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2018 Real-Time Benefit Check National Adoption Scorecard Uncovers Implementation Models and Industry Adoption of Prescription Price Transparency Tools

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2018 Real-Time Benefit Check National Adoption Scorecard Uncovers Implementation Models and Industry Adoption of Prescription Price Transparency Tools

Industry research reveals why 50 percent of patients abandon prescriptions

PR Newswire

COLUMBUS, Ohio, Aug. 8, 2018 /PRNewswire/ -- Seventy-five percent of U.S. patients have been prescribed a medication that cost more than they expected, and 50 percent did not fill the prescription because the cost was too high1, according to new research released today in the 2018 Real-Time Benefit Check National Adoption Scorecard. The report utilizes new survey data, market research and industry statistics to present a comprehensive, objective overview of real-time benefit check (RTBC), a technology innovation that surfaces patient-specific prescription benefit details at the point of prescribing. The first edition of the scorecard serves as a baseline for industry status on RTBC and will be updated regularly.

According to a survey of 1,000 patients, half did not fill a prescription because it cost too much when they arrived at the pharmacy.

The report is published by CoverMyMeds, the authors of the ePA National Adoption Scorecard, with an advisory board of leaders from The American Medical Association, athenahealth, BestRx, Blue Cross Blue Shield of North Carolina, eMDs, Humana and University of Virginia Health System. Click here to view the full report.

"With high-deductible plans on the rise, many patients are required to pay more for their medications before they meet their deductible. Patients also have limited visibility into the cost of their prescription prior to leaving the provider's office, and as a result, are more likely to abandon their prescription at the pharmacy," said Melissa Paige, Pharmacy Patient Medication Access Principal Coordinator at University of Virginia Health System. "Real-time benefit check solutions can drive better adherence by providing visibility into medication costs at the point of prescribing. And, as the 2018 Real-Time Benefit Check National Adoption Scorecard reveals, these solutions must be accurate, reliable and have the ability to provide a full picture of the patient's benefit information."

The 2018 Real-Time Benefit Check National Adoption Scorecard introduces original research conducted by CoverMyMeds in partnership with SHC Universal and Research Now. Key findings from the 2018 report include:

  • An outline of the top five factors providers cite as most valuable in an RTBC solution, including: cash price, patient-pay information, formulary alternative options, prior authorization requirements and patient assistance program availability.1
  • While there is currently no standard for RTBC capabilities, the report tracks the development of a standard, led by the National Council for Prescription Drug Programs (NCPDP) work group on "Real-Time Prescription Benefit."
  • An analysis of the three implementation models for RTBC and their associated capabilities to help industry stakeholders evaluate available solutions.
  • Thirty-seven percent of U.S. patients stopped taking a medication because it was too expensive.1 Additionally, 74 percent of U.S. providers agree that it would be valuable to know about available patient assistance programs at the point of prescribing.1
  • Eighty-three percent of EHRs are committed to providing a real-time benefit check solution to providers at the point of care.1

For more information about real-time benefit check, visit the 2018 Real-Time Benefit Check National Adoption Scorecard.

1 – CoverMyMeds research in partnership with SHC Universal and Research Now, June 2018. Sample includes more than 1,000 U.S. patients and more than 1,300 U.S. providers.

About CoverMyMeds
CoverMyMeds, part of McKesson Prescription Technology Solutions, is a leader in electronic prior authorization (ePA) and real-time benefit check solutions, and one of the fastest growing health care technology companies in the U.S. CoverMyMeds' network includes more than 500 electronic health record systems (EHRs), 62,000 pharmacies, 700,000 providers and most health plans and PBMs. By facilitating appropriate access to medications, the company can help its customers avoid billions of dollars each year in administrative waste and avoidable medical spending caused by prescription abandonment. Visit www.covermymeds.com for more information.

74 percent of U.S. providers agree that it would be valuable to know about available patient assistance programs at the point of prescribing.

Seventy-five percent of U.S. patients report they have received a prescription that cost more than they expected, and 37 percent of U.S. patients stopped taking a medication because it was too expensive.

Eighty-three percent of EHRs are committed to providing a real-time benefit check solution to providers at the point of care.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/2018-real-time-benefit-check-national-adoption-scorecard-uncovers-implementation-models-and-industry-adoption-of-prescription-price-transparency-tools-300693615.html

SOURCE CoverMyMeds

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