What Will That Cost Me Case Study

The pharmaceutical industry is one of the most powerful and greedy industries in our country, with a goal to make as large a profit as possible, at the expense of the sick.

The rise in drug prices is causing the public to ask why this is so and why there isn’t anything being done, or what the reason could be for sky high prices. Some of the reasons include pharmaceutical companies setting their drug prices

The prices of prescription drugs in the United States are by far the highest in the world. [1] On average, Europeans pay 40% less than Americans for the same medications. [2] Consumers have been resorting to several ways, sometimes putting themselves in harm’s way, to alleviate the burden of high prescription drug costs. Some buy their medications online or cross the borders to neighboring countries so they would be able to afford buying their needed medications. Others have resorted to the illegal act of selling their unused medications in online forums just to recover part of their expenses. Many factors contribute to the increased drug prices in the United States including research and

In 2015, the pharmaceutical industry spent over 27 billion dollars on advertising. The two greatest components of this effort were promotional advertising and free medication sampling, which the pharmaceuticals invested 15.5 and 5.7 billion dollars respectively (“Persuading the Prescribers”). Promotional advertising involves direct contact with health professionals, the most common being extravagant lunch conferences held for physicians and their staff. On the other hand, sampling involves distributing free sample of medications to physicians, who then have a choice of providing these samples to patients. As a result of these methods, the industry has seen revenue around $400 billion with 90% of physicians having a relationship with a drug company (Campbell 2007). Moreover, the prices of prescriptions continue to rise; a copay of a generic drug is $11.72, preferred brand drug is $36.37 and a specialty drug is $58.37 (Coleman and Geneson 2014). Although the profits are immense in the numbers demonstrated above, it is no surprise when pharmaceutical drug companies elevate their prices even more. For instance, recently Turing Pharmaceuticals raised the price of their medication Daraprim from $13.50 to $750. Keep in mind, this medication is used for threatening parasitic infections, aids, and cancer with alternative options currently found to be inefficient (Pollack 2015). Another example of this practice involves cycloserine, a drug used to

Shortages of prescription drugs in the United States are a serious threat to our nation’s health and safety. At first blush, this problem appears fairly simple and straight forward to solve. In reality, there is a complex web of causation with a number of root causes contributing to drug shortages. The aim of this paper is to answer the question: How do we mitigate prescription drug shortages? This discussion is written from the standpoint of advising the current presidential administration how to address this crisis. This essay begins with a discussion regarding the background of the issue. Next, the landscape, including stakeholders in this matter is identified. Following, political, social, economic, and practical factors surrounding

The twenty-first century has seen pharmaceutical companies grow in unprecedented size and strength. Due to the unprecedented growth the larger pharmaceutical companies have gained leverage and power in the prescription drug industry, but they lack innovation to market and they seek ways to help the business continue to increase its profits. The pharmaceutical industry was once ethically sound and was a valuable player in the development of human health. However, overtime with the lack of innovation pharmaceutical companies are becoming an unethical market that exploits patients, doctors and anyone else it can to increase its profitability. With eyes only on profitability this can create a hazard for patients because there

We in America tend to take medications for almost any problem we have, from headaches to gastrointestinal pain, to more serious chronic disorders such as depression and attention deficit disorder. While many of the uses of such medications may be necessary and legitimate, many are not, and due to this fact, many people become dependent on medications, mentally, and or physically. This problem is not simply the fault of the individual; in fact, the blame can also be placed upon the medical community, and the pharmaceutical companies who produce the drugs. How often can one turn on the television to see advertisements for Claritin, Aspirin, Pepto-Bismol, or even Zoloft or Ritalin? The pharmaceutical industry is motivated by monetary

In this essay, federal drug policy, and its correlation with the shortage of drugs in Canada, will be considered. In particular, the disruption of drug supply will be considered, with a specific focus on drug supply within the province of Ontario. A discussion will ensue surrounding drug pricing and policy, and the ways in which these frameworks can ultimately serve to affect the efficacy of medical treatment and the safety of patients. Finally, the paper will focus on the accountability of multiple stakeholders, at both the federal and provincial levels, in terms of supplying medically necessary drugs to Canadians. This analysis will encompass the dominant role played by pharmaceutical actors in Canada. Finally, conclusions will be drawn

With soaring medication prices, many drug manufactures have the aspiration to increase profits, which have the effect of rising drugs cost and concerning for Americans. Fortunately, both Democrats and Republican have illustrated interest in passing Prescription Drug Affordability Act of 2015. Captivatingly, the act will allow Medicare to consult manufacturers and set affordable prices. Many have also requested to allow of purchasing medication from Canada which currently has lower drug cost. Reports often appear in the popular press about American consumers who go to Canada or Mexico to buy their prescription drugs at a fraction of what they would pay in U.S. pharmacies, even though doing so is illegal (1). By contrast, the United States leads

People all over the world, continue to be tendered prescription medication, which in many cases further complicate health issues with its myriad of side effects. In fact, statistics have shown that approximately 100,000 people around the world die as a result of prescription drugs annually (Smith, 2012). On the contrary, according

The rise in costs of prescription medicines affects all sectors of the health care industry, including private insurers, public programs, and patients. Spending on prescription drugs continues to be an important health care concern, particularly in light of rising pharmaceutical costs, the aging population, and increased use of costly specialty drugs. In recent history, increases in prescription drug costs have outpaced other categories of health care spending, rising rapidly throughout the latter half of the 1990s and early 2000s. (Kaiseredu.org, 2012).

Prescription drug prices rose three times faster than inflation in the decade between 1981 and 1991, making the pharmaceutical industry the nation's most profitable business. Prescription drugs even exceeded the rapidly rising inflation rate for all other medical services. They now represent at least 10% of all the medical

In recent years, rising drug prices in the United States raises have impacted patient access to medications, including potentially life-saving medications. It has become extremely difficult for patient to receive medications. The blame is being shifted from insurers, drug manufactures, and the government. Insurers are protesting that specialty drug costs are forcing them to jack up premiums. State Medicaid directors say spiking pharmacy costs are coercing them to make unfortunate coverage trade-offs. From the consumer’s perspective, there is a constant cycle of blame and no actual progress. Fortunately, there are possible solutions the US healthcare can implement to help alleviate rising drug costs; for example, an expedited Abbreviated

In the United States of America, there is prescription drug abuse epidemic that continues to be a growing concern. Prescription drugs cause a large amount of overdoses and result in an abundant amount of deaths each year. A government study conducted shows this epidemic is scarily on the rise, “A recent government study found a 400% increase in prescription drug abuse between 1998 and 2008” (Schreiner 531). The excessive use of prescription drug abuse is leading to nonmedical use of the drugs, and creating addiction. Furthermore society is paying an extreme amount of money in this battle. With this drug abuse on the rise, legislators must create a law preventing doctors and pharmacists from over prescribing prescription medications as well a law to require they both participate in drug monitoring programs to prevent drug abuse. Now is the time that doctors and the pharmaceutical industry must be held accountable for their role in causing one of America’s worst addictions. The over medication of prescription drugs in the United States must be brought to an end by legislators creating laws to stop

A lot of people, particularly the patients who need them, are beginning to wonder why American drug prices are so high. It makes sense why the pharmaceutical companies are selling at the prices they do: they are a business; and they want to, above all else, make a profit. But the real question is: what are all of the