Tips for Saving Money on Prescription Drugs

Prescription drugs are a necessary expense, but one that’s hard to manage due to the escalating costs. Here are a few tips on how to save on your prescriptions from the president and CEO of Apothecary RX, Lewis Zeidner:

1. Fill your prescriptions at an independent pharmacy. In general, independent pharmacies have lower over-head and operational costs than the major national chains, allowing them to charge between 10 – 18 percent less on commonly used medications.

2. Consult your physician about alternate drugs. Often an alternate medication can offer comparable efficacy at a lower price. Ask your physician if a lower-cost alternate medication is available and appropriate.

3. Participate in manufacturer discount programs. Many drug manufacturers offer discount drug programs for qualifying individuals that can provide significant discounts on their prescription drug costs. Because these programs can be difficult to navigate, ask your pharmacist to assist you in the process.

4. Set up a payment schedule with your pharmacist. Loyal, long-term customers can often work out a payment schedule with their independent pharmacist that allows them to continue their medications without having to pay the total bill at the time the prescription is filled.

5. Request a generic alternative. Generic medications cost on-average 15 to 20 percent of what brand name drugs cost. Although generics are not available for every medication, they are generally available as an alternative treatment for many common ailments.

(photo source: Newscom)