Practices in the Pharmaceutical Industry Essay

Several controversies have been hitting the pharmaceutical industry in the last few years. The larger percentage of the controversies ranges from Medicare fraud to high-priced medications that are marketed by these firms. From the researcher’s point of view, big pharmaceutical corporations are putting huge profits on top of patients, spiraling shammed public relations campaigns and more. Before the recent changes, Medicare CEOs and these companies had been reported to have involved in frauds worth billions of shillings.

The indications are that the costs of the drugs are rising more rapidly than any other thing a patient can pay for. It has been found that medications are the most rapidly increasing part of the patient health care bill. It is argued that most of the patient’s expenditure on drugs has also risen.Practices in the Pharmaceutical Industry Essay

The reason is that the quantities of drugs that are being prescribed have increased. Moreover, the practitioners are prescribing new ineffective drugs that are more expensive than the old effective less costly drugs.

More appalling is the fact that the prices of these consistently prescribed drugs are in a great deal jacked up, in most cases a number of times a year. The discounts as well as other incentives the medical practitioners such as the oncologists are receiving are used as a reason for hiking the prices. The government as well as other researchers has found that these benefits are unwarranted.Practices in the Pharmaceutical Industry Essay