Prescription Costs: How To Get Prescriptions Cheaper

Have you experienced the “how much” moment at the pharmacy counter? We’ve all likely faced the moment of truth when we found out how much our medication costs. The sticker shock experienced has us wondering how can we get our prescription medications cheaper?

This month we will discuss prescription medication costs, why prescription costs can vary, and and ways to help you spend less on your medications.

Prescription Medication Costs

Prescription medication costs are higher in the US than other comparable countries. In 2022, the US spent more than $1,000 per person on prescription medications.

If you think prescription medication costs are too high? You’re not alone:

• Three out of four adults in the US think prescription medication costs are not affordable.
• A report from the US Department of Health and Human Services reported that 1,216 drug prices increased faster than inflation, averaging in an 31.6% price increase.

If you’ve ever skipped a medication dose or cut a dose in half, trying to make your current prescription medication last longer, or didn’t fill your prescription, or maybe you’ve taken an over-the-counter medication instead of your prescription medication. You’re not alone:

• One in three Americans don’t take their prescription medications as prescribed because of costs. Not taking your medication as prescribed may decrease optimal medication effectiveness and increase treatment failures.

Do you wonder why prescription medication costs are high? You’re not alone:

What Effects Prescription Medication Prices

• How Drug Advertising Impacts Pricing:

Drug manufacturers advertise specific medications to encourage consumers to ask their doctors for those advertised prescription medications, boosting demand. Advertised prescription medications tend to be more expensive.

• The Cost of Drug Research & Development:

Drug manufacturers claim the expense to develop new drugs drives prescription medication costs. While that may be true, one study published in 2022 found no association between drug research and development and prescription drug costs.

• The Role of Pharmacy Drug Managers (PBMs):

PBMs, who negotiate drug prices with health insurers and pharmacies, have fees and incentives contributing to the costs of prescription medications.

• How Insurance Cost-sharing Impacts Prescription Pricing:

Shifted costs to the consumer through insurance cost-sharing with higher co-pays, deductibles and premiums contribute to higher costs.

• The Cost Of Drug Patents:

Drug manufacturers’ extension on current patents or purchase of older patents can affect drug prices.

• Medication Manufacturer Costs and Shortages:

Increased manufacturer costs and shortages may affect prescription medication costs.

Do you wonder how to get prescription medications cheaper? You’re not alone:

Tips to Spend Less and Get Prescriptions Cheaper

• Ask your provider to review all your medications for medical necessity. Can you safely reduce the number of medications prescribed or decrease the dosage?
• Talk to your provider about lower cost medication options, including generic medications.
• Consider requesting a 90-day supply instead of a 30-day supply for possible cost savings.
• Consider using on-line or mail-order pharmacy to reduce costs.
• If you have insurance, ensure your medication is on the drug formulary, the list of approved medications for your insurance health plan.
• If you have a prescription insurance plan, you may be eligible for manufacturer coupons to decrease medication costs.
• Many drug companies offer patient assistance programs that help with reduced-cost or free medications. Access the drug website for specific qualification requirements.
• Compare drug prices at different pharmacies online using Visory’s prescription price search tool and consider paying cash to decrease costs using your Visory Health Discount Prescription Card.

With over 10,000 discounted medications, Visory Health works directly with pharmacies to decrease your prescription medication costs with up to 80% savings.

At Visory Health, we understand the burden that prescription medication costs can place on our Visory Community.

We see you and we hear you. Your Visory Healthcare Team wants you to be as healthy as possible and continue taking your prescribed medications at affordable prices.

To Your Health,

Dr. Creamer

DNP, MSN, MSS, MA

This article is not medical advice. It is intended for general informational or educational purposes only. It is not a substitute for professional medical advice, diagnosis or treatment. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition, diagnosis or treatment. If you think you have a medical emergency, immediately call your physician or dial 911.