Prescription Place Will Save You $$$
Solving the Problem of Greedy Pharmaceutical Companies
Pharmaceutical companies are swimming in pools of cash. They get away with charging outrageous prices
for medications due to the nature of the industry and the inelastic demand of these medications.
for medications due to the nature of the industry and the inelastic demand of these medications.
I want to give power back to the consumer (where it belongs) by solving this dilemma. What if prescription
holders had the ability to compare prices for the various manufacturers of their medications? Currently, there
is no infrastructure in place for the public to easily and efficiently gather information about wholesale acquisition
costs for prescription pills, and compare these costs across all brands.
is no infrastructure in place for the public to easily and efficiently gather information about wholesale acquisition
costs for prescription pills, and compare these costs across all brands.
Prescription Place would enable registered users (targeting those who qualify as patients with out-of-pocket expenses)
to access pertinent information about their prescriptions. Our comparative price database would enable them
to find the best deals on prescription medication, according to their insurance provider, in real time. This service
would be provided at a low fee of 10 dollars a month. Our monthly subscription dues affords members the flexibility
to cancel within 30 days of the next billing date. Ergo, there are no strings attached and if, for whatever reason,
our customers aren’t satisfied, they can cancel without having to deal with the fuss of long-term commitment.
to access pertinent information about their prescriptions. Our comparative price database would enable them
to find the best deals on prescription medication, according to their insurance provider, in real time. This service
would be provided at a low fee of 10 dollars a month. Our monthly subscription dues affords members the flexibility
to cancel within 30 days of the next billing date. Ergo, there are no strings attached and if, for whatever reason,
our customers aren’t satisfied, they can cancel without having to deal with the fuss of long-term commitment.
Hi Jenna,
ReplyDeleteI like your idea but I don't think it would help the consumer much. First off my dad was a pharmacist for 30 years and I learned many things about the pharmaceutical industry from him. There are thousands of places to get prescriptions filled but not every pharmacy carry the same drugs. When you go to get a prescription filled almost all the time the pharmacist will give you the option of a cheaper generic drug that is the same thing as the drug written by the Doctor on the prescription. The problem I think you would run into is that even though you can help the people find the cheapest price it might be hard for them to find that specific drug at their local pharmacy.
I like your idea but usually the pharmacist will advise the consumer on the price options therefore eliminating a 10 dollar a month subscription fee. The pharmaceutical industry is highly regulated and doesn't allow for huge pricing differences between drug manufactures.
Good Post!