Skip to main content

The Complex Factors that Influence Drug Prices

Pharmaceutical companies typically use a variety of factors to determine the price of their drugs, including: Development and production costs: Pharmaceutical companies invest significant amounts of money into the research, development, and production of new drugs. The cost of these activities, including clinical trials and obtaining regulatory approval, is factored into the price of the drug. Marketing and Distribution Cost: Marketing and distribution costs may also be considered by pharmaceutical companies when determining drug prices. These costs include expenses related to advertising, sales representatives, and distribution networks. Drug Uniqueness: If a drug is the first of its kind or represents a significant improvement over existing treatments, the pharmaceutical company may set a higher price for it. If a drug has many competitors or is like existing treatments, the company may have to set a lower price to remain competitive. Market demand: Companies also consider the dem

Patient Counselling

Patient counselling means the oral communication by the pharmacist of information to the patient or caregiver, in order to ensure proper use of drugs and devices.

A) Upon receipt of a prescription (prescription drug order) and following a review of the patient’s record, a Registered Pharmacist shall personally initiate discussion of matters that will enhance or optimize drug therapy with each patient or care given of such patient. Such discussion shall be in person, whenever practicable or by telephone and shall include appropriate elements of patient counseling. Such elements may include the following:
  • Name and description of the drugs
  • The dosage form, dose, route of administration, and duration of drug therapy
  • Intended use of the drug and expected action
  • Special directions and precautions for the drug
  • Common severe side effects or adverse effects or interactions and therapeutic contraindications that may be encountered, including their avoidance, and the action required if theyoccur ;
  • Techniques for self monitoring drug therapy
  • Proper storage of the drugs
  • Prescription refill information
  • Action to be taken in the event of a missed dose
  • To ensure rational use of drugs
Note : The pharmacist shall not be required to counsel a patient or caregiver when the patient or caregiver refuses such consultations.

B) The pharmacist shall maintain the records pertaining to drugs administered to the patients (drug card) that may be utilized for the evaluation of the drug therapy

C) The pharmacist is authorized (as a Health care professional) to undertake process and outcome research, health promotion and education and provide health information. Also to undertake the Pharmacoepidemiological studies.

Pharmacies providing patient counseling shall have regard to the following:

  • Only Registered pharmacists are involved in counseling.
  • Facilities are provided for confidential conversation and patient confidentiality is maintained.
  • Patient information leaflets are provided.
  • Proper documentation is made.
  • Unnecessary counselling should be avoided.
  • Counselling for Patient’s Benefit: In every consultation, the benefit to the patient is of foremost importance. All registered pharmacists engaged in the case should be frank with the patient and his attendants.
  • Punctuality in counselling: Utmost punctuality should be observed by a registered pharmacist in making themselves available for counselling.

Comments

Post a Comment

Send Distribution/Franchise Query

Name

Email *

Message *

Register your business at

Find pharmaceutical, cosmetics, nutraceutical, ayurveda and alternative medicine's distributors, franchise, suppliers query for free.

If you want to take distribution, franchise or associates with any pharmaceutical, cosmetic or ayush company then you can find it here...

Popular posts from this blog

What are the Schedules under Drug and Cosmetic Act, 1940 & Rules 1945?

Schedules are the set of provisions for classifications of drugs, forms, fees, standards, requirements and regulations related to pharmaceutical, Ayurvedic (including siddha), unani and tibb system of medicines, homeopathy, blood and realted products etc under Drug and Cosmetic Act, 1940 and Rules, 1945. The schedule to the drugs and cosmetics act are Schedule A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y. Drug and cosmetic rules are divided into schedules alphabetically and named also alphabetically like Schedule A, Schedule B etc till Schedule Y. The schedules to the drugs and cosmetics act are important part. Every schedule contains specific information as discussed below. Schedule A:  Schedule A  describes application forms and licenses types. Download Schedule A Pdf Schedule B:  Schedule B  describes Fees for test or analysis by the Central Drugs Laboratories or State Drugs Laboratories. Download Schedule B Pdf Schedule B1: Schedule B1 describes

State Pharmacy Council, Its Constitution and Composition and Functions

State Pharmacy Council: State Pharmacy Council is constituted as per the Pharmacy Act, 1948 & State Pharmacy Rules, 1951. State Pharmacy Council is an authoritative council to regulate Pharmacy Act, 1948 & State Pharmacy Rules, 1951. What is state pharmacy council? State Pharmacy Council means a State Council of Pharmacy constituted under section 19, and includes a Joint State Council of Pharmacy constituted in accordance with an agreement under section 20 under the Pharmacy Act, 1948 & State Pharmacy Rules, 1951. State Pharmacy Council constituted and work under  Pharmacy council of India . Composition of State Pharmacy Council: The State Pharmacy Council consists of the following: i) Six members, elected from amongst themselves by registered pharmacists of the State; ii) Five members, of whom at least three shall be persons possessing a prescribed degree or diploma in pharmacy or pharmaceutical chemistry or registered pharmacists nominated by the State Governme

Pharmacy Chain Stores

Pharmacy retail business is one of the most profitable businesses in healthcare industry . The total Indian retail pharmacy market is growing at an average of 18% per year over the last few years, and is anticipated to grow by even higher numbers in the future. What is a Pharmacy Store? A pharmacy store is retail counter which deals in dispensing and compounding of drugs and medicines.  Pharmacy business in India is regulated through Drug and Cosmetic Act & Rules and there is requirement of  retail drug license  for operating pharmacy and drug store in India. Requirement of pharmacist is necessary for taking retail drug license in India. Pharmacist is a person who is responsible for carry out or supervise all activity of pharmacy or drug store.  Check out:  How to open medical store? What is Chain Pharmacy? When a pharmacy store organization consists of four or more pharmacy stores, it is known as  Pharmacy Chain Stores. In simple word, when an organization or individual set-up/op