Generic Drugs and Health Care Savings

The sales of generic drugs are growing with each passing day. A rush of new generic drugs will be storming the pharmaceutical market in 2006 for the benefit of common men. During the next three years, brand-name drugs, whose sales total $10 billion to $12 billion, will become available as generics due to the mounting popularity of generic drugs as compared to branded one.

The potential savings from generic drugs are very impressive. According to the Excellus report, if all upstate New York counties fill prescriptions with generics at the rates of the best counties in the region then more than $880 million would be saved in this regard. It’s a big savings indeed. The best part is that these monetary savings can be used for other better purposes.

Normally, the percentage of consumers using generics varies by drug, age group, and region. Doctors in this regard can play a big role in making his patient aware of the benefits of generics. While the first and most important concern for physicians is to prescribe the proper treatment for their patients, cost can play a role in the decision-making process. They need to be encouraged by the insurance companies and their patients to consider generic alternatives.

For hospitals, generics are generally the preferred option as they are more economic as compared to the prescribed one, however, it honor patient requests for brands. It also will sometimes stick with a brand name if it has been used in an emergency situation to stabilize a patient. In addition to doctors, pharmacists, and patients themselves, employers also play a role in encouraging generic use.

Always remember that generic drugs can be cheaper but never inferior to a branded drug. It provides you the same benefits that you look for in a branded drug. Generic drug can be used for various purposes such as erectile dysfunction, heart disease and lot more. So make generic drugs a part of your life and save millions in the long run.