Pharmacy Tourism- people are coming to Cayman to fill prescriptions!
The latest trend, among the ranks of Americans travelling abroad to get medical and dental work at cheaper prices, is the practice of travelling abroad to fill prescriptions-- and apparently Cayman is one of the top destinations.
According to a recent article by Bloomberg, “Only a relative smattering of employers have embraced what is known as “pharmacy tourism,” but state governments are intrigued by it, and it looks likely to grow as speciality drug prices put financial pressure on employers.”
Perhaps it was only a matter of time… According to a recent trip advisor community question, “We'll be heading to GC soon, and I was just wondering if anyone knows whether drug prices might be cheaper in GC than in US. I have several high priced scripts and I was thinking about bringing my scripts with me and getting a few filled in GC if the price is right…”
A company by the name of PCM or Prescription Care Management, claims to offer savings of over 70% on prescriptions valued at over $5,000 by offering a service called concierge pharmacy treatment by which customers receive luxury accommodations, high end and personalized concierge bookings, FDA approved medical attention and prescriptions and locked-in rates.
These services are typically offered for those who need extremely expensive speciality drugs that are cheaper in places like Cayman and Mexico.
According to Bloomberg, ScriptSourcing LLC, located in Baltimore, provides the service to three or four people per month out of a specific number of companies. Cayman is one of their destinations for this service.
“Patients can go on an employer-sponsored “mini-vacation” during which they get their medications,” a company representative said, in an interview with Bloomberg. This saves the employer 50-60% for expensive speciality medications, and in the case of drugs such as Humira, the savings can be as high as $50,000 per year.
The practice is apparently completely legal.