Prescription Drug Price Comparison for Savings Act of 2004 - Requires the Secretary of Health and Human Services to establish and maintain an Internet website using the information supplied by participating pharmacies to allow an individual to compare for each zip code the usual and customary prices for a range of strengths and quantities of covered outpatient drugs sold by retail pharmacies that receive Medicaid payments.
Amends title XIX (Medicaid) of the Social Security Act to direct States to: (1) require a participating pharmacy, concurrent with filling a prescription for an individual receiving assistance under Medicaid, to report to the State its zip code and the usual and customary price for the covered outpatient drug as of the date the prescription is filled; and (2) submit this information to the Secretary to enable the Secretary to post monthly updates on the website.