We know that consumers place a high value on cost and convenience, but recent data shows that nearly half of Americans are willing to risk their health for those two Cs. In a 2021 ASOP Global Foundation survey, 46% of respondents said they “would be open to purchasing prescription medicines from an online source not sanctioned by the FDA” if it increased their medication access and decreased their costs. Research from the AJMC also found that an increase of just $10 in copayment raises the likelihood of prescription abandonment by 10%.
Patients often attempt to avoid rising prescription costs in scary ways, and we now know that many purchase medications with no guidance—29% of respondents said they would likely use a website to order prescriptions without consulting a healthcare provider!
There is good news, however: Healthcare professionals remain a trusted source of information. The better news: Utilizing a real-time prescription benefit (RTPB) tool can help increase that trust.
With RTPB, providers can view what a patient’s out-of-pocket expense will be, as well as lower cost options, if they are available. This enables providers to discuss care options with patients and ensure they are prescribed an affordable treatment, whether that’s through a retail or mail-order pharmacy. Cost and convenience, check. RTPB can also prevent providers from running numerous test scripts to uncover medication pricing at each pharmacy, eliminating the possibility of a patient mistakenly picking up a drug that was unintentionally prescribed.
Without RTPB, patients may be left to their own devices (literally) to figure out how to get affordable drugs—often at a risk to themselves (according to ASOP, 95% of the online pharmacies worldwide operate illegally). Without guidance from their provider or plan, patient safety risks increase dramatically.
RTPB Enables Personalized Care
Healthcare is finally catching up to other industries in which transparency allows for a better, more personalized experience. Fortunately in healthcare, a personalized experience also often brings the benefit of convenience when searching for affordable medication options.
Arrive Health’s real-time prescription benefit solution enables a personalized treatment experience by giving doctors the information they need—specific prescription costs based on a patient’s coverage, deductible, and pharmacy—at the point of care. By integrating this data within the EHR, Arrive Health makes it accessible and easy to switch to a better medication option (because patients aren’t the only ones who value convenience).
Affordable and accessible treatment is just one click away; we just need to make sure it’s the right click. To learn more about Arrive Health’s real-time prescription benefit check and how we improve care access for patients, get in touch with us today.