YONKERS, N.Y., March 28, 2013 /PRNewswire-USNewswire/ -- Consumers who don't shop around for their prescription drugs may be overpaying BIG time, explains Consumer Reports in its May issue. Failing to comparison shop could result in overpaying by as much as $100 a month or even more, depending on the drug.
Consumer Reports compared drug prices for five blockbuster drugs that have recently gone generic, including heart drugs Lipitor and Plavix, finding that Costco offered the lowest retail prices overall and CVS charged the highest. The report is available wherever magazines are sold and online at www.ConsumerReports.org.
And while Costco is a good bet for low drug prices, consumers may find a good deal too at their local independent pharmacies. "A consumer can't assume that the price of their prescription medications is set in stone. One of the big takeaways is that you have to ask for the best price and see if your pharmacist will work with you. Especially for the independent pharmacies, if they want to retain your business and loyalty, they will help you get the best price," says Lisa Gill , editor, prescription drugs, Consumer Reports.
One reason for the wild cost fluctuations may be that different types of stores have different business incentives, says Gill. "It really comes down to a store's business model. For example, big box stores tend to use their pharmacies as a way to get consumers through the door with the expectation that they'll buy other things."
Consumer Reports' secret shoppers called more than 200 pharmacies throughout the U.S. to get retail prices (what you would pay without insurance) on a month's supply of five blockbuster drugs that have recently become available as generics: Actos (pioglitazone), for diabetes; Lexapro (escitalopram), an antidepressant; Lipitor (atorvastatin), for high cholesterol; Plavix (clopidogrel), a blood thinner; and Singulair (montelukast), for asthma. The result? A whopping difference of $749, or 447%, between the highest and lowest priced stores.
Some price comparisons:
HOW TO SAVE
Bear in mind that while some drugs are prescribed for a short term, others may be lifetime drugs, so you want to get the best price for the long haul. "If your doctor prescribes Lipitor, you may be taking it for the rest of your life. So it can really pay to shop around. You could save yourself thousands of dollars on that one medication," says Gill. "Talk to your doctor about lower cost alternatives in the same class of drug. And make sure you have that talk when your doctor is about ready to write the prescription. Once you're taking a drug and tolerating it well, your doctor might be less inclined to try alternatives," says Gill.
Some tips for saving:
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|SOURCE Consumer Reports|
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