Tuesday, January 20, 2009

Has the recession hit the patient?

The impact of recession is experienced by everyone the companies,the consumer,the government and has thus made everyone to scrutinize their spending.So, the pharmaceutical industry can also not eacape from the scrutiny.
So,what has really held criticism is the drug prices and hence the money that comes out from the consumer's pocket."Celgene" has gained media attention in this recessionary period with the launch of its Multi-Myloma Drug "Revlimid,that cost $260 per pill and thus the total expense on one pateint comes about to be $90,000.So.what should the consumer do?
The consumers are more relying on "cutting edge infomation",i.e the analysis data that the prescribed drug will yeild results btter than the exisiting ones and thus comes into play" Outcome based Pharmaceutical pricing.Its ot just the consumer but the govrnement and the third party payors demand effective data analysis to prove the effectiveness of the drug to inform their reimbursement decision making process.

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