What Is Generic Medicine And Common Precautions To Have It?

Generic medicine can be said to be a standard drug that serves as a substitute for a brand-name medicine. While generic drugs do not require lengthy R&D procedures, they come with tried and tested results that imitate those of brand-name medicines. Also, before they are marketed, generic drugs must meet standard guidelines laid down for their suitability as a substitute. Nevertheless, these medicines have, under some circumstances, been found to stray from their standard effects.

One must thus know in detail about their effects before concluding. Nevertheless, individuals should first understand what such medications entail.

What is a generic medicine?

Generic drugs, by definition, are medicines that are identical in composition and effect when compared to an identical brand-name medicine that was previously protected by a patent. This patent may have been owned by a pharmaceutical company in the past, but after its expiration, almost any manufacturer can create the drug and sell in a generic name.

A generic medicine is inexpensive when compared to its branded counterpart. It is primarily why individuals tend to seek such drugs instead of the conventional ones available in the market.

Is generic medicine suitable for you?

Theoretically, generic medicines can be just as effective and safe for an ailing individual as its branded counterpart. However, this may not always be the case, especially in India. To ensure cheaper processing and manufacturing, generic drug producers in the country often resort to cutting corners. 

As such, the product may turn out to be completely ineffective against the disease or condition it is supposed to combat. In certain unfortunate cases, one may even experience side effects of varying degrees from ingesting such a drug.

Globally, pharmaceutical companies need to stick to stringent guidelines and norms when producing generic medicine. However, India’s regulation of processing and manufacture of generic medications can be too lax in some cases, leading to poor quality drugs.

Why do doctors in India avoid prescribing generic medicine?

Only a handful of physicians in the country recommend generic drugs to their patients. It boils down to the lack of quality and the side effects prevalent for such medication. Reputed brands, on the other hand, are more reliable when it comes to the sheer effectiveness of the drugs in question. 

A pharmaceutical brand, which has been operating for several years, stands as a more trustworthy and proven option for Indian doctors. These brand manufacturers have constantly delivered high quality drugs to the market, even when their prices are not at all competitive to generic alternatives.

Thus, one should try to avoid using generic medication in India since most of the high quality generic drugs are shipped off to the US or European nations for a hefty profit. Nevertheless, brand-name drugs often come in costly.

Thus, if the higher cost of branded medicines is a concerning factor, one can avail the Bajaj Finserv Digital Health EMI Network Card to pay for the expenses of such treatment. This health card can benefit an ailing individual in several ways.

Unique benefits of a health card

A health card is a unique financial product that helps you pay for sudden, unplanned medical expenses. Users can avail quality healthcare services by utilising a pre-sanctioned limit on the card. After these bills are settled, cardholders can repay the used amount through no-cost EMIs.

This conversion of immediate medical liabilities into hassle-free EMIs is the biggest draw for the health card in question. Nevertheless, one can look forward to additional benefits from this tool as well.

Benefits for health card owners

1. Seek a wide variety of treatments or therapies

Regardless of the health problems that one suffers from, he/she can take advantage of the facilities of the health card to limit financial strain. It can help you pay for doctor consultations, medication expenses, cosmetic procedures, a diverse range of surgeries and treatments of up to 800 conditions. Moreover, one can seek alternative forms of remedy, such as homoeopathic treatments, with this health card as well.

1. Substantial spending limit

Card owners can spend up to Rs.4 lakh on medical expenses using this card. This considerable sum is sufficient in most cases and should help an individual avail the highest quality of healthcare available in India. However, keep in mind that the pre-approved limit is different for each applicant, based on eligibility and other factors.

Also, applicants need to pay a nominal fee to avail the card, whereby its insta variant comes with a one-time fee of Rs.707 and a non-insta variant comes with a fee of Rs.589.

1. Choose the tenor based on your repayment ability

After converting your medical liabilities into EMIs, you can also choose the number of EMIs you want to bear to clear the dues. The financial company is highly flexible in this regard, allowing one to choose a tenor ranging between 3 months and 24 months. Thus, another way in which you can curtail the repayment according to your spending power each month is by picking how long you want to repay.

Existing Bajaj Finserv EMI Network members do not have to provide any documents when applying for the health card. They can complete the entire application process online and start using the card instantaneously to make payments across 5,500 plus partner facilities situated in more than 1,000 cities in India.