Assignment

Discussion assignment & Instructions

Below I need a minimum 100- word initial response to the Assignment question. Then, I need a minimum of 50-word responses to TWO peers per their comments to the question below. Required a minimum of 2 scholarly reference, one is the eBook attached. If you use any outside reference, cite APA format. No plagiarism and 100% original work. Assignment question: What is the role of the pharmaceutical industry in the health care system? Minimum 100- word initial response Peer#1 Minimum of 50 words – Breakthrough medicines and vaccines have played a central role over the year’s unprecedented progress in the treatment of fatal diseases (Williams & Torrens, 2008). Prescription drugs have long been considered a highly cost-effective treatment. Past history, consumer price indexes, a decline in the share of health care spending and recent Pharmaceutical Manufacturers Association studies all indicate that drugs represent an economical form of treatment that can reduce overall health care costs. It is clear that the pharmaceutical industry can play a prominent role in containing costs within the health care delivery system. Research-directed companies can effect economies by developing innovative therapies that replace less effective, older or more costly ones. The federal government has recently provided powerful incentives to foster an expansion of the industry, in addition to enacting legislation to contain public health care costs. During the late 80’s, the research-directed industry had invested close to $4 billion in both basic research and specific product development projects. The largest portion of these funds continues to be devoted to developing superior cardiovascular drugs. The industry is also searching for better ways to define, document and present the cost-effectiveness of its products (Williams & Torrens, 2008).

Reference:

Williams, S. J., & Torrens, P. R. (2008). Introduction to Health Services (Seventh ed.)

Peer#2 Minimum of 50 words- The pharmaceutical industry plays a role in the healthcare system in the research of new

medications along with maintaining the safety of medications. The pharmaceutical industry also plays a part in informational technology for the healthcare system. The pharmaceutical industry is responsible for the employment of thousands of scientists in the discovery of compounded medications to fight diseases and to also ensure that those medications are safe when administered to patients (Williams & Torrens 2008). Pharmaceutical companies also do their best in saving patients financially by offering discount cards for specific medications. The pharmaceutical industry’s main goal within the healthcare system is to develop medications to fight diseases and illnesses in hopes of individuals to live longer and healthier lives.

Reference:

Williams, S. J., & Torrens, P. R. (2008). Introduction to Health Services (Seventh ed.)