If someone told you that you could save up to 80% on your prescriptions with a drug discount card, you may find it hard to believe. But thankfully, it is true. A drug discount card saves you money.
Drug discount cards were conceived to help Americans save money from the rising cost of prescription drugs. By offering a discount card to use, Pharmacies are also helping out the establishments that disperse the medication.
Why pharmacies willingly accept drug discount cards
Pharmaceuticals is a $500 billion industry, so there is intense competition between drug stores. If a pharmacy does not accept the drug discount card for prescription purchases, they know another one will.
Medications are all the same
Since medications are identical, it doesn’t matter where a drug discount card holder buys it. Therefore, pharmacies are more or less obligated to honor drug discount cards if they want to make the sale.
Revenue from the sale of other items
Pharmacies are very aware that if they accept the drug discount card they will probably get more business. And with the new business they know that customers who come into the store to buy drugs will often buy other items. In fact, this plays a role in why pharmacies are always at the back of the store.
Where do drug discount cards come from?
Drug discount cards are made by managers called pharmacy benefits managers (PBMs). They work with a lot of pharmacies in different ways. For the drug discount card, PBMs negotiate price discounts on behalf for their cardholders.
What do PBMs get from drug discount cards?
Every time a prescription is filled and the patient uses the PBM’s drug discount card, they get a percentage of the revenue from the sale.
Drug discount cards offer savings of up to 80%
Now that you understand why a drug discount card benefits PBMs and pharmacies it’s time to see how consumers benefit by using a drug discount card when they buy their prescriptions.
Prescriptions are expensive, and there’s no way to deny that. For people who need expensive medications on a regular basis, the cost can be astronomical. As well, getting insurance coverage is sometimes difficult, or even more expensive if pre-existing conditions exist. A drug discount card can save between 15% – 80% on prescription drugs at over 40,000 pharmacies across the United States.
On average, a drug discount card saves 15% on brand name prescriptions, and 55% on generic prescriptions.
Another incredibly valuable benefit drug discount cards offer is their convenience. They can be used over and over, and the pharmacist can put the information in the system once so the patient does not have to carry their card every time.
How to get a drug discount card
To get a drug discount card, all you have to do is go to a participating website, fill out a form that takes 2-minutes, then print your card. The card is free, and you don’t have to join a membership, or pay a monthly fee.
Everyone involved with drug discount cards is better off. Stores and pharmacies get more business, PBMs get a commission, and cardholders get affordable medication.