Medical Care Services Becoming Money-Making Machine in Human Society Under Physicians Headship in Today’s World: A Pestle Analysis

Abstract

In today’s world, people mostly behave with business mentality without considering moral obligations in society. These behavioral changes have been influencing service-market, particularly Medical-care service market which becoming vulnerable year after year. In supplying medical care services, the doctor or hospital receives capitation payments, fees-for-services, risk pool settlements etc. However, today it is probably the most criticized profession in world-economy country-wise such as Bangladesh. Sometimes here doctors’ professional activities are assumed to be related to promotional activities of pharmaceutical products by writing lengthy prescriptions. Sometimes doctors here are blamed for requiring unnecessary tests of patients. Here the existence of “asymmetric information” dominates the medical-care market where doctor takes advantages in multi-faucets. It causes market inefficiency that creates negative economic externalities i.e., deadweight loss. This situation is not just in one country. It is in economy country-wise such as Bangladesh. Today, the global medical-care system is transitioning into a highly financialized, commercial enterprise, with physician-leaders frequently tasked with reconciling ethical patient care with aggressive profit-driven demands. A PESTLE framework analysis reveals that this shift is propelled by corporate lobbying, high-margin economic strategies, and technological integration focused on volume, necessitating regulatory reform to balance commercial interests with patient-centric care. Improving medical education with special emphasis on ethical aspects and soft skills in communication are considered important in aiming to reduce the magnitudes of today’s dilemma in the medical-care service market. Also, strict enforcements of medical-care provisions and ethical code of conduct among all health works can be instrumental. Finally, the answer to the question “Do doctors work for patients or something else, depends on who are asked. But the reflections of today’s medical-care-market in economy of Bangladesh are no deniable, which deserves to be studied further curtailing the magnitudes of the problem.