Prescription prices

Prescription drug prices in the United States have long been a contentious issue, with many factors contributing to their high cost. AJ Loiacono, CEO of Capital Rx, discusses how the pharmacy benefit manager (PBM) market heavily influences these prices by consolidating control, which has led to higher costs for consumers and pharmacies alike. Regulatory oversight is seen as a necessary step to address these issues 1 2.

One way consumers can save on prescription drugs is by using services like GoodRx, which compares prices at different pharmacies and can offer significant discounts. For instance, GoodRx users have saved up to 80% on prescription prices at various pharmacies nationwide 3 4. Another option is checking membership plans at certain pharmacies, like Good Shepherd Pharmacy, which offers generic drugs at $5 per month. However, it's important to ensure all medications are reviewed by a single healthcare provider to prevent adverse interactions 5.

Discussions by EconTalk highlight systemic issues, including the role of Medicare not negotiating drug prices, contributing to inflated costs. They emphasize the need for a balance between market forces and appropriate regulation to curb pharmaceutical price gouging and ensure a fair system for all consumers 6 7.