Reference no: EM131592559
Using the topic you selected and the outline you followed in assignment, please write a 7-10 page research paper using APA Format.
Your research paper must include an extensive explanation and have a thesis statement. A thesis statement is a strong statement that you can support with evidence.
The research paper should have a abstract, literature review and discussion (body of the paper addressing the issues listed below), recommendation, a well-defined conclusion, and reference pages. You must use at least 5 resources.
Please see the attached template for more information.
In your paper, you must address the following:
An overview of the issue
Why is this issue a concern from a health care economics perspective?
Who are the major parties involved in this issue?
Which market forces have an impact on this issue?
How is demand illustrated in this issue?
How is supply illustrated in this issue?
How has the affordable care act impacted this issue?
How are health disparities demonstrated in this issue?
How has this issue been improved in other global markets?
What is your recommendation for making improvements based on economic principles.
I strongly suggest that, as part of your research, you take advantage of the university's online library link.
There are a wide variety of resources there including many full text papers and articles.
Ask the Librarian for help; they will answer your questions and help you find what you need.
Introduction
Prescription medications account for virtually 10 percent of the total health expenditure in the United States, adding up $263 billion every year.
National and States governments have concentrated on magnificently managing these expenses through a range of approaches.
Thesis statement
The presence of government-protected control rights for drug companies is the leading factor that pushes prescription drug costs higher in the US than any other country in the world. The reason behind these high prices are;
a) Pharmaceutical companies in the US, unlike any other country in the world, set their prices on the drugs.
In 2003, the Republican majority House formed the Medicare drug benefit which stripped the program that protects over 40 million Americans from discussing drug charges. Medicaid, in response, must inclusively cover every other approved drug by the Food and Drug Administration, even if there are a cheaper more efficient drug is on the market.
b) Allowing certain drug from drug companies to the market hence averting generics from the market to reduce costs.
In a determination to encourage innovation, the U.S. has a patent scheme that permits drug industrialists to continue being the only producers. The FDA similarly provides pharmaceutical companies exceptionality for certain products, comprising those that treat persons with different illnesses.
c) FDA does not quickly ratify generic drugs.
Application accumulations at the FDA lead to delays to the generic companies before they can get authorization to produce drugs that are not unproven.
d) Some federal rules prevent the generics companies' abilities to lower the prices of the drugs.
In the U.S, is an obligatory by law for Pharmacists in more than 25 states to get a patient permission before swapping to a generic drug.
In 2006, Medicaid incurred a loss of approximately 19 million dollars for one drug just because pharmacists couldn't get patient accord and Medicaid ought to pay for the higher that drug even nevertheless a low-cost product was obtainable.
Conclusion
Dealing with America's drug charges complications is not and will not be a simple task. Congressional holdup and the supremacy of the pharmaceutical foyer make permitting Medicare to discuss Part D costs an improbable option.
The legislators also have a big role to play in this task, and they must come up with a way to make tighter guidelines and reinforce the inaccuracy adjoining patent fortifications in an exclusive way devoid of alarming innovation.
It is until then the ordinary American citizen will suffer from the high drug prices from this pharmaceutical companies.