Why Some Medications Cost so Much
Why Some Medications Cost so Much
Cutting drugs prescription monthly costs with health insurance is the best solution to medication cost. Insurance will permit someone to select a pharmacy nearby and pay a co-pay of about $10 the prescription other than $100. This means that there will be reduced cost since the services have been brought closer to the patient. Instead of incurring more expenses in transport and medicine, transport expenses will be reduced. Furthermore, instead of a customer stepping out of a pharmacy feeling like the pharmacist has exploited him/her both of them will be happy since the customer will only spend $10 and the pharmacist will receive the rest from the insurance company (Individual health plans, 2005).
According to a prescription graph SRS Retiree Association (2010) the retirees without insurance cover paid higher than standard prescription drug plan and Medicare cover. Insurance can save an individual’s outlandish chunks of money at the hospital and as the doctor office. Additionally, it provides peace of mind since one is assured of coverage benefits even if the unexpected were to happen (Easey C, 1999). Health insurance helps in servicing expensive medical procedures that can occur in case of an emergency. As if not enough, supplemental prescription insurance can protect an individual from increased cost of monthly prescription drugs (Black K, 1999). The other benefits include; saving money with long term prescriptions, reduces the cost of all medication, even generic medicine, saves time and money with an email order description and reducing out- of- pocket and co-pay expenses (Neighborhood link, 1997). Furthermore, specialized medication gets covered by health insurance; thus reducing the cost of monthly prescription drugs.
An immunization is an effective and efficient prevention strategy; however, it can be problematic to administer to susceptible patients. According to Exponent news (April 30, 2010), vaccination helped in reducing households cost for up to $172 lower for each vaccinated household. This study also found out that, during the peak week, costs were fundamentally indistinguishable for vaccinated and non-vaccinated households, however, over the influenza period the costs reduced drastically. In addition, an immunization cost less compared to the price of drugs and medical treatment for the diseases for which vaccination is available. As if no t enough, some of those diseases leave chronic, lifelong side effects, like polio is one case in point. A lot of money gets lost when we miss going for work, purchase expensive antibiotics and suffer for days, even weeks from influenza. The old saying, “An ounce of prevention is worth a pound of cures” relate to all aspects of illness such as, mental sociological and physical.
On the other hand, immunization gets administered once in a while, but prescription drugs can be often depending on the kind of ailment a patient has. In some cases, one immunization procedure prevents several ailments that would require each to have particular drugs; hence getting more expensive at the long run. Prescription medication can be affected by price fluctuations because of unstable market prices, thus increasing drugs costs. Furthermore, medicine industries manufacture drugs to make profits like any other commercial business; hence long term prescription of drugs means high expenditure costs on drugs. Immunization in most cases is offered by government sponsored medical organization, so it gets to be cheaper for patients compared to private sponsored prescription medication. “Prevention is better than care” this means that, in prevention, there are better chances of survival compared to treatment through prescribed drugs.
References:
Black K, (1999)What are the benefits of having health insurance? Retrieved on 12/16/12 from http://www.ehow.com/about_5380815_benefits-having-health-insurance.html
Easey C, (1999) Benefits of health insurance Retrieved on 12/16/12 from http://www.ehow.com/about_5421603_benefits-healthcare-insurance.html
Exponent news (April 30, 2010)
Neighborhood link, (1997) Retrieved from http://www.neighborhoodlink.com/article/Community/Prescription_Insurance
Individual health plans, (2005) Retrieved from http://www.individual-health-plans.com/prescription-markups-insurance.htm
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