Effects of Drug Pricing on Medication Choice A Study with Reference to Drug Prescribing in Chronic Ailments
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Journal of Health Management; 19(3) September 2017Summary: Understanding the prescribers’ perception about drug pricing is an important measure for the pharmaceutical companies to address tough business challenges. Pharmaceutical expenditure is now growing faster than other components of healthcare overheads. The higher drug prices and lack of purchasing power acts as a strong barrier in seeking effective medication in India. An attempt has been made in this article to analyze the physicians’ preferences for drug pricing, particularly for drugs prescribed in chronic ailments. Further, this research provides an outcome of physicians’ perception about higher- and lower-priced drugs.
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Understanding the prescribers’ perception about drug pricing is an important measure for the pharmaceutical companies to address tough business challenges. Pharmaceutical expenditure is now growing faster than other components of healthcare overheads. The higher drug prices and lack of purchasing power acts as a strong barrier in seeking effective medication in India. An attempt has been made in this article to analyze the physicians’ preferences for drug pricing, particularly for drugs prescribed in chronic ailments. Further, this research provides an outcome of physicians’ perception about higher- and lower-priced drugs.
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