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7-1 Final Project Milestone Three - Business Operations Opportunities Analysis.docx

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Ryan Burnet7-1 Final Project Milestone Three:Business Operations Opportunities AnalysisQSO - 690Abbott's income is mostly derived from the sale of a wide range ofhealth-care products under short-term payable contracts. International salesaccount for around 60% of overall net revenue. Prescription medications,nutritional supplements, diagnostic testing equipment, and vascular productsare among Abbott's primary products. The pharmaceutical business isresponsible for the great majority of R&D investment.The amount of time, trouble, and money spent obtaining andmaintaining approval to advertise newly developed and current goods.Prescription medicines and medical gadgets are subject to the sameregulations as other manufacturers. Government regulatory actions canresult in product delays or seizures, suspension or cancellation ofmanufacturing and selling permits, and other civil or criminal fines.Many countries limit the selling price of most health-care goods, eitherdirectly or indirectly, through reimbursement or pricing regulations. Manycountries also impose limitations on the entrance of raw materials andfinished commodities. Industry, government organizations, and others areconstantly undertaking research into the safety and efficacy of health-careproducts. In certain cases, such inquiries have led in the termination of suchmarketing.Most American states have generic substitution legislation thatmandates or permits a dispensing pharmacist to substitute a differentmanufacturer's version of a pharmaceutical product for the one prescribed.1
Ryan Burnet7-1 Final Project Milestone Three:Business Operations Opportunities AnalysisQSO - 690The federal government employs a payment mechanism based on diagnosis-related groups (DRGs). DRGs and PPSs allow a health care facility to a fixedcompensation based on the diagnosis and/or procedure rather than actualpatient treatment costs. Cost-cutting initiatives in the United States haveextended to the federally sponsored Special Supplemental Nutrition Programfor Women, Infants, and Children. Efforts to minimize health-care expensesare also being made in the business sector. According to Health Minister GregAbbott, legislation may modify access to health care, lower prices, or raisethe rate at which prices rise.

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Term
Fall
Professor
NoProfessor
Tags
Revenue, Abbott Laboratories, Financial instrument

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