Affordability is a major concern when it comes to healthcare services in India. Besides the immense cost of doctor consultations, drugs also take up a considerable portion of the total expenses. Patients often struggle to acquire these branded medications, leaving them without sufficient financial backing to continue treatment.
Under such a situation, generic medicine can come to one’s aid. These can replace the branded counterparts prescribed, costing only a fraction of those drugs.
What Is Generic Medicine?
Generic medicine refers to any drug not created and marketed by major pharmaceutical companies. In theory, they should be based on the same formula as that of their branded counterparts. Moreover, the production process of these medicines should also be identical to their branded variants.
Since generic medicine is manufactured keeping in mind a formula whose patent has expired, its producers do not have to spend the considerable sum that most large pharma brands do. Moreover, generic drug producers do not need to spend on R&D to perfect a formula. Instead, they simply acquire these readymade formulas from the market.
In essence, generic medicine should be just as effective as their branded counterparts are. However, the reality in India is starkly different.
Why Do Generic Drugs Have Limited Effectiveness?
It makes sense that when you take an identical formula and chemical components, the results should be similar. However, several mitigating factors exist, which reduce the effectiveness of the generic variants. Here are some of the common reasons for it –
Improper Hygiene Standard
While the production cost for generic medicine is already minimal, manufacturers try to limit further capital investment. This results in such companies cutting corners while developing generic drugs. Lack of proper hygiene, for instance, is a big concern, leading to the contamination of entire batches of medication. This can reduce their effectiveness or cause harmful side effects, which are not part of the original formula.
Not Following Production Guidelines
Various government and medical bodies have prepared a list of guidelines for proper and safe drug production. Generic medicine manufacturers tend to bypass most of these suggestions, instead choosing to undertake productions under unsafe conditions. In some cases, such companies may even lack a proper laboratory atmosphere for the creation of these drugs.
No Quality Control
The focus is clearly on maximizing profits from generic medicine production and sales. Thus, quality is never a concern in this sector. In case a batch of drugs is tainted, manufacturers will rarely start over to perfect the production cycle. Instead, this tainted or improper batch is shipped, without any changes.
This can also affect the overall quality and effectiveness of a drug. Thus, although such medications are significantly cheaper, they are not as reliable. In some instances, taking these alternative options may also leave one with serious side effects and health issues.
If the financial aspect is a major concern for you, availing a Bajaj Finserv Digital Health EMI Network Card can help you afford even the most expensive drugs.
What Is A Health EMI Card?
Digital health care is a specialized financial product, which arrives with a pre-sanctioned limit. Users can utilize this limit exclusively for their medical needs. The primary benefit of such a card is that individuals can convert their medical liabilities into EMIs, which are easy to service.
Before applying for a health card online, one needs to know the various benefits of this financial product –
- Wide range of network outlets – Cardholders can avail of cashless treatment and healthcare services from over 5,500 facilities, distributed across 1,000 cities in India.
- Choose your tenure – Repayment tenures for advances on such a card can range from 3 to 24 months. This should be sufficient to service even the most substantial principal sum.
- Considerable limit available – Eligible card applicants can avail of a credit limit of up to Rs.4 lakh, to finance medical needs only.
- Attractive discounts – The card issuer offers a diverse range of discounts, cash backs, and other offers on expenses at select outlets. These offers can lead to significant savings.
- Support for almost all major medical procedures –This card can help individuals finance more than 800 essential and non-essential medical services, ranging from fertility treatments to homeopathic remedies.
- One card for one family – Cardholders can use their health cards to pay for the treatment of their family members, including children, parents, spouse, and siblings.
- Reasonable joining fee – If you are interested to avail such a card, you need to choose from an insta or a non-insta variant. If you opt for the former, you would have to pay a purchasing fee of Rs.707, while the latter will set you back by Rs.589.
Individuals with existing Bajaj EMI Network cards can choose to avail of this digital card online. However, those with no prior association to the NBFC will need to approach a network outlet for offline application.