Consumer Perceptions of Risk and Required Cost Savings for Generic Prescription Drugs

2000 ◽  
Vol 40 (3) ◽  
pp. 378-383 ◽  
Author(s):  
Julie M. Ganther ◽  
David H. Kreling
Keyword(s):  
Prescription Drugs ◽  
Cost Savings ◽  
Consumer Perceptions ◽  
Perceptions Of Risk

Comparison of between-Subjects and within-Subjects Designs in Assessing Perceptions of Risk

1983 ◽  
Vol 53 (2) ◽  
pp. 655-661
Author(s):  
Charles F. Keown
Keyword(s):  
Side Effects ◽  
Prescription Drugs ◽  
Relative Frequency ◽  
Frequency Of Occurrence ◽  
Low Frequencies ◽  
High Frequencies ◽  
Perceptions Of Risk ◽  
Within Subjects

Two groups of subjects rated the risks associated with five hypothetical prescription drugs. Subjects were 329 undergraduates whose average age was 19 yr.; 68% were male and most were single and Caucasian. The drugs differed in terms of the number and the relative frequency of occurrence of their side effects. The within-subjects group rated all five drugs in one task, while the between-subjects group rated only one drug. Within-subjects' ratings were higher than between-subjects' ratings for all five drugs. The within-subjects group appeared to be sensitive to differences in the drug stimuli at both low and high frequencies of occurrence whereas the between-subjects group were not at low frequencies.

Why brand drugs priced higher than generic equivalents

2015 ◽  
Vol 9 (1) ◽  
pp. 3-19 ◽  
Author(s):  
Kathleen Iacocca ◽  
James Sawhill ◽  
Yao Zhao
Keyword(s):  
Prescription Drugs ◽  
Wholesale Price ◽  
Cost Savings ◽  
Brand Names ◽  
Insurance Companies ◽  
Demand Model ◽  
Generic Competition ◽  
Content Type ◽  
Pharmaceutical Manufacturers ◽  
Structural Demand

Purpose – This paper aims to investigate why brand-name drugs are priced higher than their generic equivalents in the US market. The authors hypothesize that some consumers have a preference for brand names, which outweighs the cost savings realized by switching to generics. Consumers may prefer a brand drug because the brand may have a higher perceived quality due to advertising and other promotional activities. Additionally, individuals are habitual in their consumption of prescription drugs, which leads to continued use of the brand in the face of generic competition. Design/methodology/approach – The authors develop a structural demand model and proceed to estimate it using wholesale price and demand data from the years 2000 through 2004. Findings – The results of our analysis reveal that customers have a strong preference for brand drugs. In addition, consumers exhibit high switching costs for prescription drugs. Originality/value – Considering the price and quantity of prescriptions filled each day, determining why brand drugs do not lower their prices to compete with their generic equivalents is an important question. Unfortunately, the existing literature only acknowledges this counter-intuitive business practice, but does not mathematically explain it. The authors address this knowledge gap in literature and provide important insight for all players in this industry including consumers, pharmaceutical manufacturers and health insurance companies.

scholarly journals Pharmacare in Canada: The paediatric perspective

2020 ◽  
Vol 25 (2) ◽  
pp. 113-118 ◽  
Author(s):  
Tom McLaughlin ◽  
Geert ‘t Jong ◽  
Andrea Gilpin ◽  
Charlotte Moore Hepburn
Keyword(s):  
Drug Use ◽  
Prescription Drug ◽  
Prescription Drugs ◽  
Cost Savings ◽  
Children And Youth ◽  
Paediatric Drug ◽  
Prescription Drug Use ◽  
Child Friendly ◽  
Health Canada

Abstract Canada’s drug insurance system is one of the most expensive in the world, yet millions of Canadians still struggle to access necessary medications. As a result, provincial, territorial, and federal governments are considering public pharmacare policy proposals to ensure that all Canadians can access the medications they need. Pharmacare policies offer an opportunity to prioritize children and youth, whose unique drug needs have long been neglected. Prescription drug use is common in this population, with approximately half of Canadian children and youth requiring at least one prescription in any given year. Drug use remains concentrated, however, among those with complex, chronic, and serious diseases. Children and youth rely heavily on compounded and off-label prescription drugs, which impacts safety, efficacy, palatability, and cost. Reimbursement decision-making bodies do not appropriately value the unique benefits of paediatric drugs, including child-friendly formulations, improved quality of life for children and families, and cost-savings outside the healthcare system. Regardless of the pharmacare model ultimately implemented, ensuring universal, comprehensive, and portable prescription drug coverage for all children and youth is essential. To accomplish this, paediatric drug experts should develop a national, evidence-informed formulary of paediatric drugs. Health Canada should also improve processes to make commercial paediatric drugs and child-friendly formulations more available and accessible. The federal government must also support paediatric drug research and development to this end.

Mitigation of Medication Mishaps via Medication Therapy Management

2009 ◽  
Vol 43 (4) ◽  
pp. 611-620 ◽  
Author(s):  
Vanita K Pindolia ◽  
Lesia Stebelsky ◽  
Tanya M Romain ◽  
Lori Luoma ◽  
Sandra N Nowak ◽  
...  
Keyword(s):  
Clinical Outcomes ◽  
Prescription Drugs ◽  
Adverse Drug Events ◽  
Cost Savings ◽  
Management Program ◽  
Medication Therapy Management ◽  
Pharmacy Cost ◽  
Therapy Management ◽  
Medication Therapy ◽  
Therapy Goals

Background: In 2006. the Center for Medicare & Medicaid Services incorporated the requirement for a Medication Therapy Management Program (MTMP) for individuals with Part D coverage to ensure that drug regimens provide optimal therapeutic outcomes through improved medication use, thereby reducing adverse drug events. Objective: To evaluate the effectiveness of an MTMP implemented for Medicare Advantage Prescription Drug members enrolled with Health Alliance Plan (HAP) during 2006 and 2007. Methods: Patient eligibility for MTMP was searched electronically. Clinical pharmacists researched medication histories and adherence and, through telephone contact, ascertained the patients' healthcare goals and needs. A patient-centered pharmacotherapy plan was created and implemented collaboratively with the patient's physician(s). To ensure that therapy goals were met, pharmacists performed follow-up interventions. Clinical outcomes and cost savings were compared for MTMP enrollees versus those declining enrollment. Results: Average enrollment rate for the MTMP was 20% for 2006 and 2007. Nearly 60% of interventions involved changing therapy to improve efficacy and greater than 40% involved changing therapy to improve safety. Analysis of 2006 data revealed an overall improvement in electronically measurable clinical outcomes for MTMP enrollees versus individuals who declined enrollment, including a trend toward improved adherence to drug therapy for heart failure, insulin use, and a significant reduction in gastrointestinal bleeds (p = 0.001). Cost-savings analysis indicated a greater reduction in total prescription per member per month costs ($PMPM) of 17.2% for MTMP enrollees versus a 7% reduction for those who declined MTMP (p = 0.001). Patients who enrolled into the 2006 MTMP also saw a sustained positive effect in lowered $PMPM for prescription drugs in 2007. Conclusions: The HAP MTMP, conducted through telephone contacts, produced positive trends in improving clinical outcomes, reductions in pharmacy costs, and sustained pharmacy cost savings for patients who enrolled in the MTMP compared with patients who declined enrollment.

Internet Privacy and Security: An Examination of Online Retailer Disclosures

2000 ◽  
Vol 19 (1) ◽  
pp. 54-61 ◽  
Author(s):  
Anthony D. Miyazaki ◽  
Ana Fernandez
Keyword(s):  
Federal Trade Commission ◽  
Purchase Intentions ◽  
Consumer Perceptions ◽  
Consumer Information ◽  
The Internet ◽  
Online Retailer ◽  
Privacy And Security ◽  
Internet Privacy ◽  
Product Categories ◽  
Perceptions Of Risk

The Federal Trade Commission has declared the privacy and security of consumer information to be two major issues that stem from the rapid growth in e-commerce, particularly in terms of consumer-related commerce on the Internet. Although prior studies have assessed online retailer responses to privacy and security concerns with respect to retailers’ disclosure of their practices, these studies have been fairly general in their approaches and have not explored the potential for such disclosures to affect consumers. The authors examine online retailer disclosures of various privacy- and security-related practices for 17 product categories. They also compare the prevalence of disclosures to a subset of data from a consumer survey to evaluate potential relationships between online retailer practices and consumer perceptions of risk and purchase intentions across product categories.

Is that authentic or artificial? Understanding consumer perceptions of risk in e-service encounters

2006 ◽  
Vol 16 (2) ◽  
pp. 107-134 ◽  
Author(s):  
Mauricio S. Featherman ◽  
Joseph S. Valacich ◽  
John D. Wells
Keyword(s):  
Consumer Perceptions ◽  
Service Encounters ◽  
Perceptions Of Risk

Application of an image management system in microscopy

1992 ◽  
Vol 50 (2) ◽  
pp. 1052-1053
Author(s):  
Richard S. Chemock
Keyword(s):  
Data Storage ◽  
Cost Savings ◽  
Image Data ◽  
Analytical Techniques ◽  
Operational Mode ◽  
Fine Grained ◽  
Image Recording ◽  
Primary Output ◽  
Capacity Data ◽  
Image Management System

One of the most common tasks in a typical analysis lab is the recording of images. Many analytical techniques (TEM, SEM, and metallography for example) produce images as their primary output. Until recently, the most common method of recording images was by using film. Current PS/2R systems offer very large capacity data storage devices and high resolution displays, making it practical to work with analytical images on PS/2s, thereby sidestepping the traditional film and darkroom steps. This change in operational mode offers many benefits: cost savings, throughput, archiving and searching capabilities as well as direct incorporation of the image data into reports.The conventional way to record images involves film, either sheet film (with its associated wet chemistry) for TEM or PolaroidR film for SEM and light microscopy. Although film is inconvenient, it does have the highest quality of all available image recording techniques. The fine grained film used for TEM has a resolution that would exceed a 4096x4096x16 bit digital image.

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