The Pharmaceutical Industry 's Challenges Essay example

The Pharmaceutical Industry 's Challenges Essay example

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Some of the most critical challenges that the pharmaceutical industry is having to deal with are, keeping up with the innovations, global regulations and guidelines, and problems with reimbursement. Innovations has always been a major challenge within the pharmaceutical industry. In the article, Facing the Industry’s Challenges, Dominic Behan, Ph.D., stated that, “If we are going to address unmet medical needs, we must bring new innovative products to market (Grom, 2013).” The pharmaceutical industry has a tendency to shift towards lesser risk targets because of the importance of the investments of generating products within clinical trials and from there they have to have an approval. This should be addressed by utilizing innovative state-of-the-art equipment and technologies, and knowledge to be able to approach the rarest targets, and by putting into use more advanced strategies immediately during the clinical trial period to evaluate and measure the probability of success.
Christian Behrenbruch, Ph.D., feels like regulations no longer correspond with the way we understand and interpret biology and the way we address medications. He goes along to say that they are encouraged to run highly priced clinical trials that statistically doesn’t even work. Medications are destroyed, considering that it is a result of that. There are outstanding treatments that are available, but it does not get to the patients on account of commercial dynamics that surrounds prescriptions and compensations, for instance, within the radiopharmaceutical industry, Bexxar. Businesses that are similar to biotech companies, have to battle with a whole lot of extra investments to be able to receive the funds and resources to back up their pr...

... middle of paper ... for their patients who have more complicated problems, but making sure that every patient has been seen in a timely and effective manner. Reimbursement models should be modified to better reveal the existences of rural environments. Geographical differences in medical professional reimbursements ought to be decreased. Nowadays, urban facilities are getting paid at a higher rate with Medicare payments compared to rural facilities (Burrows, Suh, and Hamann, 2012). There are some advantages for Nurse Practitioners such as a larger autonomy, greater satisfaction within their jobs, and a reduction in expenses of living and enhanced pay (Nurse Practitioners Fill Primary Care Shortage in Rural Areas, 2014). Also, nurse practitioners who are performing in medically underserved regions are eligible for student loan recompenses from the federal government (Tolbert, 2013).

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