Defraying the Rising Costs of Prescription Drugs



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Costs of Prescription Drugs Prescription drugs prices have increased sharply in the past ten years, and high drug prescription prices are becoming a growing concern in the health care industry.  According to the Kaiser Family Foundation’s analysis of National Health Expenditures, if current trends continue, factors like an aging population, reliance on costly specialty drugs and high pharmaceutical costs will raise the costs of meds even more. 

Advances in the pharmaceutical industry in the past 20 years have increased life expectancy greatly and allowed patients to control long term terminal illnesses.  As the population continues to age, more and more people will depend on long term prescription drugs to control terminal ailments.

The U.S. Bureau of Labor Statistics estimates that retail rx drug prices have increased by nearly 7%, between 1997-2007, more than double the inflation rate.  2008-2012 figures are expected to be even higher.  Demand for meds has grown by a staggering statistic as well.  In a Kaiser Issue Module, prescription drugs purchased have increased by an astonishing 72%.  The Kaiser Module also noted that prescriptions written tend to be for newer, higher priced drugs. This means more people looking for discount prescriptions

How Can You Reduce Costs in Prescription Drugs?

 

Despite the Obama administration’s pledge to ongoing health care reform and help offset the cost of rising prescriptions through initiatives such as the gradual elimination of the Medicare “donut hole”, rx drug prices are still considerably expensive.  

Prescription discount cardsconveniently accepted at over 57,000 pharmacies nationwide, are instantly activated and are free to join.  Discount cards like ours have generated over $38 million in savings to cardholders to date and can help slash rising prescription costs considerably.   

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