Substituting generic CV medications for brand-name may confer substantial savings
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A study published in Circulation: Cardiovascular Quality and Outcomes found that substituting generic CV medications for brand-name medications in the Medicare Part D prescription program may result in substantial cost savings.
“Increasing the use of generic medications would decrease patient out-of-pocket costs and make medications more affordable, which may, in turn, improve adherence rates and reduce the financial burden of medication therapy,” Alexander T. Sandhu, MD, MS, instructor of medicine at Stanford University School of Medicine, said in a press release.
The researchers conducted a cross-sectional study of CV therapies in the Medicare Part D database of prescription medications in 2017. Researchers evaluated drug fill patterns for CV therapies with both generic and brand-name options and determined the generic substitution ratio to estimate potential savings when substituting generic medications at national, state and clinician levels.
In 2017, of the nearly $23 billion spent on 169 CV drugs in the Medicare Part D prescription programs, about $11 billion was spent on medications that had brand-name and generic options for patients. However, only 2.4% of drug fills were prescribed for the brand-name option and comprised 21.2% of total medication spending.
Researchers observed an estimated $1.3 billion in CV drug cost savings if generic medications were prescribed instead of brand-name medications. When accounting for estimated brand-name rebates, there was an estimated $641 million, or 6.2% of spending, in cost savings when substituting generic medications for brand-name medications. This included $135 million in savings borne by patients.
In addition, 8.2% of the 418,836 prescribing physicians prescribed the least amount of generic CV medications but may account for 50% of additional potential cost savings, according to the researchers.
“Generic substitutions have similar efficacy as brand-name options; however, there may be misinformation and hesitation about the safety and efficacy of generics. FDA regulatory oversight into the safety and efficacy of generic substitutions is critical for improving the use of generic medications,” Sandhu said. “Ensuring that patients almost always receive the generic option will further reduce patient out-of-pocket costs. Health care systems should continue to find ways to encourage clinicians and patients toward generic medication options when available.”
Reference:
- Use of generic heart meds in Medicare Part D could save more than $600 million a year. https://newsroom.heart.org/news/use-of-generic-heart-meds-in-medicare-part-d-could-save-more-than-600-million-a-year. Published Dec. 9, 2021. Accessed Dec. 9, 2021..
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