Title: Price ceiling of coronary stents - challenges ahead

Authors: Amarendra Pattnaik

Addresses: School of Law, KIIT University, Bhubaneswar, Odisha 751024, India

Abstract: Coronary stent is one of the most critical medical implants needed for heart treatment. While it is a life saving product, its pricing in Indian market had been erratic, inflated and unaffordable to common people. Till February-2017, these stents were being sold with a profit margin of more than 600%. This astronomical trade margin was being shared by the manufacturers, intermediaries and hospitals. Based on a PIL and the direction of Hon'ble Delhi High Court, the government has now capped the prices of all variants of stents making them cheaper by nearly 80%. But healthcare industry has not passed the full benefit to the customers. To offset the loss of profit from coronary stents, they have increased the price of coronary procedures and other provisions. On an overall basis, the reduction of the package cost is 18%, even when stents constitute a major portion of the cost. Such unfair practices are prevalent in many other medical implants as well and therefore it is a matter of concern. This article delves into this issue and suggests measures to counter the menace.

Keywords: coronary stents; medical implants; price ceiling; unfair trade practice; healthcare regulation.

DOI: 10.1504/IJTMCP.2019.100045

International Journal of Telemedicine and Clinical Practices, 2019 Vol.3 No.2, pp.165 - 173

Received: 28 Dec 2018
Accepted: 18 Mar 2019
Published online: 04 Jun 2019 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article