Comparison shopping for prescription drugs saves big bucks

From CNBC:

“A national price study conducted by Consumer Reports and led by Tod Marks showed just how widely prices can vary on the same drugs in pharmacies throughout the country. The survey found that the prices of four particular prescription drugs can vary by as much as $340, and up to $100 even within individual chains of stores! Of all the drug-store chains, Costco proved to be the cheapest, Marks said.”

That’s a huge variation in pricing. It reflects the fact that U.S.consumers are not accustomed to comparison shopping for prescription drugs — and drugstores certainly don’t make it easy to do so. Believe me, if consumers routinely shopped around when buying drugs, you’d see a leveling of pricing across the board.

Until that day comes, Marks advises consumers to comparison shop by checking prices on the Web, and says that prices online are almost always cheaper than at brick-and-mortar pharmacies. Consumer Reports editor Steven Findlay also recommends purchasing drugs from Canadian pharmacies.

Read the report and watch the TV interview with Marks here.

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Comments (2)

Excellent tips. It is a bit mind-blowing that there can be such a large difference in prices from store to store. Good takeaways, comparison shopping has its rewards.

Truly eye-popping figures. Great advice! If they do have the time and patience for comparisons, consumers can indeed save a lot of money this way.


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