According to IMS Health, a leading healthcare information and technology company, Americans spent $325.7 billion on prescription medications in 2012. Compare that to the amount they spent in 1990: about $40.3 billion. For sure, medications now represent a significant percentage of many people’s budgets. For some people who need medication, however, the costs of those drugs are simply too onerous to buy.
Dangerous Ways of Reducing Drug Costs
A recent “Consumer Reports” study detailed a phenomenon that probably seems obvious: When people can’t afford medications, they try to find ways to cut those costs. However, much of the time, those cost-cutting practices are dangerous. For example, they might:
- skip necessary doses of medication
- put off going to the doctor
- postpone medical tests
- share their prescriptions with others, or ask others to share their prescriptions with them
- slice their pills in half, and take half a pill at a time
Abandoning Prescriptions at Pharmacies
Another alarming trend pharmacists have been noticing in recent years is that of customers deciding to forego their prescription medicine. That is, when doctors prescribe certain medications to patients, they often neglect to mention how expensive those drugs are. Then, when patients discover the prices at pharmacies, they realize there’s no way that they can pay for them. Thus, these patients simply walk away.
In fact, doctors often write prescriptions without any sense of whether or not their patients can afford them. And 41 percent of the people who responded to the “Consumer Reports” survey said that their doctors routinely prescribed brand-name drugs over their more affordable generic counterparts.
Who Skips Medications the Most Frequently?
According to a recent study by the U.S. Centers for Disease Control and Prevention (CDCP), most of the people who skip their medications are under the age of 65, as people 65 and older can rely on Medicare to ease the costs of unaffordable prescription drugs. Further, and understandably, the cost of prescription drugs is a particularly pressing problem for people with low incomes and people who do not have health insurance. Indeed, about 25 percent of people between the ages of 18 and 64 have not obtained the medicine they need because they cannot afford it. In addition, about 20 percent of people living at or below the poverty line have likewise avoided filling their prescriptions.
When large numbers of people skip unaffordable prescription drugs, what are the effects on society as a whole? The number of seriously sick people rise, and emergency rooms therefore become much more crowded over time. The rates of otherwise-treatable heart disease, in particular, go up substantially. And many of the people in those emergency rooms are uninsured, which means healthcare costs will probably climb for everyone.
Cutting Prescription Costs Safely
However, if you find yourself worried about the price of your medications, be aware there are safe measures you can take. For example:
- Ask your doctor to prescribe a cheaper drug. Indeed, 20 percent of Americans, across the spectrum of ages and incomes, currently request of their doctors cheaper prescriptions, according to the CDCP study.
- Comparison shop. Researchers at “Consumer Reports,” for instance, found the same quantity of Lipitor being sold for $150 at CVS and $17 at Costco.
One of the most effective ways of comparing drug prices — and one of the easiest — is to go online and search for the drug you need. A great website for doing so is eDrugSearch.com. Not only is eDrugSearch.com a free portal for finding the cheapest prescription drug prices on the market, but it ensures that you’ll obtain medication that is completely safe to take.
About this Angie’s List Expert: Cary Byrd is the president and founder of eDrugSearch.com. Based in San Antonio, eDrugSearch.com is a free cost comparison engine that helps consumers get safe access to affordable medications and advocates licensed Canadian pharmacies as a widely accepted alternative.
Anyone who has to struggle with rising costs of medical care, prescription drugs, and medical devices should pay very close attention to the ultra-secret “Trans-Pacific Partnership trade agreement” supported and implemented by the Obama administration.
New Deal Helps Entities, Not Consumers
This Trans-Pacific Partnership deal could potentially cause a massive rise in drug prices, as well as the already high prices of crucial medical devices for patients around the world. The U.S Pharmaceutical companies have know about this deal long enough to spend company time shaping elements of the deal to increase their profits; now it’s time for the people of the world who rely on new medical technology and medication to survive to be given the information they need to ensure they can still afford these necessities.
The drug companies in the U.S make up a large part of the group of 600 advisers from the corporate sector that is responsible for writing the body of the new trade agreement. This agreement will benefit the drug companies by
- Extending drug patents
- Preventing competition from generic, low-cost drugs
- Granting intellectual property controls on drugs and medical devices
- Raising prices of select prescription drugs by up to 50%.
The Secret Heard (And Feared) Around The World
In a report which aired on Radio New Zealand, Medicines Sans Frontiers, a medical non-government group stated they greatly feared that the secret Trans-Pacific deal would shoot drug prices to reprehensible, unaffordable levels.
Secret talks regarding the deal finished up in Malaysia last week. According to the Straits Times, 14 peaceful protesters were arrested during the 18th round of talks; arrested for expressing their fears of medical monopoly by a few extremely powerful, multinational corporations.
Twelve countries have participated in the Trans-Pacific Partnership trade agreement talks that could greatly affect drug prices as well as the lives of the American people.
- The United States
- Canada
- Mexico
- Japan
- Vietnam
- Peru
- Chile
- New Zealand
- Australia
- Malaysia
- Brunei
- and Singapore.
This is not the first time the talks have occurred. George W. Bush vied for this trade agreement, but dropped the issue in 2008, after three talks. The TPP trade agreement was picked back up by President Obama in 2009. If the deal is signed, it will historically be the largest trade agreement ever negotiated, and 40% of the global economy will be represented by these measures.
Overcome Secrecy, Be Informed
Only a handful of the members of congress, including Rep. Alan Grayson, Florida, have been allowed to look over the draft of the Trans-Pacific Partnership trade agreement. Grayson was not surprised that the trade agreement was kept secret after he finished reading the draft. It appears that consumers may have to take matters into their own hands if they want to be able to afford their prescription drugs and medical devices.
Get Help Finding Lower Drug Prices, For FREE
eDrugSearch.com can help consumers save up to 80% on their prescription drugs. Drug prices are often too high for many people to afford. eDrugSearch.com will show you how to save money in three simple steps.
All you need to do is:
- Type the name of the drug you are looking for into the search bar
- Compare different drug prices
- Save money on your prescription drugs!
By using eDrugSearch.com, you can search for competitive prescription prices absolutely free, with no hidden costs or charges. Free services offered include
- Verified reviews of Canadian pharmacies and medications
- Prescription reminders via phone, SMS, or email
- Price comparisons of over 1000 different drugs!
Exercise Your Right To Low-Cost Medications
Though the pockets of the pharmaceutical companies may be lined, yours may not. Whether you have no health insurance or insurance that barely covers the costs of your prescriptions, you need to be able to purchase the medications you need without emptying your bank account each time a prescription needs to be filled.
eDrugSearch.com will help you exercise your right to affordable, low-cost medication. Visit today and start searching for your prescriptions and see how much you can save!
About this Angie’s List Expert: Cary Byrd is the president and founder of eDrugSearch.com. Based in San Antonio, eDrugSearch.com is a free cost comparison engine that helps consumers get safe access to affordable medications and advocates licensed online pharmacies as a widely accepted alternative.
It’s no secret that prescription drug prices are at an all-time high. Americans are spending just under $1,000 each year for prescription drugs. Listed below are the top five real reasons why these drugs cost Americans so much.
- You’re paying for all of the drugs in America.
- You’re paying for all of the drugs in the world.
- You’re paying for expensive marketing and advertising campaigns.
- You’re paying for somebody’s fat corporate bonus.
- You’re paying taxes on it too!
1.) You’re paying for all of the drugs in America.
Unfortunately, it’s impossible to just pay for one prescription. The cost of prescription drugs falls on everybody’s shoulders. Drug development is a vast and wide-reaching business. Drug prices cover research and development for a lot of drugs that may not even make it to market. Patients absorb those costs. It takes almost 15 years to bring a drug to market. Americans are paying for these drugs to be developed. Most of these drugs never see the light of day. In fact, only one in about 50 drugs will get to market and an even smaller percentage actually make profits.
2.) You’re paying for all of the drugs in the world.
Unfortunately, Americans subsidize drugs for the rest of the world too. Our high drug costs help to cover prescriptions drugs in third-world developing countries. Price controls are established in other countries. That means that pharmaceutical companies cannot legally raise drug prices. There is no price control in America. American pharmaceutical companies can raise prices legally, so Americans pay extra.
3.) You’re paying for expensive marketing and advertising campaigns.
Pharmaceutical companies are incredibly competitive. Pharmaceutical marketing is a multi-billion dollar business. Pfizer’s marketing budget was over $622 million dollars last year. A research firm, Cegedim, reported that total pharmaceutical industry marketing budgets were close to $28 billion in 2010. Marketing is more than just television and print advertisements too. The budget can also include money for online advertising, physician promotions and direct-mail campaigns. What happens when pharmaceutical companies misrepresent their products in marketing campaigns? Consumers also pick up the tab for expensive lawsuit settlements.
Different Types of Pharmaceutical Marketing Strategies and Campaigns
- Print advertising
- Television advertising
- Online advertising
- Direct-mail campaigns
- Targeting doctors
- Turning patients into consumers
4.) You’re paying for somebody’s fat corporate bonus.
It’s no secret that the big pharmaceutical industry is rolling in money. Prescription drugs are a profitable business. Drug prices go up, and corporate executives get large bonuses. In fact, pharmaceutical companies continue to make record-high profits, even during a recession. Pfizer ranks at the top of the Dow index, with an incredibly high profit margin of almost 27 percent. Pfizer isn’t even the pharmaceutical company with the highest profit margin either.
5.) You’re paying taxes on it too!
It comes as no surprise to most Americans, that they are also paying taxes on these prescription drugs. Drug prices are high for a variety of reasons, and taxes don’t help the situation. Consumers can’t expect taxes to be paid from billion dollar corporate profits or large marketing budgets. Unfortunately, big pharmaceutical companies are passing the buck onto the consumers.
This may be disturbing news for many Americans who are already paying close to $1,000 out of pocket each year due to rising drug prices. The good news is that in 2012, Americans actually spent about one percent less on prescription drugs than in recent years. There is hope for patients who are under-insured or uninsured. Shoppers should consider checking prices at eDrugSearch.com. Since 2006, eDrugSearch.com has been helping the under-insured and the uninsured get safe access to affordable medications. By using eDrugSearch.com’s free drug price comparison tool, you can expect to save between 50 and 80 percent off of U.S. retail prices.
About this Angie’s List Expert: Cary Byrd is the president and founder of eDrugSearch.com. Based in San Antonio, eDrugSearch.com is a free cost comparison engine that helps consumers get safe access to affordable medications and advocates licensed online pharmacies as a widely accepted alternative.
Taking prescription drugs can have amazing benefits to help curb or eliminate the symptoms of many diseases and disorders ranging from diabetes and high blood pressure to unhealthy cholesterol levels. But prescription drug prices that seem to be constantly escalating can prove a hardship to many individuals and families. It pays to become a savvy consumer in order to avoid feeling financially strapped paying for the prescription drugs that benefit your overall health. Here are 5 easy tips to beat rising prescription drug prices.
1. Ask your doctor if you can substitute a generic drug for a brand name prescription drug. Many generic drugs that do the same job as more expensive brand-name medicines can end up costing you only one-fifth as much as their more costly counterparts and you still get the same good results. Generics pass the same strict scrutiny from the FDA and are safe to use. If there is not a generic brand of the prescription medication available for something you are using, ask your doctor if he can prescribe an alternative drug that is more affordable if his original prescription proves to become a financial hardship for your budget.
2. Don’t be afraid to compare prices when shopping for prescription drugs, which are just like any other commodity you want to get the best price and value for. Websites such as eDrugSearch.com can prove to be an invaluable resource to help you compare prescription drug prices. Spending a few extra minutes doing comparison shopping will show you how widely drug prices for prescription medication vary from one source to the next and you can easily find yourself saving hundreds if not thousands of dollars because you located a cheaper yet just as reliable source for your medications as your local pharmacy.
3. Ordering your prescription medications online not only saves you time but also money. It can be a drag to stand in line at the pharmacy counter at your local drugstore to give in your prescription form only to be told to come back at a later time to pick up your order. Online prescription drug orders can be done in the privacy and comfort of your own home and your order can be shipped directly to your doorstep.
4. Ask about financial assistance programs to help you beat rising prescription drug costs. Search the internet for cost-free programs and reduced-cost programs you may qualify for depending upon your income, your financial circumstances and your age.
5. Invest in an affordable health insurance policy that covers all or some of your drug costs. In addition to beating rising prescription drug prices, you’ll also be entitled to use your insurance on doctor visits and other medical tests and procedures when necessary.
About this Angie’s List Expert: Cary Byrd is the president and founder of eDrugSearch.com. Based in San Antonio, eDrugSearch.com is a free cost comparison engine that helps consumers get safe access to affordable medications and advocates licensed online pharmacies as a widely accepted alternative.
When you’re searching for the best ways to find medications, one of the major factors that will come into play is the cost. As you already know, medicines can be pricy, but using our drug price list will absolutely save you some money.
The Basics
In fact, when people use our drug price list, they save 72 percent, on average, off of the standard retail price. This is a huge amount. If your medication was going to cost you $50, it would not only cost $14, based off the average. This gives you more money to spend on other necessities related to your health. When you search this list, you will have access to more than 20 pharmacies as well.
Finding a Location Near You
Of course, you want to save money; however, you do not feel like driving around to a bunch of different pharmacies. This statement holds even more truth when you’re not feeling well. Fortunately, with this drug price list, all of the information is neatly presented before you. Instead of dragging yourself, or a sick child, from store to store hop online and find the place closet to you with the best drug prices.
Purchasing Medications from a Reputable Source
One of the fears that people have when they use online sources is to whence they are being sent. When it comes to medications and prescriptions, you do not want to be purchasing them from a vendor on the street. Fortunately, this drug price list understands your needs and concerns. All of the pharmacies listed on it are licensed dealers. As a result of this thorough investigation and search by the makers of the drug price list, you can know that you’re purchasing medication from a safe and reliable dealer who has your health interests in mind.
Having a Choice in the Matter
Sometimes, when you search for the “best pharmacy” or the “least expensive pharmacy,” you will receive only one or two options. This is very limiting, especially if none of the stores are located in your immediate area. Fortunately, with this drug price list, you’ll have more than 20 different options. Instead of feeling confined to one choice or having to drive quite a distance to receive medication, you’ll find a pharmacy that makes sense for you and your needs.
When you’re in need of medications and don’t want to spend too much money, be sure to use this helpful drug price list.
About this Angie’s List Expert: Cary Byrd is the president and founder of eDrugSearch.com. Based in San Antonio, eDrugSearch.com is a free cost comparison engine that helps consumers get safe access to affordable medications and advocates licensed online pharmacies as a widely accepted alternative.
As many of you may have already noticed, there has been an increase in how much you pay for your drugs. Although inflation remained flat for the year ending in March 2010, the prices for brand-name drugs went up nearly 10 percent, according to AARP.
A recent report on prescription drug prices from The Sun News,
“Last year, the inflation rate was 0.3 percent, but drug prices went up over 9.7 percent,” said John Rother, executive vice president for policy at AARP. “That’s quite a contrast.”
And the price hikes don’t just affect people on Medicare.
Rother says the population aged 50 to 64 represents the biggest increase in people taking drugs, and for some of the most common conditions, such as high blood pressure and diabetes.
“The compounded effect is to raise the cost of prescription brand-name drugs way beyond people’s ability to pay,” he said, “particularly if they don’t have insurance.”
The rise in drug prices have really cut into the budget of many all over the US. In South Carolina for example, 713,000 people pay nearly 30 percent of their income on out-of-pocket medical costs including drugs.
The rise in prescription prices is being blamed on no countervailing pressure in the industry.
John Rother, executive vice president for policy at AARP says drug companies raise prices because “there is no countervailing pressure.” Moreover, he says, on average, the industry’s profit margin is about 20 percent.
“We want them to succeed, to be innovators,” he said. “But there’s a need to balance that with reasonable costs.”
Until a true solution can be found, Rother recommends that consumers should try to substitute generic drugs when possible, however not every drug has a generic equivalent available.
We recommend that you take full advantage of the resources here at eDrugSearch.com and join the community of educated consumers that are saving drastically on their prescription medications.
Not only will you find the safest pharmacies with the cheapest drug prices, you will also be able to save an additional ten percent off your drug orders by simply participating in our online community.
The eDrugSearch.com e-book “99 Ways to Save Money on Your Prescription Drugs, 2012 Edition” is now available on Scribd, where you can see a preview of the book’s first 4 pages before purchasing.
Check it out and start saving on your prescription drugs now!
eDrugSearch.com’s 99 Ways to Save Money on Your Prescription Drugs 2012 Edition
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