“Four hundred and fifty out-of-pocket?”, I exclaimed incredulously. A visit to my local pharmacy to buy a prescription ointment for acne caught me off-guard. I turned back, hoping that another pharmacy would dispense it cheaper, my fingers frantically typing the drug name on my phone. Many pharmacies popped-up, with sharply different price points. But the least expensive option was still a non-starter— $250, even with a GoodRx coupon. After all, it was for a non-life-threatening condition that I could live with. I sheepishly called the dermatologist to inquire about the generic version that my search had revealed. An equally effective option was available at $10! Why didn’t the doctor prescribe it in the first place? Why didn’t the pharmacist discuss the alternatives? The experience has lingered with me.
Although healthcare has transformed spectacularly, one area that has thrown a wrench in the progress is its unaffordable price-tag. The astronomical costs of medicines pose a substantial burden, particularly on the underprivileged, as universal healthcare still remains a dream in the U.S. The situation is even more concerning when the disease being treated is a life threatening condition like diabetes or cancer. Those patients do not really have the option of walking away from a pharmacy the way I did. Or at least they should not have to go down that path. But we know that they do. Patients often quit taking their medications because they can't afford them.
What drives the cost of prescription medications? Well, there are many factors that are responsible for this phenomenon. A major one is the drug companies’ goal to make huge profits. The cost of medications far exceeds the amount spent in developing the drugs. Drug companies often monopolize the development and patents for drugs which further drives up the costs. The drug companies incentivize the insurance providers to keep the more expensive medications on their formularies. Insurance companies also often have plans that force patients to pay greater proportions of the medication cost out-of-pocket.
As our healthcare system policy-makers try to navigate this challenge of high cost of prescription medications, what can we do to minimize the amount we pay for this aspect of our healthcare? Here is what my research has taught me:
Always query your healthcare provider regarding the need for medication. If the drug is truly needed, always ask for a cheaper, generic version of the medicine, if it is available
Getting a 90-day supply of the medicine at once is better than refilling 30-day supplies.
Look for drug discount programs online and compare pricing at different pharmacies.
Ultimately, as the policymakers and the health care systems try to work toward providing equitable and affordable healthcare, bringing down the cost of prescription medications will be one of the major areas to focus on.
-Isha Kapoor is a senior at Mayo High School.
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