Tags: Health Topics | prescription drug prices | healthcare

How to Save Money on Rising Drug Prices

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By    |   Friday, 27 December 2019 11:10 AM

According to GoodRx, it's no secret that every January, drug manufacturers increase the price of their products. The company operates a free-to-use website and mobile app that track prescription drug prices in the United States and provide free coupons for discounts on medications. To help consumers compare the prices of their drugs and view the price hikes, GoodRx has created an informational page that they will update frequently as needed during the month of January 2020.

"Last year, 486 brand drugs increased by an average of 5.2% during January 2019," notes Tori Marsh, Health Insights Analyst at GoodRx. "In January 2018, 580 brand name drugs increased by an average of 8%."

Doug Hirsch, co-CEO of the company, says that 2019 has been a "frustrating year when it comes to healthcare costs."

"Despite the endless headlines, healthcare remains out of reach for too many Americans," Hirsch notes. "For example, 2019 saw the introduction of America's first $2 million drug, Zolgensma. It's crazy, yes, but I don't think we have reached the ceiling yet."

Marsh offers these tips for Newsmax readers on how to save money on healthcare in 2020:

  • Always research discount prices. Some drugs will cost your more with insurance than if you use a coupon or pay cash.
  • Try a manufacturer coupon or patient assistance program. Discount coupons and patient assisted programs can help you save. GoodRx has the largest database of copay cards of over 700 medications. To find one, search the name of the drug on GoodRx and scroll down to see if there is a copay card for your drug under "Ways to Save."
  • Ask your doctor for a 90-day prescription. You may find that filling a 90-day supply will reduce your total cost for the prescription. As an added bonus, you will make fewer trips to the pharmacy.
  • Practice preventative health care. Don't wait for a major health crisis to crop up before seeing a physician. Make sure you get regular screenings and checkups. This helps avoid costs for last-minute or urgent surgeries and/or costly treatments.
  • Take advantage of telemedicine services. You can save both time and money using telehealth primary care services, including lab testing, refill of preventative and chronic medications, and treatment for acute medical conditions. Services like GoodRx Care allow patients to see a board-certified medical professional for conditions like a urinary tract infection or erectile dysfunction for only $20, all from the comfort of home. Hirsch says that 2020 could be the year when telemedicine really makes a breakthrough. "Only about 4% of patients have tried telemedicine but as the physician shortage increases and Americans find it more difficult to see a doctor, remote medicine will offer patients access to better health care and enable them to find it on their own," he said.

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According to GoodRx, it's no secret that every January, drug manufacturers increase the price of their products.
prescription drug prices, healthcare
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2019-10-27
Friday, 27 December 2019 11:10 AM
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