Analysis of Civica Rx and Entrepreneurship Assignment

Analysis of Civica Rx and
Entrepreneurship
STUDENT NAME:-

Civica Rx and Entrepreneurship : Overview
• Entrepreneurship
• About the company
• Funding
• Challenges faced by the
company
• Potential Risks for the
company
• Conclusion.
• About Civica Rx
Introduction
• Funding
• Challenges
• Economic
• Political
• Legal
• Social and cultural
• Technological
• Environmental
Discussion
Potential Risks

Why is entrepreneurship needed?
• It can bring about innovative changes that is much needed
in the society.
• It adds significantly to the local economy and eventually the
nation.
• It is an addition to the current system or an improvement.
• Helps to create jobs, benefits the society by equal
distribution of wealth.
• Innovation and motivation to develop and grow.

About Civica Rx
• Civica Rx is a generic pharmaceutical company established in
September of 2018 with headquarters in Utah.
• It is an independent, non-profit organization , a joint venture of 7
organisation representing over 120 hospitals across U.S.
• Martin Van Trieste is the CEO of Civica Rx who is committed to
the organisation without any remuneration.
• The primary goal of this company is to stabilize the drug
shortage and provide affordable medicine to patients.
• It is an initiative of the FDA to overcome the drug crisis in
America which has led to deficiency in the patient care system
and escalated price of medicine.

Funding
• It is a non- profit organisation which is backed by 7 organisation Catholic
Health Initiative, HCA healthcare, Mayo clinics, Intermountain Health to
name a few out of the seven organisations have joined to fund the agency.
• Additional funding of $30 million dollars namely the Peterson Center on
Healthcare, the Gary and Mary West Foundation and the Laura and John
Arnold Foundation.
• Vizient a performance improvement company has also collaborated with
Civica Rx that will help the company anticipate gaps with its analytics and
data capacity (Civica Rx 2019).
• Martin Van Trieste is been named as the CEO of Civica Rx who has agreed
to lead this organisation without any compensation.
• The main benefactors and functionaries do not receive any compensation
for their work.
• This is an entirely philanthropic organisation.

Discussion
Economic:
• Drug crisis in U.S, led to inflation
of drug prices eventually all over
the world affecting the world
market (Hernandez et al 2019).
• Disruptive healthcare and slow
growth rate of the company.
• Pressure in drug pricing and
price transparency.
• No profit for the organisers as it
is a non-profit company (Civica
Rx 2018)
Political :
• American government has failed
to deliver transparent pricing of
drug leading to the drug crisis
(Saltzman and Eibner 2016). .
• Pressure from the global
government to ensure proper
pricing of drug.
• Advantage for Civica Rx as it
targets affordable healthcare
services.

Legal
• Needs to adhere to a common
code of conduct for all the
benefactors and collaborators
of the company.
• It should follow the legal
proceedings required for the
management of a non-profit
organisation.
Regulation and strict branding
to protect the brand counterfeit
products (Lavorgna 2015).
Social and Cultural
• Increased customer awareness in health
care.
• Preference for a patient centred treatment
plan.
• Malpractices by pharmaceuticals as a result
of which same drug is differently priced
causing inconvenience to the consumer
(Martí 2018).
• Obesity and its associated diseases is
crippling the society of America (Klaczynski
and Felmban 2019).
• Decrease in job accessibility due to obesity
leading to financial trouble for the patient.
• Rise of the older generation and health risk,
in accessibility for an affordable health care.

Technological :
• Civica Rx needs to have an
ecommerce, where more
people can access the site.
• Direct customer care and
intervention and boost
sales.
• Civica Rx needs to be
updated about various
health trends.
• Needs to maintain quality,
production and delivery of
products (Caputo et al).
Environmental:
• Needs to ensure proper
disposal of bio waste
• Control gas emission if any.
• Treatment of bio waste and
proper utilisation of
resources.
• Maintain rules and
regulation regarding
environment as imposed by
the American government
(Bielen 2017).

Potential Risk
• Analysis of the market trends related to the company and
anticipating potential gaps.
• According to studies, there is a tendency of fraud or embezzlement
of funds in regard to non-profit organisation, company should
practice caution and monetary transparency (Subaida, Musyarofah
and Prasetyono 2017).
• Economic stability, since it is a non profit organisation which is
dependent on donation and funds. It needs to ensure there is a
steady flow of funds.
• Medical crowd funding is also a common counterfeit trend, company
needs to be aware of this and follow precautionary measure.
• Hiring the right people for the job ensures smooth functioning of the
company.

Inauguration of Civica Rx in Utah.

Conclusion
Entrepreneurship is essential for any nation to grow, expand
and learn. It provides people with opportunities that can
benefit them and eventually contribute to the world. Civica
Rx is an innovative venture to address the issue of drug
crisis, deficiency in healthcare system and high labour cost.
The motivation behind the company policy is ambitious and
if successful it is going to bring an immense change in the
current American health care and eventually the world.

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