Bending the Pharmacy Cost Curve with Population Health Management
The bigger the company, the more shareholders and more requirements are implemented to yield the fruits. Unfortunately, in today’s pharmacies, the tendency to increase the cost of goods becomes only solid and further on unbreakable. Even a crisis or political conflicts such as war cannot persuade big pharma to change their vision regarding the price policy, so no cost curve can be even considered in the future, or is it still possible?
Any person who lives on the drugs, strange it may sound, spend yearly like thousands of dollars if their coverage does not reimburse the cost. It happens for many reasons, either one’s insurance plan is so weak or one buys medications that are not listed in Drug Benefits. This situation is common within drugs for beauty and of course best-selling sexual health remedies. But, at the same time, if talking about the generic distributions, the prices are pleasant to one’s eye. Continuous discounts, hot deals, special offers are kinda marketing ploys to attract as many customers as possible. However, you cannot even estimate how much money you invest in big pharma.
Imagine, your drug today is dispensed at 1$ per pill, you think wow, the price is so interesting, you should buy one now because it will be more expensive tomorrow. And, while you are almost hooked on the attractive price, simultaneously with you hundreds of people look at the price and click on the order button. As a result, a big pharma only earns and earns.
Despite a popular belief that no one can influence such pharmaceutical corporations, it is not that for real. Of course, many approaches both from individuals, groups of people, and governmental facilities tried to change the price policy. But, the only answer they get is We need to set such prices because they are reasonable and correspond to our need for further researches and manufacturing of new pharmaceutical products.
And, you know what? It may really seem reasonable because they somehow are involved in research of products, and they yearly introduce new vaccinations or drugs that can treat one or another health condition. But, these companies do not think that some people die because they cannot access affordable treatment or their insurance plans cannot cover specialty needs. In the latter case, they are obliged to turn to the compounded pharmacies where authorized personnel compound a unique formula for one’s health condition. And, it may seem so embarrassing because Canada and the USA are very well-known for their quality and choice regarding medications.
However, there is one solution left actively discussed by health care experts, population health management.
Population Health Management: Reality or Myth?
Whenever one surfs the definition of this term, he may be stuck with an understanding of its purposes. Yes, there are so many promising goals that people start hesitating about its relevance. To make it simple for readers, population health management should be defined as a health outcome of a certain society or group of people, and a distribution of health outcomes within certain societies or groups of people. Besides, this term encompasses the analytical use of data collected regarding population health. So, then it should provide government and healthcare facilities with information concerning the residents’ health status, ongoing epidemy, viruses, and other health-related issues.
So, what is the connection between pharma cost and population health management? Actually, it is not so transparent but this management gives at least some understanding to big pharmaceutical corporations how they should focus on prices. For instance, if there are ongoing viruses or regular winter flu, they should directly reduce the prices of related products to treat such conditions. But, it does not always happen like that.
Look, if a person does not receive fast access to pharmaceutical products from online and local pharmacies, he is obliged to visit hospitals and receive care from them. Thus, online pharmacies do not receive direct funds from customers. And, the whole online industry loses a great percentage of income.
Where to Turn to For Affordable Drugs?
Today, people who face low-paying capacity can directly turn to online pharmacies certified and licensed by governments. Accordingly, they do not only provide products at discounted prices but also offer free counseling for anyone who needs support and directions in treatment.
Besides, these distributors accept major insurance plans that can cover the items. Otherwise, you won’t struggle with exorbitant prices because there are none. Thus, if you still expect big pharma to introduce low prices for prescription and OTC drugs, you should not believe much in such changes in the future but have an additional plan to cover your needs in pharma products.