Consumers increasingly walk away from prescription drugs when prices reach $50, creating trend toward medication abandonment, according to Truveris data
Truveris’ OneRx® Digital Solution Supports Medication Adherence by Maximizing Prescription Drug Savings for Both Insured and Uninsured
NEW YORK – MARCH 22, 2016 – Consumers increasingly walk away from prescription drugs that treat medical conditions when prices reach the $50 threshold – creating a worrisome trend toward medication abandonment that can further compound numerous health problems, according to Truveris, the leading provider of pharmacy benefits solutions.
The data from Truveris, which also developed OneRx®, a mobile and web solution that supports medication adherence by maximizing savings, shows that about 85 percent of prescriptions are filled when the price at the register is around $30. Once the cost of a prescription surpasses $50, the rate starts a notable decline, dropping to 76 percent. The number of prescriptions filled drops even further, to 65 percent, when the cost is $90 and above.
“As healthcare costs continue to burden Americans, there is ample evidence of increased prescription costs leading to discontinuation of medications in order to save money,” said Kristin Begley, Chief Pharmacy Officer, Truveris. “We’re seeing a troubling trend that when drug prices reach a certain level, consumers are simply walking away, not filling the prescriptions and, in effect, gambling on their health. This should be an urgent wake-up call across the healthcare spectrum.”
“Adherence affects everything from individual patient health, to employee productivity, which place cost pressures across the system over time,” added Begley, who recently spoke on the topic at the 2016 Pharmacy Benefit Management Institute conference. “As patients avoid preventive care – such as drugs to control cholesterol or insulin to manage diabetes – their health often worsens, and ultimately ends up costing them more, both financially and with regard to their physical wellness.”
For patients who face rising prescription drug co-pays – contributing to overwhelming out-of-pocket healthcare costs – the new web and mobile solution OneRx can significantly lower those costs and is in fact the most robust prescription drug savings tool on the market. Launched in 2015 amid increasing consumer concerns and mounting scrutiny from lawmakers over rising drug prices, OneRx is the first tool to let patients price-shop medications at nearby pharmacies using drug- and insurer-specific pricing information across carriers. The solution – which is free, HIPAA-compliant and available for download on iTunes and in the Google Play store – displays the best price for consumers with and without insurance.
Truveris is on a mission to keep Americans healthy by decreasing prescription drug spend across the pharmacy value chain. Our proprietary Software-As-A-Service platforms empower clients – from the individual patient to pharmacy benefits stakeholders – with the tools to more effectively and efficiently manage the complexity and rising costs of medications today. Truveris is supported by Canaan Partners, New Leaf Venture Partners, Tribeca Venture Partners, New Atlantic Ventures and First Round Capital. For more information, visit Truveris.com or contact us at firstname.lastname@example.org.