We saw a persistent problem in the marketplace—the lack of prescription drug price transparency—and we set about solving it.
Patients are paying a greater share of drug costs than ever before, through increased deductibles, co-pays, and coinsurance. They have no idea what to expect because prescription drug prices vary widely even at pharmacies just a few blocks apart. Prices can’t be easily compared because there has been no comprehensive source of prescription drug prices that are sold at retail pharmacies and updated in real-time. Until now.
This cutting-edge, EHR-embedded capability bypasses pharmacy benefit managers (PBMs) and marketing companies who promise to offer discounts but use the drug ingredient spread and other pricing schemes to overcharge patients and insurers. In fact, while PBMs are typically paying manufacturers 96 percent off the Average Wholesale Price (AWP), the “sticker price” for drugs, the prices they charge insurers and employers are between 70 percent and 85 percent off the AWP. PBMs are skimming 10-25 percent off each prescription. Other drug discount tools from drug discount cards, websites, to mobile apps that promise large discounts only carve small savings from these bloated PBM prices.
Affordability is the single biggest cause of medication non-adherence. To drive better adherence, compliance, and health outcomes, doctors and patients need to know the price of prescription drugs at the point of care, during the patient encounter.
Once that medication is prescribed, doctors and insurers need to know if and when patients fill and refill them to determine if patients are deriving the true therapeutic benefit from their medications. InteliSys Health® offers the first solution that delivers real-time intelligence directly to the provider within the EHR, including dynamic views of prescription drug pricing, drug fills, a cadence of refills and alternative drug therapies.
InteliSys Health® provides prescription affordability to patients and visibility to doctors and insurers, enabling better medication adherence, compliance and health outcomes.