Global healthcare spending is absolutely increasing every year. You can avail of over-the-counter drugs today with a typical increase of 6% of its worth in the previous year.
Of course, there are determining factors that affect medicine pricing. While healthcare professionals are exhausting scientific principles to upgrade medical technologies, the underprivileged are getting upset about the soaring prices of medicines they need.
Rising Healthcare Cost
The annual cost increase has become a ritual in the pharmaceutical domain. In the first quarter of 2019, there is an evident increase in medicine prices with an average of 6% per drug in America.
Consequently, this has caused a clamor among the consumers’ party. As for the drug companies’ account, they would insist that these prices are already registered in the “list price” where compensation to health insurers will be deducted.
Well, this couldn’t still justify the price rising ritual of medicine, given that the healthcare system is a component of the public welfare.
Can the Ritual be Dismissed?
The pharmaceutical market is the total opposite of the free market. To rationalize, the intermediate market that we know is propelled by competitors declaring the lowest prices to outperform each other.
On the contrary, the drug market is driven by dynamic increases in pricing to stimulate considerable rebate payments.
With this being said, it’s safe to say that no politician can vouch for dismissing this tolerated ritual in healthcare history.
Thrifting Tips
With an agreeable discounted price, any business could sell more than they would with regular pricing. Medicines are developed and manufactured to improve our quality of life. Hence, it has claimed a share in our life essentials.
Since this is a positive fact, we need to consider that thrifting through coupons and discounts can unload a portion of our financial cargo.
We must value our health as much as we value sensible budgeting. Below are straight tips to get yourself medicine discounts and coupons.
1. Get Prescription Assistance
It’s either the state, private stakeholders, or prescription drug corporations who would offer Prescription Assistance Programs (PAPs). These are specifically committed to helping people who can’t afford prescription drugs with their personal funds.
Through PAPs, people without health insurance could avail of low cost and even free prescription drugs. Pharmaceutical companies offering this program renders criteria for qualifying beneficiaries. You’ll just have to provide the eligibility requirements, such as proof of low income.
Basically, PAPs only grant a limited medication supply. Some would award a 30-day supply or 120 days at maximum.
2. Inquire for Coupons
There’s nothing to be shy about being a frugal shopper. It’s because you’re just taking advantage of the marketing scheme wielded among competitors in the market.
For prescription medicines, there are several providers of discount cards. One of which is BuzzRX, an institution that offers free and ready-to-use discount cards.
On the side of pharmaceutical companies, they could attract potential customers and gain their existing clients’ loyalty. No customer will refuse to avail of a quality product at a lower price.
3. Prefer Generics
If truth be told, brand-name medicine drugs procure equal potentials as the generics to sustain human lives as validated by the FDA (U.S. Food and Drug Administration). The quality of generic medicines isn’t compromised, given that these are at discounted prices.
Practically, the only thing that makes generic drugs different from its expensive counterpart is the branding and nothing more. The quality and efficacy are entirely balanced.
4. Consult Your Doctor
You got your prescription medicine from your physician, right? Thus, it is just right to discuss your concerns with the doctor every once in a while.
You’ll never know the progress of your health condition unless you consult a healthcare professional. Otherwise, you might be taking an outdated prescription incompatible with your present condition.
Eventually, you’ll feel when the symptoms of your illness are dying away. Your doctor can always retract the administered regular repeated prescriptions once you have shown signs of recovery.
5. Preserve Your Medicines Well
Typically, all medicines have expiration dates. It’s essential to take note of these dates so that you can consume the medicines while it’s still safe and effective.
The potency of a drug would decrease over time. It’s impractical to reject your medicines because you haven’t noticed the expiration date, and you’ve overlooked the prescribed frequency of taking it.
Spoilage of drugs will happen if you have purchased excessive amounts of prescription medicine.
If this is the case, you’ll have to purchase another set of drugs—like an unanticipated expense you have to take care of.
6. Purchase from Different Shops
If you’re purchasing a high-priced medicine and the doctor has prescribed you to take it thrice a day, you should consider shopping around. You can’t negotiate the price of medicine sold at the pharmacy. At least, you know where to find the store that offers the lowest selling price.
Pharmacies may offer different prices with minimal variations. You need to survey for the lowest price suggestion so that you can save a chunk if you purchase in bulk.
Takeaway
No matter how hard you try to cut down your expenses, unforeseen medical emergencies could reverse your financial plans. Coupons and discounts are great offers you shouldn’t miss if you want to efficiently practice being thrifty.