When it comes to cost, ingredients, and effectiveness of generic drugs, Americans still have limited knowledge, according to recent findings from Prescription Solutions, a pharmacy benefit manager, and UnitedHealth Group. Surprisingly, nearly one third of Americans do not know or believe that generics have the same active ingredients and effectiveness as brand name drugs.
This is especially troubling because “generics help make health care more affordable without compromising results. Many Americans erroneously believe that the most expensive drug is always the most effective drug,” says Jacqueline Kosecoff, PhD, chief executive officer of Prescription Solutions.
And while generics are cheaper than their brand name counterparts, 71 percent of consumers remain concerned about drug costs — with more than 25 percent having delayed filling, not filled, or not taken as directed a prescription drug to save money.