Discovering the price of a prescription medication using the Prescription Discount Card has never been easier! The Discount Drug Network has recently introduced a powerful new drug pricing tool that is simple to use and generates results quickly. The drug pricing tool works on smartphones as well for drug pricing information on the go.
The new and improved drug pricing tool is easy to use and retrieves results in mere seconds. Consumers can access discounts on thousands of prescription medications from the Discount Drug Network’s homepage, located at discountdrugnetwork.com. From the homepage, the user only needs to enter the name of the medication they would like a discount for and their zip code to discover which pharmacies in their area offer the lowest price on the prescription medication of their choice.
Results are organized by price, with the lowest price listed first, and the pharmacies listed are also shown on a Google map to facilitate finding a nearby pharmacy. This allows the consumer to shop around for the best price on their prescription medication in a specific area that is convenient to their home or work, on an easy to use map.
Consumers can narrow the results by selecting a preferred radius around their home or office to search for pharmacies. Results can also be tailored to the consumer’s needs, by searching for a 30 or 90-day supply of their medication, and allowing the user to search for different strengths of their medication as well as various dosage forms. This allows the consumer to find exactly what they were looking for in the pricing tool, quickly and easily.
From the results page, users can choose the pharmacy and price that best suits their needs, and access the billing information the pharmacy would need to apply the discount to their medication in the form of a coupon. The coupon can be printed and brought to the pharmacy, or sent to the consumer’s email to be opened at the pharmacy. It can also be texted to the consumer’s phone number and opened on a smartphone screen for pharmacy personnel to enter directly from the phone.
The coupon feature can be used to obtain discount information quickly, but a hard copy of the Prescription Discount Card can also be used to obtain medication discounts at the pharmacy. This allows users to obtain discounts through several different avenues, ensuring consumers have access to discounts they need, wherever they are.
Why is it necessary to shop for prescription medications?
One of the benefits of the new and improved drug pricing system is that consumers can easily shop around for the lowest price on their prescription medication. Since prices vary between pharmacies, out of pocket expenses can vary greatly from pharmacy to pharmacy. Consumers who shop around for the best price on their prescription medications can save significant amounts of money on their necessary medications.
There are many reasons why drug prices may vary between pharmacies. Pharmacies can have differing prices for a single product due to contracts with wholesalers or drug manufacturers. Pharmacies that buy a certain medication in bulk can often get a contract to buy that medication for a lower price than pharmacies that only buy the product in limited quantities. This wholesale pricing can then be reflected in the charges paid by the consumer, with pharmacies that have contract pricing available offering lower prices than pharmacies without contract pricing. Pharmacies in wholesale stores often have lower drug costs than independent pharmacies for this very reason, because it is cheaper to buy in bulk.
Some insurance plans also restrict the pharmacies that cover medications for their members, or have higher costs to the consumer if medications are filled at an out-of-network pharmacy over an in-network pharmacy. This is a simple way for insurance companies to control their own costs, as it is easier for them to negotiate prices with their preferred pharmacies. Consumers must be aware of which pharmacies are in their insurance company’s network and be sure to shop for their medications only at in-network pharmacies in order to restrict the growth of their medication costs.
Insurance limits are often met based on total medication costs, not just the copayment that patients must pay out of pocket at the pharmacy to obtain their medications. For example, if a patient is taking lisinopril and it costs $20 at Walgreens before the insurance is applied, the $20 will be applied to the insurance and applied to the consumer’s deductible and annual limits before a copayment price is generated. Some people have insurance plans that add up all of the costs applied to insurance annually and only cover products and services up to a certain limit, such as $5000 per year. It is therefore up to the consumer to seek out pharmacies that offer the lowest prices for the drug products they take on a regular basis, to ensure they are getting the most out of their insurance plan and drug payments.
Drug prices can fluctuate rapidly
Drug prices at a single pharmacy can also fluctuate. Medications that are in high demand can increase in price suddenly, as companies try to reap some of the benefits of increased demands. Prices can also increase suddenly when supplies are limited, such as when a major recall has been issued or the manufacturers experience issues in the production process. An example of this can be seen with doxycycline, an antibiotic used to treat various types of infections that has increased in price suddenly this year.
Rapid increases in price can occur when there is a medication shortage, since there is less supply to meet the pharmacy’s demand. Since it can take some time for insurance companies and pharmacy benefit managers to change pricing levels, when rapid changes of acquisition costs occur, the increased charge is reflected in the copays consumers are required to pay. In other words, when pharmacies must pay more to acquire medications, they have to charge insurance companies for the increased cost to provide the medication to a customer. However, insurance companies often have predetermined reimbursement rates for medications, and when the price increases quickly, the reimbursement rate only reduces the drug cost by the reimbursement rate that was determined before the price increased.
This means if a quantity of 180 tablets of doxycycline hyclate 100mg cost the pharmacy $100 to obtain 3 months ago, the insurance company set a reimbursement rate of $32, resulting in a $68 charge to the patient. But if the cost of doxycycline increased rapidly to $1072.97, and the insurance company has not changed their reimbursement rate of $32, the charge that is deflected to the patient ends up being unaffordable at $1040.97.
Rapid increases in the price of medications that a patient uses frequently can be worrisome, especially when it is necessary for the consumer to take the medication on a daily basis. Using the Prescription Discount Card in these instances can help curb some of the extra costs added to the medication price when rapid changes in price occur.
Using the Prescription Discount Card can save money!
When shopping for low cost prescription medications, consumers should be sure to use all available resources to find the lowest price for their medication. Using the Prescription Discount Card from Discount Drug Network can help reign in medication costs that are initially unaffordable. The Prescription Discount Card can be used in place of insurance, and is accepted at over 65,000 pharmacies nationwide.
By using the enhanced Drug Pricing tool, consumers can figure out what their costs will be when using the Prescription Discount Card for a specific product at any pharmacy the card is accepted at, before they even go to the store. This allows consumers to compare the discounted price between pharmacies and to their insurance copays in order to figure out the lowest price available to them, without even leaving the comfort of their own home.
The Prescription Discount Card is free for everyone, and can be used if the consumer does not have insurance, or if their insurance company does not cover their medication. It can also be used in place of insurance if the insurance charge is higher than the discounted price. Discounts from 10-85% are available, depending on the medication strength and quantity needed as well as the pharmacy it is filled at.
Consumers who use the Prescription Discount Card frequently can still request a card to use whenever necessary. Consumers can request their individual Prescription Discount Card on the Discount Drug Network’s website and have a hard copy of the card mailed to their home to keep it in their wallet as well. This will allow them to decrease their drug costs on the go the next time a prescription medication is needed.