Navigation Links
Three-Month Supply Lowers Drug Costs

Consumers save up to one-third buying 90-day supply, study finds

FRIDAY, Nov. 20 (HealthDay News) -- Buying a three-month supply of prescription drugs is up to one-third cheaper than buying a one-month supply, according to a new study.

U.S. researchers analyzed 26,852 prescriptions filled for 395 drugs between 2000 and 2005, and found that patients who bought a three-month supply instead of a one-month supply saved an average 29 percent in out-of-pocket costs. After the researchers factored in third-party payers such as Medicare, Medicaid and insurance companies, total savings averaged 18 percent.

The average monthly out-of-pocket expense for a three-month supply was $15.10, compared with $20.44 for a one-month supply. The average monthly total costs were $37.95 and $42.72, respectively, the researchers found.

About 44 percent of the prescriptions analyzed in the study were dispensed in three-month supplies and the rest in one-month supplies. If all the prescriptions in the study had been dispensed in three-month supplies, the total out-of-pocket savings would have been about $148.6 million, and total saving would have been $245.1 million, the study authors explained.

The findings are published in the Nov. 20 issue of the journal Applied Health Economics & Health Policy.

"These savings may not seem large to some, but they could help trim the cost of health care, which is especially important given the nationwide debate about how to finance health care reform," study senior author Dr. G. Caleb Alexander, an assistant professor of medicine at the University of Chicago Medical Center, said in a university news release.

Prescription drugs account for only 10 percent of the nation's total health care costs but are one of the fastest growing expenses and affect a large percentage of patients.

"No matter what any health care reform package looks like, millions of Americans are burdened by prescription drug costs, and this is one important way to help relieve that burden," Alexander said. "Other methods to lower prescription drug costs include substituting generic drugs for brand-name drugs and discontinuing non-essential medicines."

More information

The U.S. Food and Drug Administration has tips for saving money on prescription drugs.

-- Robert Preidt

SOURCE: University of Chicago Medical Center, news release, Nov. 20, 2009

Copyright©2009 ScoutNews,LLC.
All rights reserved

Related medicine news :

1. NASDAQ Gives Dynatronics a Second Three-Month Extension for Minimum Bid Price Compliance
2. NASDAQ Gives Dynatronics a Third Three-Month Extension for Minimum Bid Price Compliance
3. AWWA, National Association of Water and Sanitation of Mexico, Agree to Share Expertise and Resources for Improved Water Supply
4. American Red Cross Issues Blood Supply Alert
5. Wedgewood Pharmacy and Midwest Veterinary Supply Sign New Agency Agreement
6. Martek Signs Multi-Year Infant Formula License and Supply Agreement with Alter Farmacia
7. Simplex Diabetic Supply, Inc. Secures $50 Million in Growth Equity from New Enterprise Associates
8. Dieticians & Nutritionists Report Decreased Confidence in Food Supply
9. Substantial costs and underreporting of dengue fever, concerns about blood supply face US
10. Osteotech Completes Tissue Supply Agreement With LifeNet Health
11. Pall launches new products to increase supply of safe blood
Post Your Comments:
(Date:11/25/2015)... ... November 25, 2015 , ... For the first time, Vitalalert ... Organizations, One Beat ” campaign. The partnership between the two groups began in 2014 ... MAP International’s cause. , MAP International was founded in 1954 and is an international ...
(Date:11/25/2015)... ... ... On November 25, 2015, officials of Narconon Arrowhead , the drug rehabilitation ... new cutting edge recovery program that has been 50 years in the making. ... with the purpose to free addicts from the symptoms and negative behaviors of addiction. ...
(Date:11/25/2015)... ... ... Smiles by Stevens is pleased to announce the addition of Botox® for ... aware of the benefits of Botox® in the treatment of moderate facial wrinkling, few ... and pain as a result of Jaw Tension, TMJ (temporo-mandibular joint) disorder, and Bruxism ...
(Date:11/25/2015)... ... November 25, 2015 , ... In an ongoing Clinical Study conducted by an ... IL, UV Angel is evaluating the efficacy of its product and its disinfection protocol. ... 30 beds) from May 2014 through October 2015 at a 360-bed, acute-care, academic medical ...
(Date:11/25/2015)... Spring, Md (PRWEB) , ... November 25, 2015 ... ... Pulmonary Hypertension Association (PHA) announces the nation’s Periwinkle Pioneers, individuals and groups responsible ... history of this disease. The Periwinkle Pioneers, nominated by the public, will receive ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... 2015 Kitov Pharma ceuticals ... a biopharmaceutical company focused on the development of therapeutic ... today announced the closing of its previously announced underwritten ... ), each representing 20 ordinary shares of the Company, ... ADSs and warrants were issued in a fixed combination ...
(Date:11/25/2015)...  Today AVACEN Medical announced the issue of United States patent No. ... ". This patent shields the company,s AVACEN 100 dry heat therapy medical device and specific methods ... Photo - ... ... ...
(Date:11/25/2015)... , Nov. 25, 2015 USP 800 ... drug preparations (e.g. pharmacists, pharmacy technicians, nurses, physicians, ... technicians). The chapter also covers all entities which ... pharmacies, hospitals, other healthcare institutions, patient treatment clinics, ... --> --> What is ...
Breaking Medicine Technology: