How Pharmaceutical Costs Have On The Healthcare System

Over the last two decades, public healthcare spending in Canada continues to increase faster than ever and is continuing to do so. Thus, it makes it harder for governments to finance, and as a result healthcare funding takes up a large share of the government s budget (Canadian Institution for health information, 2012) . Although Canada provides citizens with universal coverage, but both the public and private plans do not guarantee that all of the five principles that Canada’s health system stands by. Consequently, research has shown that pharmaceutical cost is the third cost driver in health expenditures after hospitals and physicians (National Health Expenditure Database, 2013). This paper will explore the effects that pharmaceutical costs have on the healthcare system. To illustrate this, particular areas will be explored such as location, medication and the price control. Moreover, advantages will be discussed as well as potential challenges that accompany with pharmaceut ical costs. Canada s healthcare system known as Medicare, began in 1950s and 1960s. It was built solely on the five principles which are accessibility, universality, comprehensiveness, public administration and portability. Medicare was the one aspect that Canadians enjoyed and took advantage of because of the public funding system. Nations around the globe likewise observed and respected Canada s medicinal services framework too, which makes Canadians proud of what they have. Fast forwarding toShow MoreRelatedStakeholders Are A Big Part Of A Healthcare Organization1481 Words   |  6 Pagesof a healthcare organization. They play a major role in the Healthcare Delivery System that plays a part in the performance and the health of the organization. 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