Generic medications are a safe and effective way to help reduce rising health care costs.
Because generic drug manufacturers do not incur the high costs associated with clinical trials and the costs of marketing and advertising new drugs, they are able to sell their products at a lower cost than their brand name counterparts. If a physician selects “brand required” on the prescription, a pharmacist cannot provide the patient with a generic equivalent, which has the same efficacy of the brand medicine, usually at a lower cost.
For example, an injured worker may commonly be prescribed Percocet® (2.5-325 mg tablet). A 30-day supply of tablets, two tablets per day, has a contracted rate of $733. The generic equivalent ofoxycodone with acetaminophen tablet would cost $148 for the same 30-day supply.
Another example shows an even greater cost differential. Duexis®, 800-26.6mg tablet, 30-day supply, three tablets per day, costs $2,555 at the contracted rate. The generic equivalent of ibuprofen and generic famotidine, taken as two separate pills, costs $18 at the contracted rate, for the same 30-day supply.
Currently, 80 percent of the prescriptions filled in the United States are for generic drugs and their costs are 80 to 85 percent lower than brand name versions.
Horizon Casualty Services encourages physicians to prescribe generic medications, unless there is a medical necessity to prescribe the brand name drug.
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