Price Checking Your Prescriptions
Thursday, July 9, 2015
You probably have your favorite pharmacy. You may not even hesitate when it comes time to go get your medications filled. But did you know that pharmacy prices can differ drastically even when located in the same area? If you need to make sure to save every penny you can, price checking before actually having your prescription filled may save you a lot. There are several factors that come into play to determine just what a pharmacy charges for a medication.
Perhaps the most major factor of what the consumer pays is what it cost the pharmacy to obtain prescription drugs at wholesale or otherwise. Larger pharmacies or pharmacies that have been in business longer tend to get the better deals. A lot goes on behind the scenes of any business and the prescription drug business is not exempt from this fact. Bids can actually be made on medicine purchases and contracts. One pharmacy in your town may get a slightly better deal that they can then pass along to you while another may pay full price. When a pharmacy is purchasing from a wholesaler, their sales volume may be taken into consideration too. A busier pharmacy that places more orders is more likely to be cut a better deal.
Another factor is the pharmacies’ business or overhead costs. Expensive rent or utility bills can drastically affect the cost of your medications and what the pharmacy needs to charge to make a profit. Private or independently owned pharmacies especially have to make sure to keep in the green so that they are able to stay in business. Chain pharmacies and their pricing are usually put into place by an executive team located elsewhere. So you may either pay drastically less or drastically more than the independently owned stores depending on what they think. They may take location, popularity of the drug, or other factors into consideration.
There are a lot of laws in place that govern what a medicine costs when an individual has insurance or a government based aid. Unfortunately, this is not so true for those that are just needing to pay cash. The determination of a medication’s retail price is complex and not necessarily transparent to the public. This means that you may not even know that you are paying an incredibly high price for the medications that you and your family so desperately need.
So the next time you go to get your medicine filled, make a few phone calls and ask about what the costs are. Be sure to mention your FreeRxPlus card and present it when you fill your medication for the best possible price rather you have insurance or are paying cash. FreeRxPlus also has a great pricing tool in place that allows you to search for your medications in your area and price check across multiple pharmacies using your discount card. So be sure to put more money back into your wallet and shop around! Visit FreeRxPlus.com now to print your free discount card and use the pricing tool today!
Posted by Free RX Plus at 1:56 PM