Document Type

Article

Abstract

Health care systems are generally recognizing that information is an essential commodity, and the information is a key ingredient to being successful. Any absence of full information can lead to transactions that are ultimately disadvantageous for patients and physician and drugstores. An attempt is made in this study on information asymmetry with patients and drug stores with the principal component analysis of factor analysis and it was extracted 9 interpretable factors from 21 information variables that are possibly attributes the asymmetrical information. From the analysis, it is found that (a) expected role from Drug Store persons and (b) expected details about medicines purchased by the patients are the most important factors. This is because the price and the cost spent for the drugs and medicines are increasing day by day. Another important factor is related to patient “dependency” with drug stores persons and role of drug store persons in building the confidence in the minds of patients. A clear cut legal reforms on health care is required to be streamlined and right to avail the information from the agents of the health care sector viz., physicians and drug stores.

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