In a recent study on drug discount cards, it has been found that the demand for drug discount cards has been rising at an excellent rate in the US. The prime reason for this is the high prices of prescription drugs. The US people, especially the adults have been facing a lot of difficulty in affording medications as the cost of yearly drugs they consume stands at around $900 on an average.
As per the statistics gathered in the study, the world pharmaceutical market has crossed 100 billion mark over the last 15 years. And as the number of aging people has been increasing all across the world, the network of global pharmaceutical market is spreading to various corners of the world. The increasing income of citizens and the rising number of new drug groups as well as affordable generics have been contributing to the development of the pharmacy.
In the US, RX24 discount card is a popular name in the drug discount card world which offers the facility to have some discount on the medications of daily use. The study highlighted that about 25% of adults and 23% of seniors complain that it is really difficult to afford the prescribed drugs and support the use of drug discount card here in the country.
From the point of view of the drugs store, selling drugs through the drug discount card is beneficial. And it is due to the fact that it helps to attract those clients who can’t afford medications at the full price. For example, if a drug store offers 20% off on purchasing a drug with the discount coupon card then still it is making some amount of profit in selling those drugs, which is better than nothing.
Moreover, this helps the store to build a brand loyalty which promotes the selling of other drugs and medical items from that store. This contributes to beat other competitors’ in the market and increases the customer base of a particular brand of drugs. People who visit a medical store to buy their prescribed medicines also add other useful items to their cart which eventually contributes to increasing the sale of a medical store to a great extent.
The drug discount card offers more benefits than the health insurance as it reduces the cost of prescribed drugs to some extent. Whereas in the case of a health insurance, a person has to pay the full price of the drug. Even there are plenty of other ways available to get some money off on your prescribed drugs, the drug discount card demand is increasing at an excellent rate in the US and other countries of the world. And in comparison to the other nations, the US is experiencing more demand for the drug discount card than other similar options to save money on prescribed drugs.
These discount drug cards are marketed by pharmacy benefit managers (PBMs) and retailers to help uninsured people to pay less than their total drug price. Since the organisations offering drug discount cards have been approved by global medical organisations such as Food and Drugs Administration, it becomes easier for people to trust these programs.