Shop Around For Best Prices On Prescription Drugs – Frugal Challenge
You know the saying; “Never assume.” I was reminded of this by a friend recently who filled a prescription.
My friend Patti over at RemarkableWrinklies.com knows about watching her budget. She, like many others, pays for her prescription medications out-of-pocket.
When it comes time to fill a prescription, there’s a lot of price checking and negotiating going on. However, everybody gets lazy, and it can cost you. Here’s a lesson Patti wants to share:
“Watching every penny is important for most household budgets, ours included. So when it comes to more than a couple pennies, it gets really important. Prescription drugs can cost a lot of money.
My lesson in filling prescriptions as frugally as possible occurred a little over a month ago. That lesson is, in so many words “don’t trust what you hear.” I heard that a certain “members only” pharmacy had the best prices, because, after all, they’re huge. Which makes sense. Quantity should equal lower prices.
Rather than check around anywhere else, I made an assumption that the information was correct. I marched over to the pharmacy mentioned and filled my prescription, assuming that it was less expensive than anywhere else.
A few weeks later, I happened to be in another large store with a pharmacy and got curious. I asked the pharmacist for the price on that particular medication and he was quite happy to oblige, and presented me with a printout with the price of the medication. I was surprised to say the least. The price for the prescription in this particular store was 10% less than the larger competitor’s pharmacy.
After that, I decided to check around other pharmacies in the area and see what I could come up with. The price difference was staggering! Anywhere from 10% cheaper to 50% more expensive! When I had all my figures together, I went back to the pharmacy that was 10% cheaper and had them switch the prescription over to their store.
These are the pharmacies I compared, because they are the ones that are available to me:
- CVS
- Publix
- Sams Club
- Target
- Walgreens
- Walmart
I can’t assume that the same price difference occurs in all areas, so I won’t tell you which pharmacy was the least expensive. I will say, however, that you should not assume that the biggest will be the cheapest. Also, every area is different and offers different pharmacies, so you’ll have to do your own checking.
Which is my point. You have to do your own checking. Don’t trust someone’s opinion about where you should go for the cheapest prescription medications. It will take some leg work; many pharmacies won’t give you the information over the phone. You may need to take your prescription around with you and go to each pharmacy before you decide. Is it worth the gas money? Well, one pharmacy is walking distance from my house but the price is 50% higher than the lowest price. Because this is a prescription that I’ll need to fill every month, it’s a significant savings. Don’t get lazy – it could cost you a lot of hard earned money.”
We all make assumptions. Like bigger stores offer bigger savings. That may or may not be true. However, as Patti found out, it’s not always the case. All I can do is repeat: Don’t get lazy – check before you pay out that money you work so hard for.
p.s. There are also many discount cards available for prescription drugs. Ask at the pharmacy before you decide to fill your prescription there. Be honest and tell the pharmacist that you need to check prices before you fill the prescription. They want to work with you so that you’ll keep coming back. Click here to learn even more ways you can save money on your prescription medications.
Tags: lower priced prescriptions, shop around, shopping for lower prices
April 5th, 2010 at 9:18 pm
The dosage size can make a big difference in price as well. My husband takes one medication in a common size dose and his prescription cost 7% (not 7% less) of what mine did of the same medication in half the dosage size. My doctor kindly rewrote my prescription so I can get the higher dosage and split the pills, taking 1/2 a pill.
April 7th, 2010 at 7:04 am
In the state in which I am employed, the pharmacy is expected to give drug prices to the patient when queried ~ it is written into our statutes. It does not specifically say the method of delivery (whether via phone or otherwise). I am not privy to the information in other states, but I imagine many would hold to similar requirements.
Just a few more tips for saving on Rx prices ~ always see if there is an FDA-approved generic available. If so, the generic version often saves you a great deal of money. (Be careful in ’switching generics’ if you are on a narrow therapeutic index drug (i.e. warfarin, digoxin, etc.) because it is important to stay on one brand to maintain steady levels.) Also, as the first commenter noted, many medications may be split, and therefore, the physician could write an Rx out for double the strength and instruct the patient to take a 1/2 tablet. (Note: not all medications can or should be split ~ check with your physician or pharmacist first).
And lastly, by all means shop around! I happen to work for a large/chain retailer, and we give out many price quotes. We also match prices in many instances. However, if for some reason we are not the least expensive, I, personally, would rather have the patient go to the pharmacy that is the cheapest to fill their medication! Also of note, pharmacies are not allowed to call other pharmacies for prices, but the patient’s can! So, literally just a few phone calls could save you a lot of money, as this article suggests. In my area, there is a wide range of prices. If you go to “Company X” pharmacy in one town, chances are the price may slightly vary from “Company X” pharmacy in the neighboring town!
Great article.
May 11th, 2010 at 2:13 pm
We have a new program that saves a average of 53% off medications! I have seen several people save $100+ a month, my mom is one of them
Here is my email if you are interested chuck@myzani.com.
Blessings,
Chuck…