A new study published Friday by the JAMA Health forum has found that Americans can save up to 40% on prescription drug costs by switching to lower-cost formulations, according to United Press International (UPI).
The study analyzed costs of 28 medications available as a tablet or capsule, of which, 33% of prescription orders were placed for the high-priced formulation.
Researchers said similarly, for “21 drugs dispensed as a cream or ointment, 47% of orders involved the more costly formulation.”
They said that if people ordered lower-cost formulations, the cost of the drugs would have been reduced by 42%.
The study’s co-author Sunita Desai told UPI, “Our findings illuminate the stark and often unexplained variation in prices that can exist between similar medication treatments. They also highlight the need for more transparency of prices to allow patients and providers to balance both clinical and cost considerations when making treatment decisions.”
In the United States, skyrocketing drug prices are a major cause of concern, especially due to the rising prices of brand-name drugs and the reduced availability of generic drugs.
Research has shown that up to 18 million Americans cannot afford high-priced prescription medicine, with nearly 13 million skipping their medication or delaying treatments due to the cost.
The recent study found that the more expensive tablet formulation was ordered about 45% of the time. Prescription drug users would have been able to save about 30% if they had ordered the less-expensive formulation.
For instance, hydrocortisone, which is a common medicine for rheumatoid arthritis and other conditions, was ordered in its more expensive ointment formulation even when there are less costly cream options available.
The researchers explained that prescribing medical providers might prefer one formulation over another due to convenience, but safety or effectiveness, increased transparency regarding price differences would allow patients and providers to make more informed decisions.
“Many medications are offered in multiple formulations, and the prices between two formulations can vary substantially,” said Desai, an assistant professor of population health at NYU School of Medicine in New York City. “In many cases, convenience or clinical differences may be minor and, in these cases, the patient and payer could save if they knew about these price differences.”
