When you visit your medical doctor for diagnosis and treatment services, you expect to get the best treatment and advice on how to restore your health. Therefore, when you are likely to take your doctor’s recommendations seriously. However, many patients have always complained about the high cost of medical products recommended by their doctors. So, what’s the real reason behind this? Read on to understand why products your doctor recommends cost more.
Should Your Doctor Advise You on Which Medical Products to Buy?
The answer is yes because your doctor is your first and the best point of contact for information on medical issues. They’ve been in the medical field long enough to know what works and what doesn’t. Therefore, they know which medical products will help you deal with your condition effectively and fast.
Sometimes they’ll even direct you to specific pharmacies and shops that sell the exact medical products they believe will improve your situation. But they shouldn’t force you to buy the products from the specific stores because that may be considered a breach of the code of conduct. So, you have the ultimate decision to buy the exact product recommended by your doctor.
Why Are Medical Products Recommended by Doctors Expensive?
When you visit your doctor for treatment, the cost of treatment is usually not your main concern, especially if you are hurting. You are only interested in getting the best remedies for your condition. But at times the cost of medical products, especially those recommended by your doctor, can leave you with an empty wallet. There are several reasons for this discrepancy in pricing.
As noted above, your doctor will only recommend the best products for your situation. If the recommended product is the best in the market, it’s likely going to be in high demand, and consequently in short supply. Also, some of these products are used to treat rare conditions, so they aren’t manufactured in large volumes and cost more to produce.
Cost of Production
The production of pharmaceutical products is a risky investment because every product must be taken through long and costly processes to ensure it’s safe and effective. Many pharmaceutical companies spend millions of dollars conducting clinical trials, which affect the wholesale and retail prices of their products.
Some of the pharmaceutical products your doctor will recommend are only produced by one company. Companies with monopolies get inelastic demand and therefore can increase their prices without fear of losing customers.
The cost of some medical products stays low because there are many cheaper generic products. But patents are automatically expensive because they lack reproductions. So, if the product that your doctor recommends doesn’t have replicas, it’ll be expensive.