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Understanding Medical Identity Theft and ways of preventing it Medical Identity Theft is a common phenomenon in today's situation, where most health records are digitized. Although a lot of precaution goes into the security and protection of these records, Medical Identity Theft is a cause for worry. medicalIdentityTheft The most common types of data that are stolen are Social Security Number (SSN), name and the Medicare number, the most potent tools with which to impersonate and manipulate data. Why do crooks steal medical data? Medical Identity Theft happens mainly because hackers and mischief-makers access protected data to lay hands on confidential information about patients, using which they obtain medical care on behalf of the person/s whose records they steal or purchase expensive medicines. In many cases, a Medical Identity Theft is detected only after one gets a bill for a purchase or service that was never made. medicalIdentityTheft Medical Identity Theft is also committed to buy drugs and obtain fake bills that are then submitted to Medicare in the name of the original holder of the medical record. These acts can significantly dent a person's credit rating. More importantly, when wrong information or fictitious diagnosis is made into the medical record, it can lead to dangerous consequences. Ways of protection of medical data The Office of the Inspector General (OIG), which comes under Health and Human Services (HHS), realizing the gravity of the problem of Medical Identity Theft, has formulated the "3D" approach to protect medical data and prevent Medical Identity Theft. These are: Deter: One of the ways of protecting medical data is to prevent Medical Identity Theft. Users should be cautious about parting with information to anyone who claims, over phone, to have a new scheme whose enrolment requires the Social Security Number. Detect:Many fraudsters accost people at accessible public places to announce supposedly "new" medical schemes. Governm

Pharmaceutical drug prices are rising and contribute significantly to total health expenditure worldwide. Since 2014, prescription drug prices have increased by 33%. In 2020, global spending on prescription drugs is expected to be US$ 1.3 trillion. Increasing drug prices and consumer spending on prescription drugs are increasing the demand for the pharmacy benefit management system. The system is operated by third-party administrators who act as a link between drug manufacturers, insurance providers, and pharmacists. The system assists in reducing drug prices by negotiating with drug manufacturers and retail pharmacies. Those who are enrolled in various health schemes and those without insurance can get the benefit of the pharmacy benefit management system. The system provides medicines at a lower price than those available at retail pharmacies. To reduce rising health expenses, Japan planned to start reviewing drug prices every year instead of every two years. The move reflects growing resistance to rising drug prices worldwide. In Europe, different approaches have been implemented to regulate drug prices. In Germany, manufacturers can freely set the prices of newly developed drugs during their first year on the market. Benefit assessments are done during this year and then used in price negotiations between manufacturers and the country's representatives of statutory health insurers. Read more @ https://coherentmarketinsights-cmi.blogspot.com/2020/12/pharmacy-benefit-management-is-integral.html

Advanced Therapy Medicinal Products (ATMPs) offer a real and tangible hope for many different chronic illnesses for which there currently are no or limited therapeutic options. The science and technology that support these products are developing rapidly and therefore the products that are on the market today will undoubtedly continue to improve and grow in effectiveness and capability over time. Patients around the world are now beginning to experience the benefits of these improved products. One such product is Stem Cell Therapy, which uses stem cells from healthy cells taken from the patient's own body. High prevalence of Alzheimer's disease is expected to propel growth of the advanced therapy medicinal products market. For instance, According to the data from Alzheimer's Association, around 5.7 million people in the U.S. were suffering from Alzheimer's disease in 2018. Moreover, increasing adoption of gene therapy is also expected to aid in growth of the market. For instance, in March 2020, AVROBIO, Inc., a clinical-stage gene therapy company, announced that a second patient in the AVR-RD-04 Phase 1/2 clinical trial in cystinosis has been enrolled and has completed apheresis. Read more @ https://coherentmarketinsights-blog.blogspot.com/2020/12/high-prevalence-of-alzheimers-disease.html

National Digital Health Mission​, this ambitious mission is a move forward in strengthening the Indian health infrastructure lacking patient records and health. The government's proposal, now put up for public review, focuses on necessary data privacy measures that need to be put in place in order to safeguard the confidentiality of sensitive health information of citizens. Announced by the Prime Minister, the mission aims to "voluntarily" give every Indian citizen a unique health ID which will serve as a digital repository containing all their health data as well as provide an ​enrolment of​ doctors and health facilities. For more details read the blog completely

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