When it comes to our prescriptions, yes we want them to include quality ingredients – but we don’t want them to break the bank.
Compounding pharmacies create medications that are an alternative to generic, “off-the-shelf” products. They allow for full customisation of your prescription – from the ingredients used, to the final product’s form, taste and even colour. But are compounding pharmacies cheaper in 2023?
Or is it more expensive to get your medication custom-made? Read on, as we discover the answers to these questions below.
What determines the cost of a compounded medication?
There are two main factors that influence the price of your compounded prescription:
- Cost of ingredients
- Cost of labour
Your compounded prescription is a customised medication option. There are many different ingredient options to choose from, as well as different final product types which can be produced. And it’s the variances relating to these which affects the final price.
A good rule of thumb is that the more commonly an ingredient is used by a pharmacist, then the more cost-effective this ingredient is to include. Likewise, the easier a compounded prescription is to make, then the less labour that is involved and the lower the cost will be. For example, formulating an oral capsule is more complex than creating a topical cream or gel. Therefore, the latter product will generally be a less expensive option.
Tips to help lower the cost of your medications
If reducing the costs of your prescriptions is important, you can discuss the below points with your compounding pharmacist as ways to minimise your expense:
- Only use the most economical ingredients
- Use ingredients that are already in stock
- Buy in bulk
- Be open to pharmacist-recommended alternatives