Navigation Links
Three-Month Supply Lowers Drug Costs
Date:11/20/2009

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:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... ... 13, 2017 , ... Ellevate Network, the leading network for professional women, brought ... gender equality at their inaugural Summit in New York City in June. The event ... audience of over 3 million. To watch the Mobilize Women video, click here ...
(Date:10/13/2017)... ... 13, 2017 , ... Coveros, a leader in agile coaching ... contract by the Center for Medicare and Medicaid Services (CMS). The Enterprise Agile ... of Agile methodologies in a consistent and high value manner across CMS programs. ...
(Date:10/12/2017)... , ... October 12, 2017 , ... ... now treating sleep apnea using cutting-edge Oventus O2Vent technology. As many ... sleep disorder characterized by frequent cessation in breathing. Oral appliances can offer significant ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) will ... during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual ... F. Collen, a pioneer in the field of medical informatics, this prestigious award is ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader ... a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were ... 11, 2017. , The annual award competition recognizes editorial and design excellence across a ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... 2017 West Pharmaceutical Services, Inc. ... injectable drug administration, today announced that it will release ... Thursday, October 26, 2017, and will follow with a ... at 9:00 a.m. Eastern Time. To participate on the ... conference ID is 94093362. ...
(Date:10/10/2017)... Oct. 10, 2017  NDS received FDA 510(k) clearance in May ... battery-powered display stand specifically designed for endoscopy environments. An innovative secondary ... a clinical solution to support the improvement of patient outcomes, procedural ... ... ...
(Date:10/4/2017)... the Centers for Disease Control and Prevention (CDC), influenza vaccination should ... helping communities across Massachusetts , Connecticut ... shots through the end of the month. *Some exclusions apply ... ... is by the end of October, according to the Centers for Disease ...
Breaking Medicine Technology: