Business Research Applications Paper
January 24, 2011
The health care industry in today’s society is rapidly growing with the advancement of products and services navigating the way. Along with the numerous technological advances, the number of available facilities for individuals to choose between is vast. More often the reputation of the pharmacist on staff, and services available remain as the prominent deciding factors for individuals in choosing a health care institution. Because of recent changes in the area of reimbursement in regard to the Centers for Medicare and Medicaid, recompense is at present based on customer ...view middle of the document...
CVS Caremark has enlists some new experts in social economics and common marketing from University leaders to Study How Consumers are Influenced by Financial Incentives, Education and Communication
As an effort to improve American pharmacy health care, CVS Caremark in March 2010 announced the expansion of their business research for the Behavior Change Research Partnership. This organization will help assist doctors in general to better understanding as to why people choose to follow - or ignore - their prescribed medication regimen, and look for ways to encourage those patients to make effective health care decisions.
CVS Caremark is working with the academic society. Schools such as Dartmouth College’s Tuck School of Business, the Carnegie Mellon University, the University of Pennsylvania’s Medical School and Wharton School of Business for the Behavior Change Research Partnership. CVs Caremark will team up with the research associates to improve the customer awareness with the activities around health tasks by learning the areas of human responsibilities about community marketing and social economics.
The business will identify details of people that go regularly to their doctor’s and select not to fill their original medications and discontinue taking those medicines for treatment and recovery. Any patient who doesn’t adhere to critical chronic medicines are usually recognized as the leading obstacle to improving the community well-being and reason of increasing medical cost.
The organization will pursue to well recognize why customers may select to purchase additional costly brand medicines while they have access to generic medicines that might offer equal or comparable health products.
"This partnership signifies extra step in our determination to study more about how we can be of assistance to patients understanding and that actual pharmacy care can impact broad medical costs," said Dr. Troyen A. Brennan, MD, MPH, Executive Vice President and Chief Medical Officer of CVS Caremark. "Although we identify there are several details people stop taking their medicine - price, obliviousness, side effects and others -- this study will aid us to advice consumers to make the right decision regarding their health," Brennan said.
(CVS, 2010 p.1).
The Behavior Change Research Partnership will be led by a group of expertise like, George Lowenstein of Carnegie Mellon; Punam Anand Keller of Dartmouth University, Tuck School of Business; and Kevin Volpp of the University of Pennsylvania Medical School and The Wharton School of Business.
This newest study initiative balances CVS Caremark's formerly spread its teamwork with researchers from Harvard and Brigham and Women's Hospital to study pharmacy rights facts to well realize patient behavior around medication adherence.
The study is available in medical journals because of people’s non-adherence to essential continuance around medication...