Generic medicine is a medication that works similar to brand-name drugs. Generic drugs have the same dosage, strength, quality, safety, and results as the brand-name ones. They also have the same way of administration which enables them to be used as proper substitutes to brand-name medicines. One important point to remember is that you won’t find generic medicines of a new drug fairly quickly because they are safeguarded by patents. This disallows others from making substitute drugs or generic medications of the brand-name drug. Generic drugs can legally enter the healthcare market after the brand-name drug has been in the market for quite some time.
How has healthcare changed?
Generic medicine is sold at a much cheaper and affordable rate when compared to the brand-name alternative. Typically, this can be anywhere between 80% to 85% lesser than the brand-name drug. That means significant cost savings for patients. The reason for this price difference is that the generic drug does not require extensive research because it has already been done by the expensive counterparts; i.e. the brand-name drugs. The boom in generic drugs has been encouraged by better technology. More and more countries are encouraging the use of generic medicine rather than brand-name drugs. India is one of them.
India contributes to 74% of the generic drug trade. Generic drugs are not only a blessing to developing countries but to those in rich countries as well. Take the U.S. healthcare system for example. It has saved more than $2 trillion in 10 years due to the introduction of generic drugs. Economies are benefitting as a result of the reduction in healthcare expenditure yearly. Many more nations have expressed significant cost savings because of the availability of widely available generic drugs. Higher competition in the drug market is making healthcare more accessible than ever before.
Earlier, it was difficult for a normal individual to afford certain medications because of the high cost. Many people simply didn’t buy it or they somehow managed which pushed them into debt. Today, with the availability of generic medicine, every section of society can access medicines when they need them. This has ensured better healthcare systems in both developed and developing nations. As more people get access to generic drugs, they can better manage their health at a lower cost than ever before. This is a move towards the right direction and it has been possible with the help of technology.
Why do you need a health card?
With improvements and higher competition for medicinal drugs, the cost of generic medications can be driven lower. This can provide a much-needed boost to the healthcare systems all over the world. However, the cost of treatments is still at an all-time high which means many are still unable to get the care that they need. While generic medications have immensely helped India, the cost of treatments and procedures can still put a burden on its citizens. As India has a high number of people with terminal illnesses, every individual needs a way to get the care they need when they require it. This includes emergency care.
A health card can be quite helpful whether you are placing an order online for generic drugs or brand-name drugs. Bajaj Finserv Health EMI Network Card is one of the best health cards available in India that gives you the liberty to pay for your medical bills through no-cost EMIs. It covers more than 800 treatments. From maternity care to plastic surgeries, the Bajaj Finserv Health EMI Network Card ensures you can pay for your healthcare instantly without delay. This can come in handy particularly in the time of emergency but otherwise as well. It saves you not only time and effort but worry too.
The Bajaj Finserv Health EMI Network Card comes with a pre-approved limit of Rs. 4 lakh and a complimentary personal accidental insurance of Rs. 1 lakh for one year. You can use a single card for your entire family. This includes your spouse, your parents, your siblings, and your children. The card can be used in more than 1000 cities in India. Bajaj Finserv has more than 5,500 partner medical stores, pharmacies, clinics, and hospitals from where you can get the care when required. You can pay the no-cost EMIs in flexible tenures starting from 3 months to 24 months. It provides one of the best ways to pay for your medicines and treatment in increments.
You can easily health card apply online. If you already have a Bajaj Finserv EMI Network Card then you need no documentation when applying for the card. You just need to pay a joining fee once. Those without an EMI Network Card can apply at partner medical centres and get the card to avail the benefits. Paying for generic drugs along with treatment can be costly. With the health card, you can easily break up the cost into easy-to-pay increments making it possible for you to get the medicine and treatment promptly.