This is how pharmacies set drug costs, and what customers can do to save cash
People are having a tricky time paying for drugs regardless of bipartisan efforts to drive down prescription drug costs.
Practically 1 in four People say it’s troublesome to afford their drugs, in line with a March 2019 ballot by the Kaiser Household Basis. This comes as pharmacies raked in a document $465 billion from prescriptions.
Lawmakers from each events assist reducing drug costs, however they have not had a lot success regulating the business. In September 2019, U.S. Rep. Frank Pallone, D-N.J., launched the Elijah E. Cummings Decrease Drug Prices Now Act. The Home handed the invoice in December 2019, nevertheless it died within the Senate.
Former President Donald Trump additionally made a late-term bid within the fall of 2020 to attempt to decrease drug prices, however the effort confronted setbacks in court docket.
As regulation makes an attempt have faltered, companies equivalent to GoodRx have tried to fill the gaps within the sophisticated pricing system. Nonetheless, specialists say non-systemic options are a Band-Support on an even bigger drawback.
Watch the video above to be taught extra about how pharmacies set their costs, why lawmakers are struggling to control the business, and what clients can do to save cash.