SCOPE OF PURSUING MBA AFTER B.PHARMACY

SCOPE OF PURSUING MBA AFTER B.PHARMACY

Pursuing a MBA after Pharmacy is the good idea, a scope for MBA Pharma students is increased in the present market.

Pharma MBA is the most demanded in market, as in recent recession in the last year and present when compared to other industries only Pharma Industries remain unaffected.

If you are having the good Management Qualities or Leadership qualities then it would be the good idea to choose the MBA Pharma.

At present many Institutes are offering this course, NIPER(National Institute of Pharmaceutical Education and Research), Mohali is the best Institute to pursue this course.

The other Institutes which are offering this course in India are Narsi Monji Institute of Management Studies(Mumbai), Indian Institute of Pharmaceutical Marketing(Lucknow), Maharshi Dayanand University(Rohtak), Podhar Management and Training Institute(Jaipur), SRM University School of Management(Chennai) and many other....

If we have pursued MBA in a good institute then there would be a good career or demand for students in market. If this is not possible or due to some reasons if you have not able to pursue this course then doing of the Marketing Specialization in Pharma also the good option.

If you are very good in management and personally have leadership quality just get in to MBA.

Pharma MBA is most demanded in market. You are from pharmacy background, therefore you can get more beneficial than others.

In recent economic recession only pharma-industries are remain unaffected or less effected than any other industries in the world. So be in the field in more beneficial.

Other than it, HR studies is also valuable in any companies or industries. MBA in HR is good but In interview first of all you will be asked that why you did pharmacy? You can do same with any other B.Com or B.A.... So, you have to mentally prepare your self for such argues.

One thing is very clear that simply don't run behind scope or money but go for such a training or where you have interest and application of knowledge. Only you can justify yourself regarding suitable field in which you are getting fit.

IMPORTANCE OF EFFECTIVE PATIENT COUNSELLING

 IMPORTANCE OF PATIENT COUNSELLING-

Pharmacists can have a significant and positive impact on patient care and therapeutic outcomes through effective counseling. The pharmacists role is especially important because a patients lack of knowledge about his or her medical condition and medications is one factor that may contribute to a patients non adherence to medication regimens and monitoring plans.
In general, patient counseling has 3 main objectives: assessing the patients understanding of the therapy, including proper use and adverse effects of the medication; improving patient adherence; and motivating the patient to take an active role in health management.  Studies have shown that patient counseling can improve patient care in various ways :

• Reducing medication errors
• Increasing patients understanding and management of their medical condition
• Minimizing incidence of adverse drug reactions and drug drug interactions
• Improving patient outcomes and satisfaction with care

Although every pharmacist implements individualized techniques to counsel patients, various skills are vital to successful pharmacist patient interaction during patient counseling sessions. Following are 10 features of effective patient counseling:

1. Establish Trust:

Pharmacists are among the most accessible and trusted health care professionals. When initiating a patient counseling session, pharmacists should introduce themselves with a brief, friendly greeting to make patients feel comfortable enough to ask questions about their medication therapies and health conditions. Pharmacists who demonstrate a genuine interest in patient care are more likely to encourage dialogue.

2. Communicate Verbally:

Pharmacists can encourage dialogue by asking questions. They should assess what the patient already knows about his or her chosen therapy and tailor the counseling to meet the needs of each individual patient. Ask patients what their physician has told them about the selected therapy and the condition for which they are being treated.

3. Communicate Nonverbally:

In addition to verbal communication, it is essential for pharmacists to be aware of nonverbal communication, such as maintaining eye contact with the patient, to demonstrate interest in the information the patient is relaying. Pharmacists also should be cognizant of other nonverbal clues, such as facial expressions and tone of voice, when interacting with patients.

4. Listen:

When counseling patients about medication therapy, listening to the concerns, questions, and needs of the patient is essential. Listening skills can be categorized into 4 classes: passive listening, acknowledgment responses, encouragement, and active listening.  Passive listening occurs when the pharmacist enables the patient to communicate without interruption. An acknowledgment response such as nodding occurs during passive listening and alerts the patient that the pharmacist is indeed listening. Pharmacists also can use encouragement strategies through the use of words such as "yes" or "go on." Active listening involves 2- way interactions between the patient and the pharmacist and always should be implemented after passive listening.

5. Ask Questions:

When posing questions to the patient, pharmacists also should state the reason for asking certain questions, so as not to offend the patient. Asking open-ended questions enables pharmacists to gather more information that may lead to other questions and/or provide valuable information to the pharmacist to further assess the patient.

6. Remain Clinically Objective:

It is important for pharmacists not to allow personal beliefs either ethical or religious to affect their ability to counsel a patient effectively. Pharmacists should make every possible effort to be nonjudgmental and impartial, to focus on patient care, and to maintain a professional demeanor.

7. Show Empathy and Encouragement:

When a pharmacist displays empathy and encouragement, a patient may feel more comfortable discussing his or her medical condition and medication use, thus enabling the pharmacist to obtain pertinent information on the patients needs and concerns. Emphasizing to patients the importance of adherence to medication regimens can promote positive therapeutic outcomes and motivate patients to take an active role in the management of their health. During counseling, pharmacists also should remind patients to call the pharmacy or their physician with any concerns about their medications.

8. Provide Privacy and Confidentiality:

Ensuring complete privacy and confidentiality helps enable patients to feel comfortable discussing personal medical issues. Today many pharmacies are equipped with special counseling areas to address privacy issues. When counseling, pharmacists can reassure patients of privacy by monitoring voice levels and counseling patients away from the dispensing area when possible.

9.Tailor Counseling to Meet Patient Needs:

The ability to tailor patient counseling to meet individual needs is critical. Pharmacists should be aware of patients with disabilities and be prepared to treat them with respect and understanding. Techniques should be tailored to accommodate the needs of each patient via verbal counseling or the use of visual aids and demonstrations when warranted. When the medication therapy involves certain administration techniques, such as the use of an inhaler, an injection, or a monitoring device, pharmacists should demonstrate the proper technique to ensure that patients are adequately trained.

10. Motivate Patients:

Effective counseling not only provides patients with the pertinent information they need to use their medication correctly, it also motivates them to adhere to their medication regimens. Pharmacists can motivate patients by discussing the benefits of medication adherence, offering support, and explaining the pros and cons of treatment. For example, when counseling a patient with diabetes, in addition to teaching the patient about medications, the pharmacist can stress the importance of maintaining tight glycemic control to decrease or prevent the complications associated with diabetes. Pharmacists also can make suggestions, such as the use of medication reminder containers, to facilitate patient adherence. Information always should be relayed positively, and pharmacists should look continually for ways to inspire patients to learn more about their treatment plan.

Conclusion:

During the course of a pharmacist busy day, it is impossible to counsel every patient. Whereas the use of written counseling information can be beneficial, it does not replace the interaction between the pharmacist and the patient. Pharmacists should seize every opportunity to counsel patients about their treatment regimens and ensure that patients clearly understand the proper use of their medication. Establishing caring relationships encourages patients to seek counsel, thus increasing the likelihood of positive therapeutic outcomes. Every time a pharmacist takes the opportunity to counsel patients, he or she empowers patients with the information necessary to impact the quality of their health. Although every pharmacist has a different perception of what patient counseling should entail, all pharmacists should strive for one goal when counseling patients: to ensure that patients are well informed about the proper use of their medications.

REGULATORY AFFAIRS - A GREAT CAREER OPPORTUNITY.

REGULATORY AFFAIRS - A GREAT CAREER OPPORTUNITY:

Regulatory affairs is a comparatively new profession which developed from the desire of governments to protect public health by controlling the safety and efficacy of products in areas including pharmaceuticals, veterinary medicines, medical devices, pesticides, agrochemicals, cosmetics and complementary medicines.

The companies responsible for the discovery, testing, manufacture and marketing of these products also want to ensure that they supply products that are safe and make a worthwhile contribution to public health and welfare.

A new class of professionals emerged to handle these regulatory matters for companies.

The regulatory professional :

A regulatory professional is responsible for keeping track of the ever-changing legislation in all the regions in which a company wishes to distribute its products, advise on the legal and scientific restraints and requirements, and collect, collate and evaluate scientific data.

They are responsible for the presentation of registration documents to regulatory agencies, and carry out all the subsequent negotiations necessary to obtain and maintain marketing authorisation for the products concerned.

They give strategic and technical advice at the highest level in their companies, right from the beginning of the development of a product, making an important contribution both commercially and scientifically to the success of a development programme and the company as a whole.

Avoiding problems :

It takes anything up to 15 years to develop and launch a new pharmaceutical product and many problems may arise in the process of scientific development and because of a changing regulatory environment. Regulatory professionals help the company avoid problems caused by badly kept records, inappropriate scientific thinking or poor presentation of data.

Marketing and advertising :

In most product areas where regulatory requirements are imposed, restrictions are also placed upon the claims which can be made for the product on labelling or in advertising.

The regulatory affairs department will take part in the development of the product marketing concepts and is usually required to approve packaging and advertising before it is used commercially.

Working internationally :

Many companies operating in high-technology healthcare and related industries operate on a multinational basis and are significant exporters. Their regulatory affairs departments must be aware of the regulatory requirements in all the company’s export markets.

Despite recent international efforts towards harmonisation of requirements, the regulations laid down by different governments and their interpretation by the regulatory agencies rarely match. The registration data prepared for one country frequently fail to meet the requirements for another.

Therefore great care has to be taken in drawing up efficient and economical research and development programmes whose results may be used as widely as possible. Regulatory professionals, with their detailed knowledge of the regulations and guidelines, are frequently called in to advise on such matters.

Healthcare RA :

The regulatory function in healthcare industries is vital in making safe and effective healthcare products available worldwide. Individuals who ensure regulatory compliance and prepare submissions, as well as those whose main job function is clinical affairs or quality assurance are all considered regulatory professionals.

Regulatory professionals are employed in industry, government and academia and are involved with a wide range of products, including:

·         pharmaceuticals

·         medical devices

·         in vitro diagnostics

·         biologics and biotechnology

·         nutritional products

·         cosmetics

·         veterinary products

The regulatory professional's roles and responsibilities often begin in the research and development phases, moving into clinical trials and extending through premarket approvals, manufacturing, labeling and advertising and post marketing surveillance.

Core competencies :

Regulatory professionals come from diverse backgrounds. Most regulatory professionals have earned a bachelor's degree, and more than half have an advanced degree, most often in a scientific or technical field. In addition, regulatory professionals usually have experience in other careers before transitioning into regulatory affairs.

Although there are some university degree and graduate certificate programs in regulatory affairs and related areas, experience is a key asset for regulatory professionals. Valuable skills include project management and organization, negotiation and communication, and the ability to learn from the experience of others, both inside and outside the organization.

Continuing education and professional development are critical to the regulatory professional. Regulatory professionals must keep up to date with regulatory policies and procedures for one or more countries, as well as maintain an understanding of the scientific and technical background of healthcare products. Global aspects of regulatory affairs are taken up by organisations such as the Drug Information Association (DIA) and the International Conference on Harmonisation of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH).

Future developments :

Many in the Regulatory Affairs Profession believe the New Approach to regulation will eventually be adopted for all healthcare products as it represents the best model for delivering new healthcare advances to market in a reasonable time with acceptable safety.

Regulatory Affairs departments are growing within companies. Due to the changing resources necessary to fulfill the regulatory requirements, some companies also choose to outsource or outtask regulatory affairs to external service providers. Regulatory Affairs department is constantly evolving and growing and is the one which is least impacted during the Acquisition and Merger, and also during recession. Global harmonization in standards has led to consistent approach in regulatory submissions and hence its review.

MOST HAPPENING CAREER OPPORTUNITIES IN PHARMACY.

Career Opportunities in Pharmacy :

It is an incredibly exciting time to pursue a career in pharmacy and students graduating from various Colleges  of Pharmacy have a wide-range of career opportunities available to them. To learn more about these opportunities, see below.  

Retail pharmacy :

The majority of pharmacists work in retail pharmacy. Retail pharmacists dispense and verify medications, counsel patients on medication use and general health topics, and recommend over-the-counter products. Additionally, depending on the pharmacy, retail pharmacists may vaccinate patients or offer medication therapy management to patients with chronic disorders or both. Retail pharmacists manage pharmacy technicians and may choose to pursue a management track.

  

Independent pharmacy :

In addition to the responsibilities described under retail pharmacy, pharmacists working at an independent pharmacy may compound medications and, depending on the size of the pharmacy they own, they may manage finances, order and take inventory of items sold at the pharmacy, manage personnel, make payroll, etc. Individuals interested in owning a pharmacy should consider the PharmD/MBA dual degree program offered by the Rangel College of Pharmacy and consider joining the National Community Pharmacists Association (NCPA). 

Hospital pharmacy :

Hospital pharmacists advise health care providers and patients on the safe and effective use of medications and are responsible for choosing, preparing, storing, compounding, and dispensing medications. Other responsibilities include monitoring medication use, implementing hospital regulations related to medication, and other administrative tasks. Individuals interested in hospital pharmacy typically complete a pharmacy residency program and should consider joining the Student Society of Health-System Pharmacists.   

Clinical pharmacy :

Clinical pharmacists work with physicians and other health care professionals to ensure that medications contribute to optimal patient health outcomes. Responsibilities may include evaluating patient response to prescribed medications, attending patient rounds in hospital units and counseling patients. Clinical pharmacists work in hospitals, health clinics, nursing homes and insurance companies. Individuals interested in clinical pharmacy typically complete a pharmacy residency program and should consider joining the Student Society of Health-System Pharmacists.

Managed care :

Managed care pharmacists work directly with other health care professionals to provide medication therapy management, while considering the pharmaco economic impact on patients. They provide a broad range of clinical services including monitoring patient safety and outcomes, managing formularies, and patient education. Managed care pharmacists typically work for health plans and pharmacy benefit management companies. Residency opportunities are available to individuals interested in managed care and interested individuals should consider joining the Academy of Managed Care Pharmacy.

Industry

There are a broad range of opportunities available to pharmacists in the pharmaceutical industry. They can participate in research and development, quality assurance, drug information, sales, marketing, regulatory affairs or clinical trials. Individuals interested in working in the pharmaceutical industry typically participate in postgraduate fellowship programs available at many pharmaceutical companies.

Consultant pharmacy

Pharmacy consultants typically work with long-term care facilities and review drug regimens, offer pharmacokinetic dosing services, patient counseling and therapeutic drug monitoring. Long-term care facilitates include nursing homes, mental institutions, home health agencies, hospice care, correctional institutions, rehabilitation centers and adult day care centers.

Academia :

Pharmacists interested in training the next generation can pursue a career as faculty member at a college or school of pharmacy. Pharmacy faculty teach, conduct research, participate in public service, precept students and contribute to patient care. Individuals interested in a career in academia should consider residencies with significant teaching components.

Nuclear pharmacy :

Nuclear pharmacists compound and dispense radiopharmaceuticals for use in medical procedures. Individuals interested in nuclear pharmacy must complete a training program after earning a Doctor of Pharmacy degree and should consider residency programs that focus on nuclear pharmacy. Students enrolled at various Colleges  of Pharmacy may choose to enroll in an elective nuclear pharmacy rotation in the fourth year of the PharmD program.   

Government agencies :

The National Institutes of Health, FDA, US Centers for Disease Control and Prevention, United States Department of Homeland Security, Federal Bureau of Prisons, Veterans Administration, and Armed Forces all employ pharmacists. Pharmacists working with a governmental agency engage in a wide range of tasks, including patient care, biomedical and epidemiological research, reviewing new drug applications, and developing and administering health care policy.

SPECIALTY HEALTHCARE - MOST EMERGING INDUSTRY IN THE WORLD.

Drug molecules that help in treating specific genetic conditions which don’t have any therapeutic intervention in the market are considered to be as specialty pharmaceuticals.

 Specialty Pharmaceuticals are more targeted drugs and have less toxic in nature when compared with traditional drugs. Specialty pharmaceuticals include biopharmaceuticals, blood derived products and complex molecules. Pharmaceuticals that are having high cost also falls under the specialty pharmaceuticals.

 The cost of specialty pharmaceuticals threshold is around $600 per month. The average cost for specialty medical therapy is around $35,000 to $75,000 costs per patient per year. Specialty pharmaceuticals are mainly available at physician offices in another way these are mostly available through prescriptions.

Specialty pharmaceuticals are having the fastest growth in the U.S. According to a research study, specialty pharmaceuticals drug spending increased in the US by 26.5% in 2014 this is due to the recent launch of drugs for hepatitis C.

Specialty pharmaceuticals are gaining traction in the pharma industry is due to lack of proper interventions for few disease conditions and faster regulatory approvals are driving the growth of this market.

In 2014, around 27 specialty pharmaceuticals got U.S regulatory approvals when compared with 24 traditional drug approvals. Companies are also actively involved in developing specialty pharmaceuticals on rare disease conditions to get orphan drug status for their drugs. In 2015, Europe regulatory authorities approved more medicines for rare diseases around 93 newly approved medicines, and 18 are orphan drugs. Hence, companies are mainly focusing these specialty pharmaceutical owing to their higher revenues and high-profit margins. For instance, in FY 2014, Teva overall revenue was around $ 20 billion out of that 42% of sales revenue was contributed by the specialty pharmaceutical drugs. Among the specialty pharmaceuticals drugs, Copaxone generated around 50% of the sales revenue.

Based on therapeutic area, the global specialty pharmaceuticals market is divided into following

·         Oncology

·         Inflammatory conditions

·         Multiple sclerosis

·         Growth hormone

·         Other disease conditions

Based on route of administration, the global specialty pharmaceuticals market is divided into following

·         Oral

·         Parenteral

·         Transdermal

Based on distribution channel, the global specialty pharmaceuticals market is divided into following

·         Hospitals

·         Retail Pharmacies

·         Specialty Pharmacies

·         Mail Order

Based on therapeutic area, specialty pharmaceuticals market is segmented into oncology, inflammatory conditions, multiple sclerosis and other disease indications. Among them, oncology occupies the major market share followed by inflammatory conditions. According to WHO, cancers are the leading cause of mortality and morbidity worldwide with an incidence of 14 million cancer cases and 8.2 million cancer-related deaths. In inflammatory disease condition, rheumatoid arthritis occupies the significant market share for the specialty pharmaceuticals when compared with other inflammatory disease conditions. The higher cost of the drugs is hindering the growth of the specialty pharmaceuticals market. Based on the route of administration, the specialty pharmaceuticals market is segmented into oral, parenteral and transdermal. Parenteral route occupies the major market share followed by the oral route.

On the basis of the distribution channel, specialty pharmaceuticals market is segmented into hospitals, retail, specialty pharmacies and mail order. Hospitals occupy the major pie in the specialty pharmaceutical products this is mainly due to the availability of these drugs over prescription. Other than hospitals, retail pharmacies, and specialty pharmacies are also have good market share during the forecast period. However, during the forecast period, specialty pharmacies are expected to occupy the major market share when compared with retail pharmacies over the forecast period.

Based on geography, specialty pharmaceuticals market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. North America accounts the significant market share due to high buying power and reimbursement for the specialty pharmaceuticals are the major factors boosting the growth of this market during the forecast period. Asia Pacific specialty pharmaceuticals market is expected to grow over the forecast period owing to the growth of biopharmaceutical industry in China and India.

Major players in the specialty pharmaceuticals market include Teva Pharmaceuticals, Abbvie Inc, Amgen, Johnson & Johnson, Celgene, Gilead Sciences, Roche are the key players in the market. Top 10 U.S specialty pharmaceuticals itself generated around $ 37B revenue in 2012. In U.S specialty pharmaceuticals, Humira is one of the top-selling specialty pharmaceutical drug and it accounted $4.4B in 2012 and expected to dominate the market till 2018.