The Commercialization & Commodification Of Medicine & Healthcare In Contemporary Society

The commercialization and commodification of medicine and healthcare in contemporary society have become significant concerns that impact access, affordability, and the ethical aspects of healthcare delivery.
This article explores the key aspects of this phenomenon and its implications.

1. Healthcare Systems That Are Profit-Driven:
In many nations, healthcare systems have transitioned from predominantly service-oriented models to profit-driven businesses. Pharmaceutical firms, insurance firms, and private healthcare providers frequently put profits ahead of patient well-being. To increase revenues, this may result in greater prices, overtreatment, and excessive pharmaceutical prescriptions.

2. Influence Of The Pharmaceutical Business:
The pharmaceutical business is essential to the commercialization of healthcare. Concerns over pharmaceutical firms' influence on medical research, medication approval procedures, and prescription habits are growing. Marketing tactics sometimes overstate the advantages of drugs while downplaying their possible drawbacks.

3. Medical Technology & Devices:
It's undeniable that improvements in this field have enhanced patient care. However, the commercialization of these technologies may result in exorbitant costs and overuse, making healthcare less accessible to economically disadvantaged people.

4. Rising Healthcare Costs:
The commercialization of medicine has contributed to rising healthcare costs, making medical services and treatments less affordable for many individuals and families. High drug prices, expensive medical procedures, and administrative costs are some of the factors driving healthcare expenses.

5. Healthcare Inequality:
Already existing social disparities may be made worse by the commercialization of healthcare. While marginalized populations may encounter challenges to healthcare owing to financial restrictions, wealthier people frequently have greater access to cutting-edge medical treatments and technology.

6. Medicalization Of Common Problems:
In a system that prioritizes profit, there may be a propensity to medicalize common problems to encourage the use of drugs and other treatments. This medicalization may result in treatments and medications that are not essential, thereby harming the patients.

7. Direct-To-Consumer Advertising (DTCA):
Pharmaceutical corporations advertise their prescription drugs directly to consumers in some countries through a practice known as direct-to-consumer advertising, or DTCA. While this practice may boost drug sales, it also runs the risk of overprescribing and promoting unneeded medicine usage.

8. Ethical Concerns:
The commodification and commercialization of healthcare create moral concerns about placing the interests of profit over those of patients. Healthcare practitioners may have conflicts of interest as a result, allowing financial incentives to affect healthcare choices.

9. Impact On Doctor-Patient Relationship:
The doctor-patient relationship may suffer in a healthcare system that prioritizes profit. Open communication and joint decision-making between physicians and patients may be hampered by time restraints and budgetary restrictions.

10. Issues With Health Insurance & Coverage:
Commercialized healthcare systems may lead to low insurance coverage and high deductibles, denying certain people access to basic treatment.
Supporting evidence-based medicine, encouraging transparency in medication pricing and healthcare expenses, and looking into alternate forms of healthcare delivery are among the actions taken to solve these issues. The objective is to create a balance between the requirement for medical innovation and the moral duty to provide all members of society with accessible and affordable healthcare.