Health care is a hot topic of conversation lately in politics since the Affordable Care Act and now numerous methods of reform are being discussed. But also with regard to the economy since the cost of care seems astronomical lately. Many argue that one of the drivers behind a lot of that cost increase is prescription drugs.
According to data analyzed by 3 Axis Advisors (a health care research firm), retail prices for 460 prescription drugs are increasing by an average of 5.2% in 2020 – more than double the projected rate of inflation for the year. Many manufacturers are raising the prices on existing drugs as well, so it isn’t just new therapies being introduced.
While patients typically don’t have a say in the diagnosis or treatment plans they receive from medical professionals, they do have a choice (and a right) to look into where they get prescription medications from. You, as the patient, owe it to yourself to do a little bit of research and get your drugs at the lowest cost possible to you.
Here are a few ideas to explore so you can be sure you’re doing all that you can as an advocate for yourself:
• Sourcing for lower cost – A common misconception is that one drug will cost the same regardless of where you have the prescription filled… Publix, CVS, Walgreens, Winn Dixie, etc. There are tools such as GoodRx that allow you to search specific drug names and find the cost at different retailers in your area.
• Coupons – There are websites online, the manufacturer itself, and retailer coupons that can provide significant savings. Some pharmacists will check for coupons on your behalf but not always.
• Websites such as Drug Store Unlimited that get drugs from other countries can also save money.
• Patient assistance programs – Ask your doctor about programs available in your area that may offer advice and guidance, more so with Medicare but also for individual health plans.
Just a few minutes of your time before you fill your next prescription could be very beneficial to you.