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NHS FPX 6008 Assessment 2 Needs Analysis for Change

Student Name

Capella University

NHS-FPX 6008 Economics and Decision Making in Health Care

Prof. Name

Date

Introduction

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.

Impact Analysis

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).

Community Ramifications

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.

Ethical and Equitable Solutions

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).

Evidence-Based Strategies

Research Insights

Studies underscore the need for affordable medication options, innovation incentives, and policy frameworks promoting community health (Kakkar, 2021; Kesselheim et al., 2016).

Implementation Plan

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

Kakkar, A. K. (2021). Pharmaceutical price regulation and its impact on drug innovation: mitigating the trade-offs. Expert Opinion on Therapeutic Patents, 31(3), 189–192. https://doi.org/10.1080/13543776.2021.1876029

Kesselheim, A. S., Avorn, J., & Sarpatwari, A. (2016). The High Cost of Prescription Drugs in the United States. JAMA, 316(8), 858. https://doi.org/10.1001/jama.2016.11237

Leighl, N. B., Nirmalakumar, S., Ezeife, D. A., & Gyawali, B. (2021). An Arm and a Leg: The Rising Cost of Cancer Drugs and Impact on Access. American Society of Clinical Oncology Educational Book, 41(41), e1–e12. https://doi.org/10.1200/edbk_100028

NHS FPX 6008 Assessment 2 Needs Analysis for Change

UNODC. (2020). UNODC World Drug Report 2020: Global drug use rising; while COVID-19 has far reaching impact on global drug markets. United Nations : Office on Drugs and Crime. https://www.unodc.org/unodc/press/releases/2020/June/media-advisory—global-launch-of-the-2020-world-drug-report.html

PricewaterhouseCoopers. (2019). Behind the numbers 2019: Healthcare and medical cost trends: PwC. PwC. https://www.pwc.com/us/en/industries/health-industries/library/behind-the-numbers.html

Philipson, T., & Durie, T. (2021). ISSUE BRIEF: THE EVIDENCE BASE ON THE IMPACT OF PRICE CONTROLS ON MEDICAL INNOVATION SEPTEMBER 2021. Retrieved June 10, 2023, from https://cpb-us-w2.wpmucdn.com/voices.uchicago.edu/dist/d/3128/files/2021/08/Issue-Brief-Price-Controls-and-Drug-Innovation-Philipson.pdf

Rajkumar, S. V. (2020). The high cost of prescription drugs: Causes and solutions. Blood Cancer Journal, 10(6). https://doi.org/10.1038/s41408-020-0338-x

Racial Disparities, Prescription Medications, and Promoting Equity. (n.d.). Public Health Post. https://www.publichealthpost.org/viewpoints/racial-disparities-prescription-medications-equity/

NHS FPX 6008 Assessment 2 Needs Analysis for Change