Did you know that generic drugs represent a safe, effective, and affordable method to decrease overall healthcare costs? Choosing a generic over brand can be a win-win, saving you medication costs and offering cost-savings potential to your employer that can help curb rising health insurance costs. This is why Optima Health has launched a generic drug campaign titled Choose Generics.
Direct to Consumer Advertising
You’ve seen the ads… “the purple pill.” Drug manufacturers effectively use direct to consumer advertising to get the word out to potential patients. We know knowledge is power so we are spreading knowledge by educating our customers of generic alternatives.
What is the campaign?
Choose Generics is designed to educate members and prescribers about the advantages of using generic drugs when appropriate. Members will receive information about the safety and efficacy of generic drugs as well as the potential savings that may be available to them.
Knowledge is Power
Optima Health will inform customers of effective generic alternatives by:
- Providing prescribers with information about generic alternatives that are currently available.
- Notifying prescribers when new generic drugs are available on the market.
- Educating prescribers on generic alternatives to heavily-marketed brand name drugs.
Startling Statistics1
- Prescription drug spending represents 11% of all health care expenditures
- Prescription drug spending is increasing at a rate of over 10% per year
- U.S. brand pharmaceutical sales for 2004 amounted to $217.4 billion while generic pharmaceutical sales represented $18.1 billion.
- Generics represented 53% of all prescriptions dispensed in 2004, but only 8% of all U.S. drug expenditures.
- The National Association of Chain Drug stores reports that in 2004 the average generic prescription cost $28.74, while the average brand name prescription cost $96.01.
Facts about Generics2
- The FDA requires generic drugs to have the same quality, strength, purity and stability as brand-name drugs
- Generic drugs are replicas of brand-name drugs that are the same in dosage, safety, quality and strength
- Both brand-name and generic drug manufacturing facilities must meet the same FDA standards. In fact brand-name firms are linked to an estimated 50% of generic drug production.
- A study by the Food and Drug Administration (FDA) concluded that consumers who are able to replace all their branded prescriptions with generics can save up to 52% on their daily drug costs.
- An estimated half of all prescriptions in the United States are filled with generic drugs. These products carry all the medicinal qualities (and side effects) of their brand-name counterparts, but generics tend to have one additional benefit: lower cost.
Common Questions
Learn the answers to the frequently asked questions about generic drugs, from the Food and Drug Administration. View Common Questions.
Find Out More
Need more information? Contact us with any questions you may have about this program.
Optima Health’s Commitment
Optima Health is committed to providing excellent care and part of that care is making sure members and prescribers are aware of the most cost-effective therapies available. The right thing to do is make sure everyone is aware of the generic alternatives that are available and Optima Health is dedicated to this purpose.
Quick Links
Common questions about generic drugs
Optima Health's Preferred, Standard and Premium Drug List
1Generic Pharmaceutical Association. Accessed August 18, 2005 http://www.gphaonline.com/aboutgenerics/factsabout.html
2 http://www.fda.gov/cder/consumerinfo/generic-what_everyone_should_know.htm. Accessed October, 2005