CHICAGO (CBS) — It’s no secret that the cost of prescription drugs can break the bank. One in every five Americans, who is uninsured or under insured, is forced to pay out of pocket.
You definitely want to shop around to save money, because as CBS 2′s Dorothy Tucker discovered, there’s a huge difference in prices, sometimes within the same chain.
CBS 2 checked prices for a month’s supply of 10 of the most popular drugs to treat heart disease, depression, asthma and heartburn.
We called 18 Walgreens’, 18 CVS’, four Wal-Marts and four Costcos in Chicago and surrounding suburbs.
We didn’t just call once; we called each store twice, some even three times.
What amazed us are the differences we found in the prices.
Sometimes a short walk across the street will you save you money.
For example, we walked from the Walgreens at Broadway and Belmont across the street to the CVS on the opposite corner, and found the prices for the prescription drugs we checked, $3 to $30 higher.
For the antidepressant Celexa, the Walgreens price was $149.99. At CVS, it was $119.99. Chicago’s only Wal-Mart was even lower, at $113.88. And Costco was the cheapest: $105.68.
For the cholesterol-lowering drug Zocor, Walgreens quoted us at $180.99, CVS: $172.99, Wal-Mart: $168.84. But, Costco was $101 — $80 less than Walgreens.
Why such a difference?
“Sometimes it depends on what they pay for the medication from the pharmaceutical company,” said Glen Schumock, who studies the economics of pharmaceuticals at UIC. “They also have different labor costs, and they have to pay for the store and the personnel.”
But what about price fluctuations at the same store week to week? The first time we called about the asthma drug Singulair at the CVS in Hyde Park, we were quoted $138.99. The next time we called, the price rose to $148, while prices at competitors remained the same or dropped.
“I don’t know. I mean, I don’t know how to explain that exactly,” Schumock said.
Something else Schumock found hard to explain: why prices were different at stores in the same neighborhood.
For example at the CVS on Clark Street, Celexa cost $136.99. But just one block away, at another CVS, it was $17 less.
If you discover different prices, turn to your pharmacist for help.
“Many pharmacies will match the prices that you see elsewhere,” said Schumock.
So how do the big drug chains explain the differences? We called Walgreens and CVS. After our inquiry, Walgreens lowered the prices of two of the 10 drugs we checked.
CVS explained that it raised its price on Singulair because the manufacturer’s price went up.
Both chains pointed out that competition, location and the cost of customer service factor into the price of prescriptions.
Both chains also offer discount programs that can help consumers save money.
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Read the original article from WBBM News Radio.
What is the price of Benicare at 30 and 90 pills?
CBS has done a disservice to viewers in reporting this “story”. They manipulated my comment to make it seem that I was surprised or could not explain their finding, while at the same time they ignored important information that I provided. Here is what you should know:
1. If you have prescription insurance what you pay (co-pay or deductible) is determined by your insurance company. You will generally pay the same amount regardless of what in-network pharmacy you use.
2. If you don’t have prescription insurance then you should ask for a generic if available, or ask about pharmacy or manufacturer-sponsored discount programs.
3. If you still can’t afford the medication there may be therapeutic alternatives (different drugs that do the same thing) that you can use that are cheaper. Ask your pharmacist or physician.
4. It is best to stick with a single pharmacy where your pharmacist knows the other prescriptions you are taking and can prevent drug interactions or other problems.