Easing financial prescription burden

I welcome that Boots have finally decided to follow my lead in taking the required steps to ease the financial burden on the prescription paying public in these difficult times.

It is unfortunate that it has taken them nearly three years to catch up with me in implementing cost-saving changes and have only reluctantly done so after they, along with other major pharmacy chains, were exposed late last year as charging the highest prices for prescriptions medicines (Irish Independent, Oct & Nov 2011).

I wonder what has brought about this ‘Road to Damascus’-like conversion by Boots from being one of the most expensive providers of prescription medicines to now being the champion for value and transparency in their prescription pricing structure.

In reading their press release, the case studies make interesting reading, as do the prices quoted. I priced the cases against my own pricing structure, which I introduced in 2009 and is in line with the current HSE prescription pricing system.

Case A: If Mary the asthmatic brought her prescription into my pharmacy, she will pay €78.19 a month in comparison to the current Boots price of €94.65, this translates into a saving of €16.46 (17%) a month, which is a grand saving of €395 since Sep 2009.

If Mary were to keep her prescription with Boots she might save up to €5.76 (7%) a month from Jun 2012, but it will take her until at least Christmas 2017 for her to recoup the €395 she lost between Sep 2009 and Jun 2012.

Case B: John the cardiovascular patient, will pay €38.52 for his prescription in my pharmacy in comparison to Boots charging €77.88, which is a saving of €39.36 (51%). Even under the new Boots structure John will still be paying €65.92 a month, which is €27.40 (42%) more expensive than the price he will pay in my pharmacy.

I can think of many cases where Boots customers will see the cost of the prescriptions increasing substantially from June 2012, for example the young woman on the oral contraceptive pill and who also is on Eltroxin for her low thyroid levels. This is one but one common case of someone who will get a nasty shock from Boots’s new ‘transparent’ pricing structure.

I am amused by the fears of media reporters and commentators about the grim future for the ‘small independent pharmacy’ being unable to compete and match Boots and the other large chains in the forthcoming prescription price war.

The only thing that I can’t match the ‘Big Boys’ on is national media coverage.

I have nothing to fear and am well able to compete with the Boots and others on price while they will never be able to match the personal knowledge and understanding I have of my customers and community that I serve.

Dan Ahern

Independent pharmacy owner

Aherns Pharmacy

Farranfore

Killarney

Co Kerry