Overview

The sky-rocketing prices of many prescription drugs has various groups in society in an uproar. In theory, prescription drug prices are determined by the forces of supply and demand in the market. But this process of price determination is very complex, involving the interaction of powerful and, perhaps, not-so-powerful parties on both sides of the market. The market power of large, research-based pharmaceutical manufacturers is offset by that of the generic drug producers and large payers for prescription drugs: the insurance companies, governments, and various health care providers (such as hospitals and staffed HMOs). At the retail level, too, there are pressures on various types of retailers -- independent and chain drug stores, mass merchandisers that have pharmacies, and mail order pharmacy services -- that have different degrees of influence on prices they pay to their suppliers, while facing substantial pressure from large payer organisations to reduce retail prices. The pricing of prescription drugs is also of concern more broadly to society as a whole. On the one hand is the ideal goal of insuring quality and affordable health care services to all persons. On the other hand is the need to provide adequate professional and financial incentives to all providers of health care services to ensure their near- and long-term supply. This book examines factors in pricing and possible importation of drugs and medicare coverage.

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9781590339626

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