These include: my organization, the employer as my client, the employees of the client as plan participants, the pharmacists dispensing the medications, and the pharmaceutical manufacturers and/or distributors. My job is to develop a plan that is profitable for my organization. I must also develop a plan that is cost-effective for the employer. The employees of the client must find the plan valuable and beneficial in the maintenance of their healthcare. The pharmacists must be compensated fairly for their time, and the pharmaceutical manufacturers and/or distributors must be able to make a profit in an increasingly competitive, rapidly changing industry. Developing a pricing strategy to meet these competing stakeholder needs is challenging and will require looking at each employer's unique pharmaceutical needs to determine the best pricing plan possible.
The MAC pricing strategy meets the needs of my organization, in that it limits our costs and therefore enhances profitability; however, for this type of strategy to meet the needs of both the employer and their employees, AWP needs to be utilized to determine the MAC values. This can be used for both generic and branded pharmaceuticals. In fact, most states, as of 2009, use AWP to determine their MAC values.
For brand drugs with no generic equivalent, reimbursement varies from state to state, but it is usually based on AWP minus 5% to 15%. This formula recognizes that the AWP,
published in the Red Book, is usually higher than the actual cost a pharmacy pays to acquire a pharmaceutical. When a generic pharmaceutical is available, pharmacists often reimbursed...
Usually, both physical and psychological components need to be addressed. Byrd (2001) explains, the function of brain cells (neurons) is affected when a drug is used repeatedly over a long period of time. Each neuron produces and releases chemicals called neurotransmitters. These neurotransmitters can impact the function of the nerve cell, making it produce and release hormones. "The neurotransmitters that have been associated with addiction include serotonin, dopamine, norepinephrine,
Nursing Leadership Health Policy Health Policy Change The health policy change encompasses Medicare Part D. Medicare D. is also referred to as the Medicare prescription drug benefit. It is part of the Medicare program that is purposed to bankroll the cost of prescription drugs together with coverage payments for prescription drugs for Medicare recipients (Centers for Medicare & Medicaid Services, 2016). The proposed policy change with respect to Medicare Part D is
(2003) that examined the access that black and Hispanic Medicare beneficiaries have to prescribe drugs for chronic conditions. Not much has changed in the times since then and taking the findings of the study it can be established that the Black and Hispanic Medicare beneficiaries are subject to medication under use for economic reasons. This is also true for the chronically-ill black and Hispanic beneficiaries, who require constant medication
Drug Courts The Department of Justice of the United States of America, in order to cope with heavy work pressure, had to introduce a separate court for the sole purpose of dealing with criminal offenses committed by drug abusers and drug dependants. This concept has proved to be so successful that other countries of the world, including Australia, are now contemplating the introduction of a separate court for dealing with the
309). The abbreviated approval process authorized by Hatch-Waxman lets generic drug manufacturers use the same clinical data that the original manufacturer used to obtain FDA approval, thereby avoiding these expenses. In this regard, Greene emphasizes that, "Whereas the pioneer drug manufacturer must incur great expense and undergo rigorous scrutiny when it files an new drug application (NDA) to secure FDA approval, a generic manufacturer may file an Abbreviated New Drug
14). Soon, Congress passed the Marijuana Tax Act, which was signed into law in 1937. Like the Harrison Act, the Marijuana Tax Act placed marijuana into the same category as the cocaine and opium drugs. It was now illegal to import marijuana into the United States (McWilliams, 1991). However, this law was ineffective in curbing marijuana use (Brecher, 1986, p. 14). By the early 1940s narcotic addiction had significantly reduced
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now