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:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all ... brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway ... call for a minimum wage raise to $12 an hour by 2020 and then adjusting ... restore the lost value of the minimum wage, assure the wage floor does not erode ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine presented its ... Emergency Medicine conference in Ponte Vedra Beach, FL. The awards honor the outstanding ... Medicine Practice and Pediatric Emergency Medicine Practice. , “With this award, we ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® & Innovative Solutions ... initiated cultivation and processing operations at its production facility, and opened its first ... is the manufacturer of a complete system of proactive air and surface purification ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... , June 24, 2016 The Academy of ... recommendations that would allow biopharmaceutical companies to ... entities that make formulary and coverage decisions, a move ... of new medicines. The recommendations address restrictions ... appear on the drug label, a prohibition that hinders ...
(Date:6/24/2016)... -- According to a new market research ... Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, 8mm, ... Purchase (Retail, Non-Retail) - Trends & Global Forecasts to ... for the forecast period of 2016 to 2021. This ... 2021 from USD 1.65 Billion in 2016, growing at ...
(Date:6/23/2016)... 23, 2016  MedSource announced today that it ... software solution of choice.  This latest decision demonstrates ... to their clients by offering a state-of-the-art electronic ... establishes nowEDC as the EDC platform of choice ... clients.  "nowEDC has long been a preferred EDC ...
Breaking Medicine Technology: