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Look around for best prescription prices from different pharmacies

By ERIN CONROY
Associated Press
Monday, May 19, 2008


If you've been going to the same drugstore for as long as you can remember, it might be costing you more than you know.

A recent study shows there are huge disparities in prices for prescription drugs, with the difference sometimes more than $100 for the same prescription. Prices vary from store to store, and a prescription sometimes can cost much less at a pharmacy of the same chain that's just down the street.

Consumer Reports magazine made more than 500 calls to 163 pharmacies nationwide to gauge prices of four different prescription drugs. One of the drugs, generic alendronate for osteoporosis, had a price range of $124 to $306.

Besides placing calls and comparison shopping, other cost-saving tips include:

--Check independents. While mom-and-pop stores are not the cheapest overall, many are highly competitive.

--Talk with your employer and pharmacy benefit managers, who are in charge of processing prescription drug claims. They might be able to negotiate rebates and discounts on behalf of their clients.

--Buy generic drugs, which can cost 20 percent to 50 percent less than their brand-name equivalents.

--Check for discount programs specific to age or insurance.

CFOs vs. CEOs

The majority of chief financial officers think the roles of chief executive officer and chairman should be held by different people, according to a survey.

Of those polled by accounting firm Grant Thornton LLP, about 82 percent said the two positions should be independent of each other, while a third said their company was not fully compliant with federal corporate accounting laws under the Sarbanes-Oxley Act.

More than 90 percent said shareholders should have greater access to compensation information in proxy statements filed with the Securities and Exchange Commission.

"We're seeing that chief executive officers do want shareholders to step in and be as knowledgeable as possible when it comes to playing a role in this process," said Ed Nusbaum, CEO of Grant Thornton. "There seems to be an overwhelming response in regards to their corporate governance. They are saying what they feel is in the best interest of the company and the investors, and that is that the CEO may have too much control, something they might not normally come forward and say without a veil of anonymity."




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