Wal-Mart touts savings from generic drug program — 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 savings from generic drug program

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

North Carolina consumers benefited from the third-highest savings nationwide: $48,241,530. The company reported the highest savings in Texas ($132,628,224) and Florida ($72,443,467).

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 price 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 medications they regularly use. Employees might find generics that cost even less than their current co-pays. 

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