Shopping for Drugs
Table of Contents
- Executive Summary
- Introduction
- Comparing Prices
- Therapeutic Drug Substitution
- Pill Splitting
- Generic Drug Substitutes
- Switching to Over-the-Counter Drugs
- Mail-Order Pharmacies
- Global Options
- Financial Assistance to Lower Drug Costs
- Price Comparisons for Specific Drugs
- Conclusion
- Notes
- Appendix
- About the Author
Comparing Prices
Consumers have never had more opportunities to obtain information about drugs and possible substitutes, and to compare prices. Shopping around town or on the Internet for price information can pay off.
"Prudent shopping saved consumers almost 10 percent on branded drugs and a whopping 81 percent on generics."
Local Pharmacies. In a Missouri survey conducted for the Heartland Institute, prudent shopping saved consumers almost 10 percent on branded drugs and a whopping 81 percent on generics, on the average. Moreover, prices within a single city differed by 3 percent to 16 percent for the same brand-name medication and by 39 percent to 159 percent for generic medications.4
Wider price variations for generic equivalents are not unusual. An example is the generic form of Prozac (Fluoxetine) used to treat of depression:5
- Many stores mark up Fluoxetine by 3,000 to 5,000 percent over its wholesale cost.6
- A survey in Pennsylvania found 100 20mg capsules selling for $18.18 at one store, and $286.99 at another; the average, across 13 stores surveyed, was $148.7
- A similar survey in Florida found Fluoxetine varied from $16.47 at one store to $267.19 at another.8
- A survey of central Kansas found the identical Fluoxetine prescription for as little as $12.69 and as much as $226.39.9
Interestingly, the surveys show that small independent pharmacies often have better prices for generic medications than the large chain stores.10
"Small independent pharmacies often have better prices for generic medications than the large chain stores."
Internet Information Services. A patient with a prescription can find a range of prices by checking a few Internet pharmacy Web sites. A unique Web site called DestinationRx.com collects prices from several competitive pharmacies, allowing consumers to compare prices without having to go to those individual pharmacy Web sites. The variation in prices can be considerable. At last check, they ranged from $118.15 to a mere $15.80 for a generic equivalent - a potential savings of more than $100 on one prescription alone.11
Rxaminer.com, cofounded by cardiologist Joseph C. Rogers, is a Web-based service that helps patients find medications that are comparable to but cheaper than the ones they currently take. Customers enter the names of medications and the dosages, and Rxaminer compares the medications, suggests substitutes (often two choices) and enables the user to print a report detailing potential savings from the substitutes. The patient can then discuss the report with his or her physician to see if a less costly medication is an option.
