Your Rx meds: It pays to shop around


POSTED: Tuesday, April 2, 2013 - 5:19pm

UPDATED: Tuesday, April 2, 2013 - 5:21pm

Bargain shopping isn't just for home goods and electronics anymore.

A new Consumer Reports study had secret shoppers check the prices on top selling drugs, all of which just went generic.

The overall price difference: 447 percent.

"When generics first come on the market, there can be quite a variable difference between prices out there," said David Davis of Good's Medicine Chest.

Davis says that's the best time to shop around.

"Even if it was one price the first month it came out, it might be available from another company next month, and you can find a better price," he said.

In the study, some big name companies had the best prices, but other big names had the worst.

"A business model for the particular company will come into play," Davis said. " Some companies depend upon their pharmacy to survive. Other companies don't."

Some of the smaller pharmacies also offered affordable pricing, according to the study.

Prices can vary based on several other factors.

They can fluctuate month to month depending on the availability.

"Sometimes the raw materials you need to manufacture the certain drug just aren't available or are in short supply," Davis said. "When that happens, of course, the price goes up."

Another tip: Don't assume the first price given to you is the lowest.

One anonymous shopper told us, after saying she couldn't afford a drug that had gone up drastically in price from the month before, the store offered to run their own company pharmacy card.

The price then went from $237 to $15.

For more on the study, click here:




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