Shopping for Drugs: 2004
Table of Contents
- Executive Summary
- Introduction
- Comparing Prices
- Therapeutic Drug Substitution
- Bulk Buying
- Pill Splitting
- Generic Drug Substitutes
- Switching to Over-the-Counter Drugs
- Weighing the Cost and Benefits of a Drug
- Case Studies: Price Comparisons for Specific Drugs
- Buying Drugs Abroad
- Special Opportunities for Seniors: Medicare Discount Drug Cards
- Financial Assistance to Lower Drug Costs
- Conclusion
- Notes
- Appendix
- About The Author
Conclusion
Drug therapy is the most effective treatment for many illnesses, but drugs can be expensive. The cost can be especially high for seniors with chronic conditions, and those without health insurance or drug coverage. Yet most patients can easily lower their annual medicine bills through smart shopping. Patients who have prescription drug coverage have little incentive to be wise consumers. Still, they should note that while drug coverage by an insurer makes the high cost of pharmaceuticals easier to bear at the time of purchase, yearly premium increases are partly due to the lack of cost control.
Consumers can use a number of strategies to lower their drug costs. Which are appropriate will depend on their medical conditions and circumstances. But if patients treat drugs like other consumer goods — by informing themselves, shopping among alternatives and comparing prices, they are almost assured of lower drug bills.
NOTE: Nothing written here should be construed as necessarily reflecting the views of the National Center for Policy Analysis or as an attempt to aid or hinder the passage of any bill before Congress.
