Financial Considerations

Cost of medications

The cost of medications in Canada can vary based on factors such as type of drug, dosage, location, and insurance (e.g. public plan, private insurance). Specific details related to the cost of medications may change over time.

Dispensing Fees Amount of money paid to a pharmacy or pharmacist for preparing and dispensing medications. : Charges by pharmacies for the professional service of dispensing medications.

Medication Costs: Costs of medications can vary. Generic drugs are generally less expensive than brand-name drugs. The pricing structure may include a combination of the actual cost of the medication and a markup by the pharmacy. For more details on the distinction between brand name and generic medications Medication with the same active ingredient as a brand name drug, is taken the same way and offers the same effect. Can be produced once the patent on the brand name drug has expired. , see Module 2.

Blister Packs Type of medication packaging that contains pre-formed pockets or cavities that holds pills, tablets, or capsules. and Packaging Fees: Some pharmacies offer special packaging services or blister packs Type of medication packaging that contains pre-formed pockets or cavities that holds pills, tablets, or capsules. for individuals who take multiple medications.

Medication Delivery: Many pharmacies offer medication delivery to your home. Some pharmacies may charge for this service.

Compounding Pharmacies: Compounding pharmacies are pharmacies that specialize in producing customized medications (rather than those made by manufacturers) in order to meet individualized needs. Compounding pharmacies typically charge for the customization of medications. The cost often varies depending on the complexity of the compound.

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Note: It is possible for your healthcare provider to make treatment recommendations without knowing the financial implications to you (e.g. if your insurance will cover a certain treatment). It is important to ask questions and explore costs and coverage ahead of time.

References

Health Canada. (2024, January 15). Dispensing Fee Policies in Public Drug Plans, 2021/22. Government of Canada. https://www.canada.ca/en/patented-medicine-prices-review/services/npduis/analytical-studies/supporting-information/dispensing-fee-policies.html

Ministry of Ontario. (2023, December 7). Get help with high prescription drug costs. https://www.ontario.ca/page/get-help-high-prescription-drug-costs