- Nearly one-third of those polled either do not know or do not believe that generics have the same active ingredients and effectiveness of brand name drugs.
- Less than one-third correctly indicated that a brand name drug costs 50% to 70% more on average than its generic counterpart.
What’s more, the tightening economy has prompted many to skip or ration needed medication. The survey shows that 27% have either delayed filling, not filled or not taken as directed a prescription drug in order to save money.
There is some promising news, however. While 71% of respondents admitted to being concerned about drug costs, 21% reported talking with their doctor recently about switching to a lower cost alternative.
Prescription Solutions points to industry data showing that generic drugs have helped save $734 billion over the last decade. The new survey shows there is more savings to be had, according to company CEO Jacqueline Kosecoff.
“Using generics helps make health care more affordable without compromising results,” Kosecoff says. “Many Americans erroneously believe that the most expensive drug is always the most effective drug, so by helping to change perceptions, we can help people save money and still get the best treatment available.”
