Drug coupon
Drug Coupon
A Drug Coupon (/drʌɡ 'kuːpɒn/) is a coupon issued by a manufacturer or retailer that offers a discount or rebate on the purchase of a specific prescription drug.
Etymology
The term "Drug Coupon" is a combination of the words "drug", derived from the Old French "drogue" meaning "supply, stock, provision", and "coupon", which comes from the French "couper" meaning "to cut", as coupons were historically cut from printed material.
Usage
Drug coupons are primarily used in the United States where they are distributed to consumers by pharmaceutical companies and are used as a form of marketing strategy. They are designed to lower the out-of-pocket cost for the consumer and increase the sales of the pharmaceutical company's drug.
Related Terms
- Pharmacy Benefit Manager (PBM): An organization that manages prescription drug benefits on behalf of health insurers, Medicare Part D drug plans, large employers, and other payers.
- Co-pay: A fixed amount a patient pays for a covered health care service, usually when they receive the service.
- Deductible: The amount a patient pays for covered health care services before their insurance plan starts to pay.
- Health Insurance: A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.
Criticism
While drug coupons can provide financial relief to patients, they have been criticized for potentially increasing overall healthcare costs. This is because they can lead to higher utilization of more expensive drugs, even when a less expensive, generic equivalent is available.
See Also
- Prescription Drug Pricing in the United States
- Healthcare in the United States
- Pharmaceutical Industry
External links
- Medical encyclopedia article on Drug coupon
- Wikipedia's article - Drug coupon
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