Discover 8 tips to help you achieve your diabetes management cost reduction goals.
Key Takeaways
- Diabetes affects about 37.3 million Americans (1 in 10 adults)
- At least 90% of diabetics in the U.S. have type 2 diabetes, which is primarily triggered by lifestyle factors
- Many diabetes patients in the U.S. spend a significant amount each month on diabetes management
- Diabetes management costs include the cost of purchasing diabetes medication and supplies as well as paying for doctor visits
- Diabetes patients spend at least twice as much on medical care compared to those who don’t have diabetes
- Diabetes management costs can be brought down to manageable levels
Diabetes currently impacts about 1 in 10 Americans and can cost each affected individual a great deal in copays and deductibles. A 2010 study projected that by 2050, 25% to 33% of American adults will be suffering from diabetes (diagnosed or undiagnosed). This will significantly increase the cost of managing diabetes and put a great strain on the healthcare system.
This cost is not only hefty for the healthcare system, but it also puts a great strain on patients and their families, especially when they have to pay out of pocket. Diabetics also spend more on their diet since they may have to involve a nutritionist and purchase unprocessed foods that are typically more expensive. The medical costs are generally applied to:
- Diabetes prescription medications
- Diabetes supplies such as glucometers and strips
- Paying for doctor visits
- Diabetes diet
This makes diabetes management costly and stressful for millions of Americans. Would it help to save up to 80% on diabetes prescription medications and bring other costs down as well? It’s fortunate that a couple of things can be done to bring down the costs of managing diabetes.
How not to cut down on diabetes management costs
It is easy to be too eager to reduce the cost of managing diabetes. Here are five ways to jeopardize not only your cost-cutting goals for diabetes management but your health and safety as well:
- Not taking medication that has been prescribed for you
- Skipping some doses to stretch the medication
- Sharing personal diabetes management supplies such as insulin pens and fingerstick devices
- Opting for low-quality medication and supplies
- Skipping doctor and nutritionist appointments
Don’t be tempted to compromise your care just so you can save a penny or two. Here are 8 ways to pay less for diabetes management while still getting the most out of your care.
8 ways to pay less to manage your diabetes
1. Plan your meals
A diabetic diet can be quite expensive if you don’t put cost-cutting measures in place. Here are three things to do to spend less on your meals:
- Work on a menu that comprises readily available meals, taking into account the foods and fruits that are in season.
- Purchase foods in bulk and make use of discounts and coupons
- Carry food to work
It’s also important to stick to a strict diabetic diet that provides sufficient nutrients while keeping sugar and calories in check. Failure to do this will have you spending more on treatment in the long run.
2. Be physically active
Studies have shown that losing weight can help with glycemic control and may even trigger diabetes reversal. It is also helpful to engage an expert to help you plan a weight loss program not only to manage diabetes but to prevent other life-threatening chronic conditions that are expensive to manage as well.
3. Save on diabetes supplies
Purchasing diabetes supplies in bulk can help to reduce the costs significantly. It’s also advisable to compare prices between suppliers and settle for one that has the most favorable price.
4. Compare prices of prescription meds
Prices of prescription medications can vary greatly from one supplier to the next. It is therefore necessary to compare how much different pharmacies are selling your meds for. You can move from one pharmacy (CVS, Walgreens, Walmart, Target, Costco, and other local pharmacies) to the next, comparing drug prices to find the best bargain.
5. Consult with your doctor about generic options
Generics generally cost less than branded prescription meds and may deliver the same therapeutic benefits. For example, your doctor may be able to switch you to a suitable generic version of brand medications such as Glucophage or Fortamet that will allow you to spend less on treatment without compromising your care.
6. Get educated about diabetes management
Ask your health care provider for educational resources that will expand your knowledge on diabetes management. This knowledge should help you prevent diabetes complications that can easily deplete your financial resources.
7. Find the right insurance plan
Check your insurance plan and find out which diabetes medications are covered and to what extent. Tier 3 meds usually attract higher out-of-pocket charges and are therefore expensive in the long run. Some insurance plans may have lower premiums, but the plan may take longer to be effective. This may force you to pay out of pocket and hence pay more for your care.
8. Join a clinical trial
Some clinical trials for diabetes drugs will cover the entire cost of your medication. This is a great opportunity for significant savings and bring down the cost of managing diabetes. Your health care provider may be able to refer you to such programs or networks that can grant you access to ongoing clinical trials where you can enroll.
Try ModRN Health free pharmacy discounts and save using reward points
It’s simple to save on diabetes prescription drugs with ModRN Health. With ModRN Health you can easily compare prices to find the best deal, get a voucher, and show it to the pharmacist. You can also filter results to choose between brands and generics and adjust your dose according to your prescription. The best part is that ModRN Health discount vouchers are accepted at thousands of pharmacies all over the country and will allow you to make a saving of up to 80%.
Every transaction you make using ModRN Health allows you to earn reward points. You also earn extra points when those you refer to the program also sign up and fill prescriptions using ModRN Health. These points can then be redeemed for gift cards.
Becoming an ModRN Health user will allow you to earn reward points every time you or any of your referrals fill out a prescription. You will also earn 500 points when you sign up with ModRN Health.
The best thing is that ModRN Health is accepted at over 62,000 pharmacies across the U.S. Sign up with ModRN Health today and you will never again pay more than you should for your prescription meds.
