Emerging Issues in the Medical World Essay

Introduction

Drug research is a topical issue that attracts debate because of the various approaches used to mitigate an imminent threat affecting individuals in their immediate environment. Looking at the different issues affecting the modern population and how the medical world responds to problems affecting the public is an essential tactic that can be utilized to improve the nature of relations people have with their peers. Cases of falsified data recorded from clinical trials have sharply increased around the world, creating a benevolent program for a few individuals at the expense of the public. While this is happening, pharmaceutical fraud is widely underreported, exposing a dark web of professionals who have embarked on a mission of defrauding insurance companies, government entities, and the public.

Pharmaceutical Fraud

The healthcare system relies heavily on pharmaceutical research that aims at developing various medicines for conditions diagnosed among patients around the globe. Without performing regular drug research exercises, the healthcare system will not handle the changing problems affecting people’s lifestyles in their immediate environment. Based on the approaches that enhance people’s lifestyles, medical practitioners should understand the significance of their input in the healthcare system. Handling the different needs of individuals exposes medical practitioners to an enabling environment where they can inspire hope to the public (Braham 477). Health programs such as Medicare in the U.S. are usually targeted by fraudsters who anticipate benefiting from the various loopholes that exist within the healthcare system. Understanding the different types of fraud in drug research requires insider information, which captures the exact details of operations taking place in the medical world. When evaluating the consequences of these measures, individuals must be steadfast in their actions that should focus on solving the problem before it can spread to the rest of the world.

Corporations such as GlaxoSmithKline, Pfizer, and Merck have been involved in pharmaceutical fraud, where they were awarded compensation worth billions of dollars from insurance companies. The willingness of the big pharma to take risks and ignore the tenets of ethical drug production is motivated by corporate greed, which clouds the decision-making process of company managers and investors. Some of these fraudulent schemes in drug research include Good Manufacturing Practice (GMP) violations, Best Price Fraud (BPF), and Medicaid Price Reporting (MPR), among others (Turkey – OTC Pharmaceuticals). Depending on the approach used by the big pharma, medical fraud in drug research benefits a section of individuals at the expense of patients who rely on the medicinal products for existence. Currently, whistleblowing is highly encouraged because of the ability of government entities to expose the fraudulent activities overseen by the big pharma with the hope of increasing their revenue and satisfying their corporate greed. 

Relationships in the Medical Industry

The nature of interactions between different players in the medical world is at an all-time low because of the different perspectives held by individuals towards life. For instance, many patients believe that healthcare providers are “bloodsuckers” who exploit their weaknesses to accomplish their various objectives. While there are instances where medical stakeholders, motivated by greed, have made decisions that have affected the rest of individuals, highlighting these changes has posed a series of problems that influence the decisions made in the medical world (United States – OTC Pharmaceuticals). Importantly, corporate greed in the medical world has overshadowed the positive aspects associated with different players because of its impact on the thought process of individuals. Looking at the different approaches that can be exploited in the world today, people are supposed to discover the different roles played by each stakeholder and analyze how they affect patients, who are always on the receiving end. 

Many of the adverse outcomes in the corporate world are influenced by the need to accomplish specific objectives that end up benefitting a few individuals at the expense of the majority. Tiner proposes various standards that can be used to restore trust among the different stakeholders in the medical world (326). Firstly, Tiner indicates that the industry should focus more on direct advertising where the big pharma connects with its target audience and inform them about the benefits associated with certain drugs. Secondly, medical practitioners should forego gifts and any other assortments issued to them by the big pharma or even patients to avoid compromising their ethical standards and values. Thirdly, the study indicates that different stakeholders in the medical world should declare any gifts from various corporations to declare any conflict of interest that might arise from their interactions with other people. Medical practitioners should fund their studies and stop relying on corporate sponsorship because of their ability to weaken the credibility of an individual. Looking at the different outcomes recorded in the medical world, there is a need to focus on the deliverables that should be accomplished using different strategies.

Profit Generation by the Big Pharma

Big pharmaceutical corporations have made significant strides in attracting investors to benefit from the numerous opportunities created by the desire to solve people’s problems. In many instances, the corporations record vast sums of profits as captured in their financial years’ reports that reflect a growing need for individuals to benefit from the ever-increasing need to solve medical problems in the world today. Based on the approaches taken by the big pharmaceutical corporations, the outcomes represent the expectations of individuals that are filled with hope. Importantly, the returns made from their ability to develop innovative solutions capture an intrinsic aspect of information that encourages individuals to invest in their operations. Given the changing needs of individuals, there is a need to focus on issues such as business ethics and values that define the nature of interactions between the big pharmaceuticals and other stakeholders in the business environment.

Infinity Pharmaceuticals is one of the medical corporations that have benefitted immensely from their ability to solve people’s problems. By undertaking various approaches that seek to improve people’s lifestyles, the corporation in its 2019 financial year records demonstrated its profit-making capacity that inspires other organizations in the medical world (Infinity Pharmaceuticals). By incorporating innovative tactics such as big data, big pharmaceutical companies have succeeded in their ability to develop proactive solutions that address the changing needs of individuals. Regardless of the aspects used by individuals to address issues in their surroundings, there is a growing need among medical corporations to develop a people-oriented product that solves their problems. 

Personal Reflection

Pharmaceutical fraud can be controlled using innovative tactics used by government entities to regulate the operations of the medical corporations that violate the set standards of services. While imposing hefty fines and penalties have had an insignificant impact on the nature of outcomes recorded in the business environment, governments should embark on a process of holding the investors and company managers to account for the adverse consequences. Importantly, insurance companies should develop airtight strategies that discourage big pharmaceutical companies from exploiting the loopholes in the medical world (Concert Pharmaceuticals Issues). Aspects such as the sponsorship of medical programs should be discouraged because of their impact on professional credibility and authenticity, especially when interacting with different individuals in the medical world. Attending to patients’ needs should be one of the greatest approaches that can be imposed on individuals and their interactions with other people in their surroundings. Improving the relationship between different investors in the medical environment is an important activity that should be embraced to yield positive outcomes.

I believe fraud in the medical world can be regulated and discouraged because of the government’s role in creating an enabling environment where people are protected from the corporate greed manifested by the big pharmaceutical corporations. When handling problems affecting individuals in their surroundings, various regulators should focus on addressing the pertinent issues affecting consumers in their business environment. Importantly, medical fraud affects the ability of healthcare providers to enable patients in their recovery process. By exposing people to health risks caused by the corporate greed among the big pharmaceuticals, medical practitioners should be steadfast in upholding ethical beliefs and values during their interaction with patients. By ignoring the sponsorship requests from the big pharma, individuals can make independent decisions that resonate with the need to inspire change in the world today.

Conclusion

Pharmaceutical fraud is widely underreported, exposing a dark web of professionals who have embarked on a mission of defrauding insurance companies, government entities, and the public. In many instances, the government fails to act on intelligence about the activities of big pharmaceutical corporations because of the relationship between different stakeholders in the medical world. Although there are instances where one is obliged to focus on the unwarranted activities taking place in the therapeutic environment. With the significant amounts of money awarded to a different drug research program, pharmaceutical companies have been accused of failing to develop proactive measures despite the support accorded to them by various entities. Considering their inability to protect the interests of the people, big pharmaceutical corporations expose individuals to a wide range of health risks that are inspired by their corporate greed. 

Works Cited

“Concert Pharmaceuticals Issues 2019 Financial Results and Reports on Clinical Programs.” Manufacturing Close-Up, 5 Mar. 2020, p. NA. Gale OneFile: Health and Medicine.

“Infinity Pharmaceuticals Posts Full Year 2019 Financial Results and Releases Company Update.” Health & Beauty Close-Up, 10 Mar. 2020, p. NA. Gale OneFile: Health and Medicine.

“Turkey – OTC Pharmaceuticals.” OTC Pharmaceuticals in Turkey, GlobalData Ltd., 2016. Gale OneFile: Health and Medicine

“United States – OTC Pharmaceuticals.” OTC Pharmaceuticals in the United States, GlobalData Ltd., 2015. Gale OneFile: Health and Medicine.

Braham, Diane. “Fraud in drug research.” The Lancet, vol. 340, no. 8817, 1992, p. 477+. Gale OneFile: Health and Medicine.

Tiner, Richard. “Doctors, patients, and the drug industry: partners, friends, or foes? The industry spokesman: current regulation is robust.” British Medical Journal, vol. 338, no. 7690, 7 Feb., 2009, p. 328. Gale OneFile: Health and Medicine.