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Article: As Nation Looks at Ways to Hold Down Health Care Costs, Blue Cross Blue Shield of Michigan Shows Generic Drugs Reduce Drug Expenditures by $97 Million.
- Article from:
- PR Newswire
- Article date:
- May 17, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DETROIT, May 17 /PRNewswire/ -- A new study for the Michigan Economic Development Corporation concludes Michigan's employers and residents could save more than $500 million annually if spending on drugs and other medical goods was reduced by $60 per Michigan resident. Some savings are already underway.
Blue Cross Blue Shield of Michigan reports members with prescription drug coverage who used generic prescription drugs over expensive name brands generated more than $97 million in savings in prescription drug dollars spent by the health plan on behalf of its customers and members. The $97 million in savings spans a little more than two years, from fourth quarter ...