With the increase in the number of Americans relying on prescription drugs to improve their health conditions, there are a lot of companies in the market gaining popularity by generating prescription discount cards that have tied up with several pharmaceutical companies to offer generous discounts on both generic and branded medicines, directed to relieve the patients of a heavy medical bill at the end of each month. These discount cards are available for downloads and once they are produced before the pharmacist, the final price that the customer has to pay is much lower than the retail.
The prescription discount cards might seem like a wise form of cash saver, but in reality, if the consumer dives into its usage at pharmacies without conducting thorough research, he might end up paying a price that is higher when compared to a different store. Consumers, who do not have medical insurance to cover their monthly bills, assume the discount cards to be their only cash saver. But there have been a lot of cases reported where the price offered at one pharma after 20-30% of discount was much more than the one offered at a different place. For instance, if a medicine costs $200 at a supermarket even after adding the discount, places like Walgreens or Kroger would have served it at around $70-75. The disparity in price offered to a customer arises from the fact that the medical sector manufacturing and distributing pills is no longer stagnant; just like the other industries, its primary aim is towards voluminous growth and wherever it finds an opportunity to draw more money from the consumers, it nev
er fails to capitalize.
The prescription discount cards function as a mediator between the dealer and the manufacturer of the medicines; with the implication of their varied policies, they form a negotiation about the price at which the manufacturers can afford to sell their products keeping their profit margin intact. After a common ground of pricing is reached which is lower than the initial rate, the customer is offered the medicines at the same decreased amount known as a discount. According to producers and market analysts, there are hundreds of reasons that are responsible for deciding the final price of the medicines; one of them is the everyday fluctuating market value and the second is the distinct company policies. First of all there are is a variable array of composition meant to serve the same illness, and secondly, there are so many different companies engaged in their production; not all of them use the same quality and quantity of compounds because of which the price swing occurs in the first case.
Moreover, most of the discount cards claim that they will be offering discounts “up to” say 60%, but when you physically use it for a transaction you can end up purchasing the medicines at deduction ranging from anywhere between 1%-60% depending on the terms and conditions of the company. Also, some prescription discount cards will deduct a transaction fee at the end of your purchase thus making these cards not completely free and cash saver because you are bound to pay some extra in this way or the other.