Last year, I wrote that price competition between Wal-Mart and its rivals was a boon for pharmacy customers. Well, according to MarketWatch, the free market continues to work its magic:
In another expansion of its prescription drug program that has helped to increase its pharmacy sales, Wal-Mart Stores Inc. said it’s adding a 90-day supply of its prescription drugs for $10, increasing additional medications for women, and unveiling $4 over-the-counter medicines.
Wal-Mart’s $4 generic prescription drug program has already saved its customers a ton of money:
It has saved it’s customers almost $1.2 billion during the entire program period as consumers saved on expenses such as co-pays, the company said. Wal-Mart said acceptance of its offerings comes from both the insured and uninsured.
That’s the beauty of the market. Businesses want new customers, and the way to get them is to offer lower prices than the competition is offering. So, Wal-Mart and Target battle it out and we pay less for our meds.
Contrary to the BS promulgated by government health care advocates, the market will work just as well for the rest of the system—-if only those boneheads in D.C. will get out of the way.
[HT Healthcare Economist]
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