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Jul 19, 2019
Drug wastage is defined as the portion of a medication bottle, syringe, or vial that is not given to a patient. Drug wastage has been found to contribute at least an additional two percent cost to total spending across all pharmaceutical lines. There are effects not only on patients due to the cost, but also to insurance companies, hospitals and other healthcare centers, and the patient’s or insured’s employers, especially when it is a smaller company. Nursing Home Drug Waste It should come as no surprise that nursing home residents consume a large amount of prescription drugs. It has been shown that 25%...
Read MoreFiled Under: elder care, healthcare quality, medications, overmedication, polypharmacy, preventive healthcare, too many pills
Jul 12, 2019
The pharmaceutical side of oncology and other specialty drugs is a multi-billion dollar business. This is one of the highest cost segments of pharmaceuticals to patients and insurance companies, and it is one of the highest profit areas for the pharmaceutical companies. In 2016, specialty drugs made up 40% of the $450 billion pharmaceutical market, which translates into $180 billion. This staggering amount of money is bad enough in itself, but what if I told you that some of those medications that make up that $180 billion was being wasted in hospitals and other healthcare centers every single day? How Can...
Read MoreFiled Under: cancer drugs cost, cancer treatments, elder care, Health Management, high-cost drugs, medications, overmedication, polypharmacy, Specialty Drugs, understanding insurance
Jul 5, 2019
Cancer strikes fear in the heart of anyone, no matter what their age. How cancer treatments affect your body can be scary, but it can also have huge financial ramifications for you and your family as well. The treatments given to combat cancer have increased the life expectancy and outcomes for many patients, but this increase comes at a cost many find difficult to bear. The Financial Cost of Treatment Cancer drugs are continually being released and the prices are continually going up. Between 2009 and 2014, the cancer drugs that were launched were priced at $100,000 or more per patient for...
Read MoreFiled Under: cancer drugs cost, cancer treatments, high-cost drugs, insurance coverage, lower medical bills, medications, overmedication, Specialty Drugs
Apr 30, 2019
Opioid Overmedication and DeathsChronic pain is one of the most difficult issues a person can face. Diagnosis with long-term symptoms and side effects such as cancer or degenerative disc disease often lead to increased pain levels over time. This pain can become unbearable either due to intensity or endurance and a person will often look for some type of relief in the form of pain medication. While the dangers of additions are widely known, there is still the possibility for someone to become dependent upon or abuse these medications, particularly those in the opioid family. Because the statistics for overdose...
Read MoreFiled Under: elder care, medications, opioid, overmedication, polypharmacy, too many pills
Apr 16, 2019
Overmedication is a major problem for patients of all ages, but especially for the elderly. Due to the increasing number of medical issues that occur as bodies age, it is natural that more medications are prescribed to to combat the effects of growing older. Most elderly patients take at least 1 prescription, and many take 5 or more. This is can be not only financially draining, but also medically dangerous. However, there are ways to prevent overmedication. 1. Don’t Be Afraid to Ask Questions One of the best ways to keep yourself or your loved one from being overmedicated is...
Read MoreFiled Under: elder care, medications, overmedication, polypharmacy, too many pills
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