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Cost vs. Benefits of RFID Implementation in the Pharmaceutical Industry

Edward M. Keefe. Cost vs. Benefits of RFID Implementation in the Pharmaceutical Industry. The Supply Chain. More complex than retail Drugs sold to end user at different prices Medicaid Medicare Hospitals Pharmacies Large retailers. Problems in The Supply Chain. Diversion

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Cost vs. Benefits of RFID Implementation in the Pharmaceutical Industry

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  1. Edward M. Keefe Cost vs. Benefits of RFID Implementation in the Pharmaceutical Industry

  2. The Supply Chain • More complex than retail • Drugs sold to end user at different prices • Medicaid • Medicare • Hospitals • Pharmacies • Large retailers

  3. Problems in The Supply Chain • Diversion • Discounted drug are sold on open market • Sold on black market • Counterfeiting • Copies of drugs enter the market

  4. The Issue • Costs vs. Benefits Of Implementation • Costs • Price • Untested in industry • Benefits • Stop counterfeiting and diversion • Public Safety

  5. General Issue • Implementation of New Technology • Using the implementation of new technology in industry as benchmark • Using the success or failures of RFID implementation in others industries as a guide

  6. What is RFID? • Radio-frequency identification • Uses radio waves to transmit the identification and other unique information • Integrated circuit and Antenna • Passive • Active • Semi-passive

  7. Evidence of Difficulty • Hype • Agencies trying to implement drug tracking • Failures vs. Successes • Discussion if actual per unit costs are too high

  8. Stakeholders • Pharmaceutical Companies • FDA • States and Regulatory Agencies • Public • RFID producers

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