Wal-Mart touts generic drug program savings — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Wal-Mart touts generic drug program savings

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Arkansas-based Wal-Mart says its $4 generic prescription drug program has saved consumers $1 billion as of March 10. The company reports that the $4 prescriptions now account for 40% of all prescriptions it fills. Nearly 30% are purchased without insurance.

Florida consumers benefited from the second-highest savings nationwide: $72,443,467. The company reported the highest savings in Texas, at $132,628,224. North Carolina came in third, with savings of $48,241,530.

The company calculated the savings based on the difference between its average generic prices before it introduced the program on a state-by-state basis in 2006. It does not factor in the prices of more expensive brand-name drugs, which would mean even greater savings.

Tip: Encourage employees to check out various retailers’ prescription programs to see whether they include any prescriptions they regularly use. 

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