The first social problem surrounding the health care system in the United States is the growing problem with pharmaceutical companies. The industry averages a 17% profit margin and it has been booming for decades, but the industry is being heavily led by a core group of companies (Dr. Pratt). “In 1992 the top 10 companies accounted for roughly one-third of global pharmaceutical revenue, after a period of consolidation, by 2001 the top 10 accounted for nearly half.”( Leon-Guerrero, Zentgraf, 172). These companies hold a large majority of the market share and make most of their money off patented drugs. This growing core of companies that are dominating the market are causing more problems rather than solving them. These companies are all about making as much money as they can and it shows through the salaries of the executives of these companies (Dr. Pratt). The pharmaceutical industry should have their number one priority be to the users of their products rather than profit gains.
Pharmacy is a booming field when it comes to medicine, but it certainly has controversial issues such as compounding drugs. While the practice of making drugs customized to a patient seems ethical, there are problems that come along with it. Drug compounding was the norm in the past, but over time consumers began to see issues with it. Drug compounding still occurs to this day because some patients do need medicine specifically tailored to their needs. Compounding has also been the focus of recent disasters, some of which occurred less than two years ago. Whatever side one may take on this issue, it is clear that compounding medicine will be a polarizing issue for years to come.
Miller, R. L., and Cross, F. B. (2013). The legal environment today: Business in its ethical, regulatory, e-commerce, and global setting. (7 ed.). Mason, OH: South-Western Cengage Learning.
Lorna works hard to raise her pharmacy’s profile within Kenora in order to attract new customers. She is constantly scanning the horizon to offer new healthcare services to customers, and implement government compensated services. Lorna’s ongoing challenge is to have her entire team embrace the rapidly changing landscape of pharmacy practise with the confidence to succeed.
Business ethics are complicated, multi-issue problems that are ever changing in our fast-paced world. It is a very complex issue entailing many things from corporate ethics to the ethics of responsibility. Whistle blowing is one result of declining corporate ethics and the decline of ethics has declining corporate ethics and the decline of ethics has led to negative impact on the environment. These complex issues must be addressed or an ever increasing basis in the future.
...., Fraedrich, J. & Ferrell, L. (2013), Business ethics & social responsibility. [OMM640 Custom edition] Mason, OH: Cengage Learning
Royal Pharmaceutical Society of Great Britain. Code of ethics for pharmacists and pharmacy technicians, August 2007.
In current world the medical practitioners faces a lot of ethical dilemmas. According to ASHP foundation forecast, (2016-2020), the dilemmas are brought by technology advancements and shifting pharmaceutical marketplace dynamics. Thus seems there is the theory that explains tension between population healthcare and personal health care and overpricing of the medicine. This is due to lack transparency during the drug pricing decisions and though the united States have commenced investigations with the intentions to intervene, this problem does not seem to end in the near future. This overpricing may prevent all the patients getting the medicines. Pharmacists are also faced with the problem of reconciling advice and protocols on population-based with those on individual patients. Manufacturers and suppliers bear the responsibility to
In conclusion, pharmaceutical companies are extremely edacious and cold-blooded. Their profits numbers in the billion’s range while seniors are struggling to afford their prescribed drugs to survive. The pharmaceutical industry is strongly against Americans getting their prescriptions from Canada. Yet these people cannot help it; they are not financially secure to afford the drugs sold in America. The U.S. Government tries to isolate itself from the problem in order to make money from the taxes of prescriptions. However, almost every other country has some type of control over their pharmaceutical companies’ prices. In the future, with more and more drugs developed, only more and more money is going to be in need by the pharmaceutical industry. So unless something can be done soon, this war on drugs is only going to climb uphill. Yet how could these top-paid personnel understand what it feels like to be unable to afford prescription drugs in order to maintain a healthy body or even to stay alive? If there was an answer to that question, the dilemma of overpriced drugs might have a solution.
...al responsibility. Pharma was selling their product in large quantities even though it was compounding pharmacie. CompCARE encouraged doctors to fax the list of the bogus patients. After the discovery that one of its products seemed to cause heart attacks, they ignored the complaints and still continued to file large orders instead of inspecting on the cause of the problem and to find ways to curb all that.. Their brand name and reputation cannot be recovered by going to their local store and getting another one.
Jennings, M. (2009). Business ethics: Case studies and selected readings (6th ed.). Mason, OH: South-Western Cengage Learning.