Health care is something that is necessary at any age. However, a study reported by the U.S Department of Health and Human Services shows there is a part of the population that remains uninsured and do not seek treatments for illness due to cost. It’s no secret that the cost of health care is rising.
According to the Centers for Medicare & Medicaid Services, the U.S. saw health care spending increase 4.3 percent in 2016 and is now over $3 trillion a year. An emerging trend is for patients to pay more for treatment. When you have more out-of-pocket expenses, it’s essential to find ways to reduce costs. One way to do that is by choosingcheap drugs instead of brand-name medications, when they are available.
Debunking the Myths
The best way to get cheap drugs is to have your doctor allow a generic version of the prescription. Some people are concerned about the quality and effectiveness of generic drugs. Let’s review the facts.
- Active ingredients are different, and the FDA is not as strict when approving generics.
NOT TRUE. The approval process does not discriminate between cheap drugs or expensive ones. It’s the same process regardless of the price.
- Quality standards are sub-par in the manufacturing of cheap drugs.
NOT TRUE. The reason why they are less expensive is because they don’t have to incorporate the cost of development, research or marketing. There is a waiting period on the release of generic drugs to allow the brand-name manufactures a chance to recover their costs.
- They’re supposed to be cheap drugs, but there really isn’t too much of a gap in price.
NOT TRUE. The FDA reports that the average cost of a generic drug is 80-85 percent less than brand-name drugs. In 2010 that was a savings of $158 billion, which is about $3 billion a week.
- Cheap drugs work differently in the body.
NOT TRUE. Part of the approval process requires proof that the generic drug works the same through blood tests. While some people may have a different reaction due to individual lifestyles and conditions, the drug is formulated and tested to work precisely the same.
If you need a friendly and caring staff ready to answer questions, reach out to the pharmacists at Cherry Street Pharmacy. Call 844-892-1050to ease your concerns and save money!