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Saving Money on Generic Drugs
The cost of healthcare has skyrocketed in recent years and shows no signs of slowing. Prescription drugs can also be a costly medical expense. If you or a family member is older or chronically ill, you should consider consulting your doctor or pharmacist and asking them to substitute generic drugs in place of brand-name products.
Generic drugs are less expensive than brand-name medications. By law, they are chemically the same as brand-name drugs; they have the same active ingredients and strength, and they have the same medical effect. There are generic versions of all sorts of drugs including pills, liquids, and injections.
Are all drugs available generically?
No. Unfortunately not all prescriptions have a generic version. This is because when a new drug is introduced the pharmaceutical company that created it owns a patent. No other company can manufacture that drug until the patent expires. Once the patent expires other companies are free to sell generic versions of the drug. The most famous example of this is aspirin. Many years ago, Bayer was the only brand of aspirin. But now there are many generic brands with the same chemical ingredients. The generic drug is the same. It just doesn't have the Bayer name.
Sometimes when a pharmaceutical patent expires, the manufacturing company will allow it to be sold over the counter (OTC) instead of by prescription. When the patent for Claritin was about to expire, Schering Plough decided that the competition from generic drugs would cut into their profits so much that it would be more advantageous to switch the product to the OTC market. This was a great move for consumers who paid less and no longer needed a prescription from a doctor.
Why doesn't my doctor prescribe me generic drugs automatically?
Some doctors do. They sometimes prescribe the brand-name drug but also indicate that a generic drug substitute is acceptable. Other doctors prefer to prescribe brand-name products only, or they may not realize that a generic drug has been made available. Or there may be a legitimate medical reason for the doctor to not prescribe the generic brand. In this case, the pharmacist will usually call the doctor directly to confirm if a substitute is allowed.
If you are interested in saving money by using generic drugs, you should talk to both your doctor and pharmacist. Explain to them that you would like generic drugs whenever possible. Do not just assume they know you are open to generic drug substitutions.
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