per pill(Pollack, Andrew.). This forces hospitals to use different treatments which are not as effective as the pill Daraprim. Turing Pharmaceuticals is not the only one to manipulate, drug prices in such a manner. Cycloserine, a drug used for tuberculosis, raised the price of its drug from $500 dollars for 30 pills, to $10,800 for 30 pills(Pollack, Andrew.). A California based Pharmaceutical company, Gilead, charged up to $1000 for a new ¨wonder¨ drug called Sovaldi, which treats the lethal Hepatitis-C virus(Pollack, Andrew.). There is a trend of making the most useful drugs cost a ridiculous amount of money; and it is because of financial reasons. According to the U.S Department of Health and Sciences more than 3.2 million people have chronic Hepatitis-C, and drugs like Sovaldi have very little competition, making them able to manipulate

This paper will explore how recent pharmaceutical developments and policy changes have created one significant barrier to cure: high price and cost.

Because pharmaceutical companies have so much power over pricing, they have started to raise prices with no motive other than more profit. In recent years, the industry has seen a steep price increase in drugs. These increases, in some cases, seem inexplicable. Regarding this is the recent example of the EpiPen, a common emergency drug used for patients with severe allergies. In the past, the EpiPen was available to patients for as low as 40 dollars. Now the price is “almost 600 dollars.” (Woodward, Layton) The problem with this is the device has had no fundamentally different changes to it. This means the pharmaceutical company responsible for the EpiPen raised the price for no reason other than more money in the company’s pocket. A

During the fifties it was an ethical as well as a racial problem in the medical field of medicine. Blacks were treated like second class citizens, not people more like things.” The public wards at Hopkins were filled with patients, most of them black and unable to pay their medical bills. David drove Henrietta nearly twenty miles to get there, not because they preferred it, but because it was the only major hospital for miles that treated blacks.”

The medical industry is comprised of hospitals and other institutions that provide goods and services to treat patients with curative, preventive, rehabilitative, and palliative care (Boxall, 2004). It is an industry that for decades has provided us humans with beneficial services when it comes to our health. But, although it is of great value to us, it negatively impacts the environment. Due to the fact, that it uses a vast amount of natural resources (like fossil fuel and water), and produces huge loads of waste. Consequently contributing to the damage of the environment. As it has become more noticeable, that the healthcare industry plays a huge role in negatively impacting the environment, actions