Generic Drugs: Reducing The Cost Of Care

Course overview

Generic drugs have been life saving for many Americans faced with dire financial situations and no comprehensive medical coverage. On average a brand-name drug costs at least three or four times the price of a generic drug, and for someone who takes multiple drugs every day, the costs can be prohibitively high. To make the approval process shorter and efficient, the Drug Price Competition and Patent Term Restoration Act (also known as the Hatch-Waxman Act) was passsed. This law allowed an abbreviated new drug application as long as the manufacturer was able to show that the generic drug had 1) the same ingredients; 2) the same route of administration; 3) the similar dosage; and 4) the similar strength as the brand-name drug. Prescribing provider behavior is vital if generics are to be used. Many prescribers do not prescribe generics out of habit or out of concern that the generic may not be safe or effective. In some cases, prescriber have no idea that generic counterparts exist and consequently never bother to write it down on the prescription. APNs with prescriptive authority must be informed about use of generic drugs. Patients may also be reluctant to use generic drugs, and RNs play a critical role in educating them about generic drug usage.