Saving money when you're paying out-of-pocket for prescription drugs
I always found it strange that people wouldn't shop around for the best price when they lack prescription insurance. But then, the more I thought about it, the more it seemed somewhat logical that people would think that way. With the third-party copayment system, it doesn't matter where you go to fill a prescription: it's always going to be the same price. That price is something that's worked out between the insurer and the corporate office of whatever chain you're filling your script at. This is why if you ask someone at the pharmacy why your prescription costs $X, they tell you to call the insurance company. They're not being lazy or unhelpful — they truly don't know the answer.
In any event, not all pharmacies charge the same prices for drugs when there's no third party involved. Such is the subject of this Motley Fool article. It advises people to shop around when they're paying for their meds out of their own pocket.
I've personally advised people to shop elsewhere when they're buying something expensive. It's not good for the bottom line, but I can live with fewer pennies in my pocket and my ethics intact. Some people don't care — they like coming to our pharmacy, and I'm happy to have them there. But for those who are hard up financially, I think it's better to advise them to look elsewhere for a better bargain.
- For 40 mg. of Nexium (quantity: 30), I found a price of around $140 at a Wal-Mart, $155 at a CVS, $267 at Suncoast Pharmacy, $173 at a Walgreens (and, oddly, more than $500 and $800 at two other Walgreens).
- Between CVS and Walgreens, you could save $6 to $8 on an order of Singulair and $13 on an order of Zocor.
(I should also note that not all prices are created equal within the same chain, though they do tend to be similar based on the region of the country that the pharmacy is in.)
[tags]Medicine, pharmacy, ethics, economics, healthcare[/tags]
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