ORLANDO, Fla. – Prescription drugs aren't cheap, but a new smartphone app can help ensure people are getting the lowest prices in their area.
LowestMed works as an app or as a regular website, for those users who don't have a smartphone.
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"A lot of people who buy their medications, they have to cut back on groceries, they have to cut back on bills," LowestMed president Brad Bangerter said. "It affects their personal finances."
Bangerter launched LowestMed and said that regardless of whether a user has insurance, the app can save anywhere from 10 to 85 percent off retail prices.
"We have negotiated discount prices with 60,000 pharmacies nationwide," Bangerter explained.
He said that regulators don't set prices for drugs in the United States, so they can vary wildly from pharmacy to pharmacy. When a consumer enters the name of a drug in LowestMed, it compares prices at the nearest pharmacies.
After taking the app on a test drive, Local 6 found that Costco has the cheapest prescriptions. On average, customers will save about $35 on brand name prescriptions and $15 on generics.
Once a customer finds the lowest price, they click the app's discount code button.
"It will show the discount that goes to the pharmacist," said Bangerter. "They load those codes into their computer and you get immediate savings."
As an added bonus you can find coupons to attach to any good deal at the website internetdrugcoupons.com. This site is a sort of drug discount clearing house that boasts 600,000 page views each month.
It gives you access to discount coupons you can use immediately and as often as you want.
And don't forget pharmacy discount clubs-- find the best deal, use a coupon and then be sure to have a membership--- which can translate into discounts year round.