More than one-quarter (27 percent) of patients between 50 and 80 years of age find the cost of their prescription medication a burden, according to the latest National Poll on Healthy Aging conducted by the University of Michigan. The study looked at responses from approximately 2,000 people within this age bracket.
The study revealed nearly two-thirds of patients surveyed take two or more prescription medications, with 16 percent categorized as having "high complexity" drug management needs, taking six or more medications and visiting multiple doctors.
Overall, 27 percent of the respondents admitted struggling with the cost of their prescriptions, with a higher proportion of those in the "high complexity" category reporting difficulties. Despite this, almost half (49 percent) of those who said the cost of drugs was a burden had not spoken to their doctor about the issue, with only four in ten saying they believed their doctor was aware of how much they spent on prescription drugs.
However, of those who had discussed the cost of their treatment with doctors, two-thirds reported that their doctors had recommended a cheaper prescription drug. Respondents were also asked about interactions with pharmacists. Of those who had talked to their pharmacists about the cost of medication, 37 percent said these healthcare professionals had recommended a cheaper alternative to their current medication.
Other recent studies have also shown the price of prescription drugs to be a major concern for patients struggling with the financial burden of healthcare. The Physician Foundation Patient Survey conducted by Harris Poll revealed prescription medication costs was one of the main drivers of increased healthcare costs for 59 percent of respondents.
The authors of the National Poll on Healthy Aging provided a number of tips to help patients manage and minimize medication costs:
- Doctors and patients should work on improving and promoting dialogue about the cost of medication. Discussions about cheaper alternatives could help older patients control their prescription drug bills, the study said.
- Patients are urged to bring up the cost of treatment with their doctors, and should be assured that cost is an issue doctors will discuss with them.
- Prescription discount cards, for example the ModRN Health card, were recommended as an effective way to keep costs down.
- The study noted different pharmacies may have different prices for the same medication, even for those under the same insurance plan. Patients were advised to shop around for prescription drugs before deciding on where to buy their medication.
- Patients were advised to look into their eligibility for a comprehensive medication review with a pharmacist or healthcare professional.
