Prof. Name
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Medication is fundamental to healthcare provision, yet escalating drug costs in the United States are impacting treatment adherence among elderly populations (UNODC, 2020). This issue extends globally, straining healthcare budgets and altering perceptions of medication seeking behavior (Leighl et al., 2021). Affordability concerns compound in nations without universal healthcare, exacerbating out-of-pocket expenses.
Economic Healthcare Challenges
Economic factors not only affect affordability but also strain the healthcare system’s treatment approach and options (PricewaterhouseCoopers, 2019). A needs analysis is imperative to grasp the economic burden’s implications and devise solutions.
Nurses’ Perspective
Elevated drug prices directly affect nurses’ ability to provide care, complicating patient explanations and treatment alternatives (Rajkumar, 2020).
Organizational Impact
Healthcare organizations face budgetary constraints, compromising care quality and development (Leighl et al., 2021).
Rising drug costs reverberate through communities, exacerbating mental health issues and familial stress (Racial Disparities, Prescription Medications, and Promoting Equity, n.d.).
Collegial Effects
Healthcare professionals face increased workload and stress, balancing patient care with affordability challenges.
Socioeconomic Disparities
Universal healthcare and insurance accessibility mitigate financial barriers, promoting equitable access to medication (Hong et al., 2020).
Racial Disparities
Addressing racial disparities in prescription access requires policy interventions and standardized pricing (Chisholm-Burns et al., 2017).
Research Insights
Studies underscore the need for affordable medication options, innovation incentives, and policy frameworks promoting community health (Kakkar, 2021; Kesselheim et al., 2016).
Universal Healthcare
Implementing universal healthcare fosters equal access to medication, irrespective of socioeconomic status.
Insurance Accessibility
Insurance coverage should be universal, with flexible payment options, minimizing underinsurance risks.
Policy Reforms
Government interventions standardize medication pricing and distribution, curbing monopolistic practices.
Pharmaceutical Reforms
Regulatory measures ensure fair pricing practices, stimulating innovation and affordability.
Research and Development
Investment in R&D yields cost-effective alternatives and nutritional interventions.
Conclusion
Elevated drug pricing presents multifaceted challenges, necessitating collaborative efforts and policy reforms to ensure equitable access to medication for all demographics.
References
Chisholm-Burns, M. A., Spivey, C. A., Gatwood, J., Wiss, A., Hohmeier, K., & Erickson, S. R. (2017). Evaluation of racial and socioeconomic disparities in medication pricing and pharmacy access and services. American Journal of Health-System Pharmacy, 74(10), 653–668. https://doi.org/10.2146/ajhp150872
Hong, Y.-R., Hincapie-Castillo, J. M., Xie, Z., Segal, R., & Mainous, A. G. (2020). Socioeconomic and Demographic Characteristics of US Adults Who Purchase Prescription Drugs From Other Countries. JAMA Network Open, 3(6), e208968. https://doi.org/10.1001/jamanetworkopen.2020.8968
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