Consumers today Google information about the latest TV brands and filter options based on size, resolution, and brightness. Many people also compare prices and choose to order online or pick up at a store based on convenience and shipping costs.
Yet, while TV sales totaled a whopping $21 billion in 2020, prescription drug spending reached an astounding $535 billion in the same year—with little to no transparency at all. Unfortunately, there are dozens of tools available to help consumers select the best TV, but systemic hurdles when people’s health is at stake.
Understanding prescription drug prices has become so much of a challenge that most providers don’t even discuss pricing with their patients, causing sticker shock at the pharmacy and non-adherence to prescribed treatment plans.
It seems like there is often no easy answer for the cost of a prescription, or what alternatives could save a patient money and help treat their condition.
Historically, complicated EHR processes and a lack of interoperability with plan and PBM databases have made provider’s jobs harder than they need to be, and only add to the headache of finding the right medication for each patient. However, working with technology to provide insight into patient care costs doesn’t have to be burdensome. It is now possible to create a sense of informed autonomy so that providers and computers can work together in harmony.
The ultimate goal is for care decisions to be made by patients and providers, with the support of innovative technology solutions. These solutions should not stand in the way of the care decision-making process; instead, they should provide valuable insights that might be missing in a typical care interaction.
As an example, RxRevu’s real-time benefit check solution delivers patient-specific benefit details to the EHR. The result? Based on a patient’s unique plan details, providers can see which medications are covered and which require a prior authorization, as well as details on therapeutic alternatives, costs, and where the order can be filled. Put simply, RxRevu provides real-time pharmacy pricing within the EHR, to help providers make the most informed care decision with their patients.
“There is an undue burden on doctors to figure out a patient’s prescription regimen from all of the available combinations,” RxRevu founder Carm Huntress said on The Business of Pharmacy podcast. “That’s not a human endeavor, it’s a computational endeavor. I see a future where we’re rationalizing the universe of options down to a small set the doctor can look at so that they can focus on the other issues—the socioeconomic issues, the empathetic issues—that the computer can’t rationalize.”
With a fully-integrated user interface and the lowest error rate in the industry, RxRevu’s real-time prescription benefit technology brings accurate data to the point of care. This allows for complete transparency in terms of prescription options, similar to the transparency available in the TV selection process. When patients know the price of their medication upfront, providers can focus on more meaningful conversations and can prescribe the right drug, at the right price, in real time.