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Save Money on Medication – Part 1

It’s possible to save up to hundreds of dollars on medications. And, you don’t have to go to Canada to do it! All it takes is a telephone and some awareness. I aim to give you that awareness with this article. You’re on your own for the telephone!

Like most people I have recently surveyed on this matter, I too once believed it was the pharmaceutical companies who set the prices for all medications. That was until I received an email forwarded to me by my sister. It called attention to the fact that it is the PHARMACIES themselves that determine the prices and not the companies. The email at that time identified Costco’s pharmacy as one of the cheapest.

So not too long after that, I had a patient whose insurance required she cover 30% of the cost of the medication. I called 5 different pharmacies to check prices. Two were national brand  pharmacies, one was a local pharmacy, one was a national discount store and the last was a Northeast brand grocery store with pharmacy services. The prices ranged from $692 all the way up to $900’s! Since my patient was paying 30% – that was a BIG difference.

As you can see, it pays to shop around. And, you can do it all over the telephone. Here’s how:

  • Step 1 – Make a list of a variety of pharmacies – some national brands, some local, grocery store connected, and even discount clubs if you’re a member. Have the name of the medication(s) handy – I would recommend no more than two different medications at one time.
  • Step 2 – Call them and say “I would like to check the cost of a medication. Could someone help with that?” Dependent on their answer you then state:  “I need to know what 30 days (or 60 or 90 days) of ‘name of medication’ at ‘dosage’ would cost”.  Write this down on your list and move on to the next one.

This isn’t the only way to save money on medications, but it’s a GOOD START. Keep reading our posts! We promise to reveal those secrets in another blog post.

 

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