Question

In: Economics

What’s wrong with buying prescription drugs online, especially if the prices are lower? What are the...

What’s wrong with buying prescription drugs online, especially if the prices are lower?

What are the risks and benefits of online pharmacies?

Should online pharmacies require a physician’s prescription?

How do online pharmacies challenge the traditional business model of pharmacies and drug firms?

What are the challenges in regulating online pharmacies?

Who benefits and who loses from online pharmacies?

Solutions

Expert Solution

What’s wrong with buying prescription drugs online, especially if the prices are lower?

Nowadays we as a people are so busy in our lives that time is what we lack even to support our daily and duly chores. We are compelled to save our time, money and energy. In saving these trio we are bound to buy online either the clothes, groceries or the medicines.

To purchase medicines online we need prescription paper by our concerned doctor like we do in our real life. Sometimes we get some coupons to be discounted over the products, sometimes we see lower prices comparatively to the nearby market. This cheap or lower prices lure us to but online. As such, no harm in buying from online stores and websites but while buying, if we see prices lower, we must be careful about the buying of drugs. While studying this as a question came to know some wrongness with the prescription buying online that I am mentioning below in bullets:

  • Though the price is lower, but online pharmacies if came to know that your doctor has written you a prescription without seeing you, the pharmacy may deny you to give by conferring you with a note that your doctor has no basis and this is a clear violation of law.
  • The lower costs in manufacturing and deficient of expensive branding will make other country’s made medicines an alternative with a lure.
  • Generic equivalents will be expensive in the brand name drugs.
  • If prices are lower online pharmacies removes a thickness of a protection provided by trained medical professional with proper diagnosis.
  • Even with prescription, lower prices compel to buy controlled medicines that might land you in legal risks.
  • Online pharmacies and stores with lower prices will not clear with assurances in protection of the consumer’s personal and banking information.
  • Hidden fees are added into the drug prices that are vague in nature.
  • Sometimes, consumer come in the net of unlicensed pharmacies, in the lure of lower prices, that will not guarantee them the quality, safety and legalities of drugs that are buy online.

What are the risks and benefits of online pharmacies?

An online pharmacy is a vendor that sells medicines and drugs legitimately through an internet connection. Internet based pharmacies usually offer better pricing than nearby market or offline stores.

Benefits of online pharmacies:

  1. Greatest benefit of online pharmacy is convenience and simplicity.
  2. Medicines can only be sold after proper registration.
  3. Benefit of lower prices through registration and discount online coupons.
  4. Comfortable purchasing in privacy.
  5. Online innovations and information can increase in knowledge in use of medications and to ameliorate the quality of life.
  6. Prices are uncertain.

Risks of online pharmacies:

  1. If a patient, in lure of lower prices, but drugs from an authorized and illegal website then definitely quality and the guarantee covering the medicine will be null and void.
  2. Providing lower prices website will not safeguard the health of a consumer.
  3. Personal data is unsafe.
  4. Some websites do not provide their full and complete information.
  5. Unlicensed pharmacies may be engaged in dispensing medicines.
  6. Possibility 0f prescription drugs purchased online may be counterfeit, illegal, or unapproved.

Should online pharmacies require a physician’s prescription?

Yes! All legally authorized websites or pharmacies require physician’s prescription as online pharmacies selling prescription drugs directly to the consumers under the guidelines of state that doctor should obtain medical information and perform a physical examination before prescribing medications online.

How do online pharmacies challenge the traditional business model of pharmacies and drug firms?

  • Offline traditional business model is controlled in high manner while online is uncertain and unpredictable.
  • Online purchasing only needs doctor’s signature that will land consumer into the hands of illegal websites.
  • In traditional approach patient has to visit doctor and get fully checked up with a valid prescription while online it is not possible.
  • Online pharmacies may not abide the law and can evade the rules.
  • The traditional supply chain is manufacturer to wholesaler to retailer to the ultimate customer, while online channels of distribution is absent.
  • Traditional online pharmacies place value on consumer protection while online lacks this.

What are the challenges in regulating online pharmacies?

  • Online pharmacies are very hard to regulate. Online pharmacies have their own questionnaire on the basis of which they ask some queries to the patients and reviewed these queries by a qualified doctor that makes this business legal as the doctors have a focus mostly on money.
  • Federal regulation of online pharmacies to ensure adequate protection is a challenge as the online businesses knows the weaknesses of the law.
  • Dangers of access to unregulated medicine and controlled substances.
  • Significant challenges when a case involves illegal activity over the Internet.
  • The cooperation between state and federal government that encourages necessary flexibility to regulate dangerous online entities….

Who benefits and who loses from online pharmacies?

Beneficiaries:

  • Ultimate consumers with a lure of discounts.
  • Manufacturing industries as they absent the channels of distribution.
  • Consumer gets the convenience of time and transportation.

Losers:

  • Final consumer may get counterfeit medicines from illegal website.
  • Federal Government as the online business knows the flaws of evasion of tax.
  • Final consumer as the medicine may be mislabeled or the wrong drug.


Related Solutions

Elasticity of demand for prescription drugs is estimated to be much lower than elasticity of demand...
Elasticity of demand for prescription drugs is estimated to be much lower than elasticity of demand for one particular brand of over-the-counter cough medicine. One reason for this isElasticity of demand for prescription drugs is estimated to be much lower than elasticity of demand for one particular brand of over-the-counter cough medicine. One reason for this is
5.8  What’s wrong? State what is wrong in each of the following scenarios. (a) A parameter...
5.8  What’s wrong? State what is wrong in each of the following scenarios. (a) A parameter describes a sample. (b) Bias and variability are two names for the same thing. (c) Large samples are always better than small samples. (d) A sampling distribution is something generated by a computer.
discuss the relative changes in the health care prices for hospitals, drs dentists and prescription drugs
discuss the relative changes in the health care prices for hospitals, drs dentists and prescription drugs
What's wrong with this way of thinking? "Economists argue that lower prices will result in fewer...
What's wrong with this way of thinking? "Economists argue that lower prices will result in fewer units being supplied. However, there are exceptions to this rule. For example, in 1972 a very simple ten-digit electronic calculator sold for $120.00. By 2000, the price of the same type of calculators had declined to less than $5.00. Yet business firms produced and sold many more calculators in 2000 than they did in 1972. Lower prices did not result in less production or...
Give two examples of poor questionnaire wording, and explain what is wrong with each question. What’s...
Give two examples of poor questionnaire wording, and explain what is wrong with each question. What’s wrong with the following questions? How do you like the flavor of this high-quality Maxwell House coffee? What do you think of the taste and texture of this Sara Lee coffee cake?
why do online stores tend to offer lower prices compared to traditional stores? In other words,...
why do online stores tend to offer lower prices compared to traditional stores? In other words, what business model have the online stores/suppliers follow to enable them to lower the cost and also prices?
You want to raise your markup percentage but your can't raise prices and your vendors won't give you a lower cost. What should you do?
You have the following purchases by itemItem                                  Total Retail             Total CostT-Shirts                        956                          398Caps                              456               219Scarfs                     195                  100Flags                       270                 200Mugs                             211                     100You want to raise your markup percentage but your can't raise prices and your vendors won't give you a lower cost. What should you do?Sell more T-shirts to change the mixSell more flags to change the mixThere is nothing you can do if you can't raise prices...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT