This article is contributed by HealthHarbor.com. HealthHarbor is a site devoted to helping people become smarter consumers of healthcare. One of its money-saving, interactive tools is the Discount Generic Drug Radar, allowing users to quickly find discounted generic drugs at pharmacies near them.
Lower the cost of your prescriptions
I was talking with a doctor the other day, and asked him what the most common desired outcomes are from his patients when they come to see him. He quickly said there were two reasons that rise to the top. First, they want to be assured that whatever they might have and whatever symptom they are suffering is not serious and that it will get better. Second, they want a prescription. Prescriptions have become synonymous with American healthcare, and as such are now a considerable part of most peoples’ medical budget.
Prescriptions have become a way of life for the adult generations in today’s world. While they can certainly make life better and are often a far preferable alternative to medical procedures, they can also come with a financial cost. Here are a few ways that you can lower the costs of your prescription drugs.
1. Don’t assume your doctor knows to keep cost in mind.
There is no shame is asking your doctor to work with you to save money. Physicians today are very familiar with the fact that different insurances and different formularies, and getting a drug that your insurer likes can save you a bundle. Furthermore, most physicians can quickly recall or research valid drug substitutes if they exist. Asking the simple question, “How can I treat my condition in the most cost-effective way” can shift your doctor’s thinking and help him or her team with you to save your health and your money.
While in many states, pharmacists have broad authority to help patients find suitable, cheaper drug equivalents, other states require a more strict interpretation of the doctor’s prescription. It is best to have the cost discussion with your doctor and make sure that your entire course of treatment is done with value in mind.
2. Always explore the generic option.
Anytime our family has to fill a drug, we ensure that the physician has used a generic option or written on the prescription that it is OK for the pharmacist to substitute a generic. Generics can save 50, 60, or even 70% versus what a brand-name drug can cost. Today, with the trend of discounted generic drugs for as little as $4 per month, generics are more affordable than ever and widely available at reasonable prices. What’s more, the past few years have been banner years for brand name drug patent expirations, meaning that drugs you could get as generic three years ago may be available in that form today.
3. Know your coverage.
A recent trend in prescription drugs has been that insurance plans and coverage have gotten more complex. When in the past, the only real question was “brand name or generic”, there now can be three or four “tiers” of drugs, each coming with a different out-of-pocket copay. What’s more, some drugs, if deemed more cosmetic or optional than medical, may not be covered at all.
If you find that prescriptions you routinely need are not covered or poorly covered, consider getting a signing up for a prescription discount program. While not an insurance, it is more like a co-op of people who band together to get better drug pricing. Such programs may be offered by cities for residents, by labor unions or employers, or even by pharmacy chains themselves.
4. Be sure to run the prescription drug cost through your Flexible Spending Account.
This seems obvious and should go without saying, but it is surprising how often we see people overlook this.
It makes sense to shop around for prescriptions and be sure you are getting your money’s worth. For many individuals and families, prescription drugs are the single largest medical expense after the health coverage itself. Any analysis of a personal spending budget should include medical costs, and prescriptions may be the medical cost that you have the most ability to reduce.
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as a former practicing physician, i would echo #1. physicians primarily prescribe based on: 1) past training and experience, 2) comfort level with side effects, 3) known data supporting its use. i think in this day and age, more physicians are becoming more cost-conscious and consider what insurance is covering, co-pays/co-insurance, but it is was not actively taught in medical school when i went. however, if a patient brings these issues up respectfully to their physician, i know (as i would) he/she would try to accommodate the patient’s needs (eg. prescribe a generic when i know it’s just as effective as a brand name, or find out what is covered by formulary, etc.)
You can always ask your doctor if there is a generic option. They may automatically give you the expensive brand name because they have a deal. Just ask.
Since there’s a bent toward prescriptions based on consumer preference, it might be worth asking the Dr if there’s a non-medication treatment to consider.
You can also ask the pharmacist if there’s an over the counter alternative. We’ve done this several times. Many of the OTC alternatives were prescription-only at one time, and may be as effective as the current prescriptions. You don’t want to do this on maintenance meds obviously (BP, etc) but it’s worth a shot on the one time meds, especially if you don’t have a prescription drug plan.
I have seen so many people having to fork over so much money for medications. You can definitely follow some of the great tips given on here. Speaking to your doctor is a great alternative because most of the time the doctor needs to be contacted because the cost of the medication from the pharmacy (trust me I know I work at a pharmacy)