It is estimated that 30% of medication prescriptions are never filled and approximately 50% of medications for chronic disease are not taken as prescribed. Recent studies show medication non-adherence is a major concern nationwide with the lack of adherence contributing to nearly 125,000 deaths and 10% of hospitalizations. These impacts pull major resources from the already strained healthcare system with total costs being estimated between $100–$290 billion a year.
Rising drug prices are a major concern with payers. Many brand name medications have seen double-digit price hikes in recent years. Total drug spend in 2016 was $450 billion and brand drug price inflation was a major driver of that spend. The price of a medication paid at the pharmacy can directly impact a member’s ability to follow their care plan and the failure to take medications properly puts a significant financial strain on members, the payor, and society.
Empirian will actively support your organization by negotiating meaningful discounts and competitive medication pricing from our industry partners and pharmacy network. Our organization will further leverage creative medication plan designs that will help protect both payers and members from rising drug prices and ultimately promote adherence by advancing clinically sound and cost-effective medications.