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Price Signals (price + signal)

Distribution by Scientific Domains

Medical Sciences	50%

Selected Abstracts

Impact of the Minimum Pricing Policy and introduction of brand (generic) substitution into the Pharmaceutical Benefits Scheme in Australia

PHARMACOEPIDEMIOLOGY AND DRUG SAFETY, Issue 4 2001
Peter McManus
Abstract Purpose To describe the effects of introducing the Minimum Pricing Policy (MPP) and generic (brand) substitution in 1990 and 1994 respectively on the dispensing of Pharmaceutical Benefits Scheme (PBS) prescriptions both at the aggregate and individual patient level. Methods The relative proportion of prescriptions with a brand premium and those at benchmark was examined 4 years after introduction of the MPP and again 5 years later after generic substitution by pharmacists was permitted. To determine the impact of a price signal at the individual level, case studies involving a patient tracking methodology were conducted on two drugs (fluoxetine and ranitidine) that received a brand premium. Results From a zero base when the MPP was introduced in 1990, there were 5.4 million prescriptions (17%) dispensed for benchmark products 4 years later in 1994. At this stage generic (brand) substitution by pharmacists was then permitted and the market share of benchmark brands increased to 45% (25.2 million) by 1999. In the patient tracking studies, a significantly lower proportion of patients was still taking the premium brand of fluoxetine 3 months after the introduction of a price signal compared with patients taking paroxetine which did not have a generic competitor. This was also the case for the premium brand of ranitidine when compared to famotidine. The size of the price signal also had a marked effect on dispensing behaviour with the drug with the larger premium (fluoxetine) showing a significantly greater switch away from the premium brand to the benchmark product. Conclusions The introduction in 1990 of the Minimum Pricing Policy without allowing generic substitution had a relatively small impact on the selection of medicines within the Pharmaceutical Benefits Scheme. However the effect of generic substitution at the pharmacist level, which was introduced in December 1994, resulted in a marked increase in the percentage of eligible PBS items dispensed at benchmark. Case studies showed a larger premium resulted in a greater shift of patients from drugs with a brand premium to the benchmark alternative. Copyright © 2001 John Wiley & Sons, Ltd. [source]

Public funding for residential and nursing home care: projection of the potential impact of proposals to change the residential allowance in services for older people

INTERNATIONAL JOURNAL OF GERIATRIC PSYCHIATRY, Issue 3 2003
Paul Clarkson
Abstract Background This paper investigates the potential effects of a policy change in the funding of UK residential care. The White Paper Modernising Social Services (Cm 4169, 1998) outlined plans to change the distribution of the Residential Allowance (RA), payable in support of residents in independent residential or nursing home care, from a component of income support paid direct to establishments to a grant to local authorities. This change was intended to remove the perverse incentive in accessing independent residential care more favourably than local authority care. A further objective was to encourage local authorities to use the grant to support home-based alternatives to residential care. The policy rests on a model in which price signals dictate the choice of care for an older person. By, in effect, raising the price of independent residential and nursing home care, the policy provides an incentive for authorities to seek alternatives to institutional care. Methods Managers from 16 UK social services departments attended a focus group discussion, completed questionnaires and provided information to assist in calculating the potential diversionary effect of the policy. Results Managerial estimates indicated a small diversionary effect of the policy; A potential effect of 0.26 and 0.19 per 1000 older people diverted from residential and nursing care respectively. Conclusions The study indicated that wider organisational factors other than price are likely to play a greater role in deciding whether an older person is admitted to care. Changes in public funding alone do not reflect the complexities involved in decision-making concerning the residential placement of older people. Copyright © 2003 John Wiley & Sons, Ltd. [source]

Access to energy services by the poor in India: Current situation and need for alternative strategies

NATURAL RESOURCES FORUM, Issue 1 2006
V. S. Ailawadi
Abstract Poor and inadequate access to clean, reliable and affordable energy is now considered a major concern for sustainable development. India houses about a third of the world's population without access to electricity and about 40% of those without access to modern energy. This article considers India's challenge in this area, examines the energy access situation, and analyses measures pursued to improve it. The article argues that the current focus on rural electrification is unlikely to resolve the energy access problem, due to the low penetration of electricity in the energy mix of the poor. The article also argues that strategies based on energy market reform, promotion of renewable technologies and correct price signals are unlikely to succeed in changing the situation, as acceptance of this policy prescription is rather low. Instead, a bottom-up, holistic, long-term approach is suggested that integrates energy access with economic development, and relies on selective market intervention, local resources and local governance. [source]

Inflation, Shadow Prices and the EMU: Evidence From Greece

BULLETIN OF ECONOMIC RESEARCH, Issue 3 2004
Efthymios G. Tsionas
C32; C51; D29; O12 Abstract The paper examines whether inflation systematically distorts the informational content of price signals. A shadow cost function is specified, and the deviation of shadow from actual prices is modeled as a function of the level of economy-wide inflation, as well as other conditioning variables like budget deficits and changes in inflation rate. It is found that inflation is associated with significant allocative costs in most Greek manufacturing sectors. Measures of cost gains resulting from Greece's convergence towards the EMU are provided and the policy implications are explored. [source]