Prescription Drug Prices Still Rising Fast In First Weeks Of 2015
Prescription drug prices are the highest in the world here in the United States. This has been the case since long before the advent of healthcare reform, but it seems that the early confusion that the Affordable Care Act caused may be contributing to rising prescription drug costs.
2014 was the year that traditionally affordable generic drugs rose in price more sharply than ever before. Forecasts indicate that costs will continue to rise throughout 2015 as well, so people are more alert than ever to anything that might help save money on healthcare.
Why are costs so high?
- Monopolies Have A Profound Effect On The Cost Of Drugs
When a company develops a new drug that is useful for consumers, the company has the ability to completely bar any other company or organization from developing a similar drug. While this is intended to safeguard profit, it can also drive up prices until generic alternatives may be made.
- It’s Difficult To Use Buying Power To Drive Costs Down
If millions of people engage in the same buying behavior, then it is usually possible to get a company or even a whole industry to adopt new practices. However, this is difficult in the healthcare industry. Even Medicare, with tens of millions of Americans, is barred from using buying power to negotiate costs.
- Generic Drugs Can Be Kept Off The Market
Generic drugs are typically less expensive than brand name drugs, although the gap between these two categories has been narrowing in the last few years. Drug companies lobby Congress to ensure that generic drugs are less likely to be covered by government programs.
- Drug Advertisements Influence Prices
The United States is one of just a relatively small portion of countries where drug companies are permitted to market directly to patients. Although this has only been going on since 1997, it has had an effect on prices by pressuring physicians to prescribe heavily-advertised drugs.
You Can’t Control The Pharmaceutical Industry, But You Can Help Cut Costs
What should the average consumer of prescription drugs do when it comes to maintaining an affordable cost?
The best thing to do is to look for a trustworthy way to reduce overall costs. With the USA Rx pharmacy discount card, you can achieve prescription savings of up to 75%.
Reach us by phone or email today to find out more about the discount card and get your own.