Abstract
Demand for affordable care is forcing health-care providers to improve their operational efficiency, cost control, and quality of care. Government agencies are responding by taking necessary measures to curb the cost of pharmaceuticals and medical devices such as the Medical Devices Regulations Act (MDRA) of 2006, the Drugs and Cosmetics (Amendment) Bill 2013, and the formation of the Central Drugs Authority (CDA). Recent revisions to drug price control are helping patients by improving affordability but adding to the cost pressures on pharmaceutical companies. For example, the price of Omez (for 15 tablets) has been reduced to INR 48 (US$0.80) from INR 75 (US$1.2). As a result, the profit margins of wholesalers have been reduced to 7.25% from 10%, whereas retailers’ margins reduced to 13.75% from 20%.1 These steps show progress toward affordable care.
| Original language | English (US) |
|---|---|
| Title of host publication | Innovations in Healthcare Management |
| Subtitle of host publication | Cost-Effective and Sustainable Solutions |
| Publisher | Taylor and Francis |
| Pages | 245-260 |
| Number of pages | 16 |
| ISBN (Electronic) | 9781482252101 |
| ISBN (Print) | 9781482252095 |
| DOIs | |
| State | Published - Jan 1 2015 |
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
- General Business, Management and Accounting