How to Save Money On Your Prescription Bills?

By: Sukhada, Shrishaila

Published On: March 22, 2022

The 2020 COVID-19 pandemic was a test of human survival. The pandemic affected us physically, mentally and economically. Fast forward to the second wave of the pandemic, and January 2021 saw the highest number of COVID deaths in India as well as the rest of the world. Scarcity of COVID therapies such as hydroxychloroquine and oral antiviral treatments, shortage of beds, and other medical crises have given rise to health inflation which has shot up to 8.4% in May 2021 from 3.8% in December 2019. That is how healthcare costs increased and medicines became almost unaffordable for many in our country.

What are the possible solutions for this?

Generic medicine shops

The government of India launched the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) to make quality generic medicines available to the public at affordable prices. For example, Cetirizine, a common anti-allergic drug, costs Rs 4.70 per tablet when manufactured by a brand. But the same tablet costs Rs 0.28 at generic medical stores.

The outlets known as Janaushadhi Kendras are functional across the country. Now, what are generic medicines? These are the medicines that have active ingredients, dosage and side effects similar to their branded counterparts. The demand for generic medicines is increasing day by day due to their affordability and similar effectiveness. Thus, this scheme is a lifesaver to most of our population.

E-pharmacy

An e-pharmacy or internet pharmacy is basically buying medicines over the internet. You can consult a physician through chat or a phone/video call and get your prescription online. Some of the advantages of e-pharmacy are as follows:

Doorstep delivery: People who live far away from a pharmacy, the elderly, the disabled can receive their medicines right at the doorstep.
Time optimisation: Consulting online physicians and taking prescriptions from them is a quick process as one need not go physically from one place to another.
Cost-effectiveness: On the internet, drugs are sold at discounted or comparatively lesser prices than those at general medical stores.
Privacy: For patients who are hesitant or embarrassed to talk to doctors face to face about problems such as sexual disorders or issues with adolescence, privacy and confidentiality can be maintained.

Insurance schemes

There are health insurance schemes that cover the medical expenses of a patient including expenses incurred on medicines, hospitalization, surgeries, and other procedures. The policies either reimburse the medical costs or offer cashless treatments. These policies work best for patients who are hospitalised for critical illnesses which can be expensive in the long run.

Crowdfunding

In case loans are not an option or if insurance only partially covers the cost of your medicine, crowdfunding comes to the rescue. Now what is crowdfunding and how does it work? Crowdfunding is the practice of raising money from a large number of people who contribute a certain amount to your cause. This is the era of technological convergence. Social media has become an integral part of our life. Hence, online crowdfunding is relatively simpler and quicker than collecting funds by individually approaching people as it manages to grab people’s attention even more.

Read: 5 Critical Illnesses That Medical Crowdfunding In India Has Helped!

Another question arises: How to fundraise? It’s simple:

Approach a crowdfunding platform
Create a fundraiser
Add all the fundraising elements like story, images and bills
Share it with maximum people
Withdraw the raised amount

Advantages of crowdfunding for prescriptions:

It’s quick and easy: Crowdfunding sites are user-friendly. All you have to do is simply start a fundraiser and upload relevant documents such as your prescription bills.
Crowdfunding platforms are for anyone and everyone: From university students to the 60-year-olds, anyone can raise their cause and collect funds.
Low to no platform fee: Some platforms charge a non-refundable fee, commission fee and external payment gateway fees. Some platforms like ImpactGuru offers a 0% platform fee, helping the maximum of the funds you raise go towards your cause.
Multiple donation methods: Donations can be made in various forms such as credit cards, debit cards, net banking, e-wallet, NEFT, etc.
Mobile-friendly platform: Smartphones are an integral part of our lives. You can track real-time donation updates on your campaigner mobile app. You get access to fundraising insights and exclusive features there as well.