There’s been a lot of news lately surrounding manufacturer discount coupons and how they allow drugmakers to hike up the prices of the medicines they make.
We want to clarify the difference between manufacturer coupons and LowestMed Rx coupons. You see, manufacturer coupons are usually distributed from the drugmaker to physicians for patients.
LowestMed’s Rx coupons are different than manufacturer coupons!
It is speculated that manufacturers are distributing these coupons to patients so they start taking high-cost drugs. After the initial marketing to physicians and patients is complete – through manufacturer coupons – drugmakers pull the distribution of their coupons, allowing them to hike up drug prices, leaving patients with the bill.
Yikes! We have a hard time accepting this.
What is the difference between LowestMed Rx coupons and manufacturer coupons?
The main difference between a manufacturer coupon and a LowestMed Rx coupon/card is how they originate.
The price for a LowestMed Rx coupon is negotiated by a third party. Kind of like how insurance companies negotiate the prices for the prescription drugs on their formulary lists. LowestMed’s process allows for competition between PBMs to take place. LowestMed works with multiple PBMs to bring consumers the lowest price possible on medications.
Try Searching the LowestMed Price for your Drug!
“We are against hiking up the prices of prescription drugs,” said Brad Bangerter, CEO of LowestMed. “Our prices have been negotiated by the PBMs we work with, allowing for competition to take place between them, which will ultimately drive down the costs of prescription drugs. You should always shop around for your medications and pay the lowest price possible.”
Manufacturer coupons are usually distributed to physicians by the drugmaker and can be discontinued at any time. The controversy around manufacturer coupons is that drugmakers are purposefully marketing their high-cost drugs through coupons, so they can get patients on a regimen involving the drugs they manufacture.
According to Matt Schmitt, an assistant professor at the UCLA Anderson School of Management, through a coupon “The manufacturer can make its high-priced drug look as cheap as these over-the-counter medicines.”
Should I not use manufacturer coupons for my medication?
This is a decision you have to weigh the pros and cons. You might be getting a great price, but according to some, you may be contributing to the rise in price for that medication.
LowestMed Rx coupons are different, as explained above, and we’re fighting the battle against high drug prices. So, from a socially responsible and cost savings view, this might rest with your conscience easier. If you decide to use manufacturer coupons now, be prepared to experience a price hike for your medication in the future. Ultimately, LowestMed’s goal is to save you money now and in the future.
You can always find savings on your medications through LowestMed’s search tool. We suggest always shopping around for the best price on your medications.