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How prescribing generic medicines can be helpful for patients

As businesses become more socially responsible, the medical and pharmaceutical industry has a responsibility to follow in their footsteps. This is because the nature of business in this sector is supposed to be about saving lives and improving health, alongside the pursuit of profitability. It is therefore the duty of medical practitioners to increase the volume of generic medicines prescribed by them to their patients.

The onus falls on the doctors

Doctors today are suave, savvy, and stylish. They have lifestyles to keep up, and the younger set often has educational loans to pay off. Pharmaceutical companies tap into all of this and put a lot of effort and money into impressing their branded drugs upon doctors. They bring out heavy artillery too. They will have panel discussions at doctor’s conferences, try to buy doctors’ loyalty with incentive trips. And will send their representatives over to promote products, for instance.

Why are generic medicines underprescribed?

 Without beating around the bush, the answer to that is profitability. Pharma giants put millions into the research and development of drugs. When a new drug hits the market, the pharma company finally starts to make up for their tremendous investment. As a result, the government gives them some time to make up their costs. By having a monopoly in the market for several years. Thereafter, the drug becomes a free-for-all. Any pharma company can produce and retail it. It is now a generic medicine.

But obviously, after having enjoyed big profits for so many years while enjoying a full monopoly. These companies do not want to have to share their profits with everyone in the market. To thwart the competition, ‘branded medicines’ are touted to be better than generic medicines.

Without beating around the bush, the answer to that is profitability. Pharma giants put millions into the research and development of drugs. When a new drug hits the market, the pharma company finally starts to make up for their tremendous investment.

Fibs and misconceptions

Educating people about the effectiveness of generic medicines is extremely important. The average consumer might not be privy to its benefits, or might not be able to ask questions like, “What is telehealth?” The onus then falls on doctors and medical practitioners to explain their efficacy, and how they aren’t very different from brand-name drugs.

It is important to note that both branded medicines and generic medicines must subscribe to the same standards for quality, effectiveness, and safety. These standards are government-prescribed and are therefore no different for either type of medicine. The generic medicine has to have the same active ingredient and in the same proportion. At best, they might be allowed a different inactive ingredient. They might look different and might have less attractive packaging in order to maintain their lower pricing. However, their efficacy is the same. They are not permitted — by law — to mess around with proportions of quality.

As a result, the government gives them some time to make up their costs. By having a monopoly in the market for several years.We have often heard stories about a poor person who had to borrow money because a family member was ill. We are often approached by our maids, drivers, or office helpers for financial assistance when someone in the family is sick. However, this need not be the case. Generic medicine can put an end to such situations by making affordable medicine available.

Why must the prescription of these drugs increase?

 Expecting patients who can barely afford a doctor’s fee and sufficient everyday necessities, to pay exorbitant amounts for basics like antibiotics and painkillers is inhuman. Many doctors already offer some amount of free or subsidized consultancy to help out the less fortunate. They could definitely take such efforts to their logical conclusion by prescribing medicines. These patients can afford to buy easily. After all, a free or subsidized consultation alone might not cure the patient. They need to be able to afford the prescribed medication.

We have often heard stories about a poor person who had to borrow money because a family member was ill. We are often approached by our maids, drivers, or office helpers for financial assistance when someone in the family is sick. However, this need not be the case. Generic medicine can put an end to such situations by making affordable medicine available. To put things into perspective, generic medicine can be 85 percent cheaper than branded medicine. But for it to become accepted, myths need to be busted. Doctors and pharmacists — or chemists as we call them in India — do have a fair amount of power in this matter.

Doctors also need to scale up a prescription of generic medicine. In order to aid its proliferation and uptake in the country. Everyone needs to sample it so that. In general, people can breathe a sigh of relief and accept its effectiveness, quality and safety, having tried it for themselves.

You can now get the treatment. Without worrying about the costs involved by using the Bajaj Finserv Digital Health EMI Network Card. The Health EMI Card comes with a pre-approved loan of up to Rs. 4 lakh, and lets you pay your medical bills in convenient monthly installments.

We are often approached by our maids, drivers, or office helpers for financial assistance when someone in the family is sick. However, this need not be the case. Generic medicine can put an end to such situations by making affordable medicine available.

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