Prescription and Drugs
Over time, utilization of prescription drugs has gained considerable popularity thus reducing cases of hospitalization, surgery and the need for physician and clinical services. This demonstrates the effectiveness of prescription medicine in the treatment of different ailments within the healthcare sector. However, prescription drugs have generated considerable costs for individuals, insurance companies within the private and public sectors and the government (Kaiser Family Foundation, 2010). This is due to the public reliance on the prescription drugs as opposed to alternatives health means.
The high costs associated with prescription drugs emanate from drug manufacturing firms' development processes for new drugs and the patent protection regulations (Moisse, 2011). Drug manufacturers often sell their new drugs at exorbitant prices to cover for development and manufacturing costs for successful projects and unsuccessful drug tests. Additionally, the high prices can be associated with lack of generic drugs that are attributable to the patent protection regulations (Kaiser, 2012).
In response to the high prescription drugs prices, the government, public and private insurers and individuals with lower incomes have adopted various measures. Private insurers have opted on plans that define the costs that the insured ought to remunerate for different drug categories namely non-preferred, generic and preferred (Kaiser, 2012). Medicare has adopted prescription drugs covers with the program seeking ways of progressively sealing the donut hole. Medicaid has been providing prescription drugs for low-income individuals and individuals ailing from HIV/AIDS. However, with the rising prescription drugs reliance, the program offers different copayment schemes for the enrollees (Kaiser Family Foundation, 2010).
Currently, prescription drug coverage is the most imperative health benefits for the general population, considering the rising reliance on these drugs. Therefore, its provision ought to be seized within the current health plans for the government, insurers and other programs that relate to healthcare. The response of healthcare programs to the prescription drug requirements demonstrates the fundamentality of the subject. Although prices will augment, price decline will be anticipated with patent expiries and the entry of generic drugs.