Allscripts Healthcare Solutions (NASDAQ: MDRX) and its payer and life science business unit, Veradigm™, announced its findings on the impact of Veradigm’s RxTruePrice™, a solution designed to address patient challenges resulting in them foregoing, discontinuing or substituting their prescribed medication due to cost and a lack of prescription drug price transparency.
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Recent studies have revealed alarming statistics surrounding low medication adherence. For example, 33% of patients have purposely missed filling a prescription due to its prohibitive cost.1 And nearly 6% of patients have skipped taking their medications three times or more.1
Patient outcomes may improve if it were easier to ensure patients stay on their prescribed medication regimen by knowing the cost before they leave their doctor’s office. Higher out-of-pocket cost of prescription medications have been shown to correlate with increased prescribed prescription abandonment. With patients incurring a higher share of their healthcare costs, Veradigm’s RxTruePrice can help the 42% of Americans, who have reported they are struggling to pay for their necessary medication, gain a clearer view into pricing. 1
A recent Veradigm fielded study found that six out of ten RxTruePrice users have observed an overall improvement in patient prescription medication adherence since launching the solution.2 Users also felt that the availability of pricing data within their regular workflow held the potential to help them improve medication adherence as compared to alternate solutions, such as sponsored patient support programs and patient reminders.2
Used by tens of thousands of providers for tens of millions of price transparency transactions, Veradigm RxTruePrice provides users access to discounted health plan or pharmacy-benefit pricing, cash pricing, therapeutic alternatives and competitive prices at local and mail-order pharmacies. Further, all information is specific to each individual patient and is accessible in the provider’s e-prescribing workflow.
“Everyone knows healthcare costs are rising and people’s incomes can’t always keep up,” says RxTruePrice client Dr. Darla Kincaid of MD Pediatric Associates, in Coppell, TX. “Having that patient’s drug pricing information right there in the EHR, it makes for a phenomenal tool. It has helped us improve medication adherence as a practice, but just as importantly, it helps us better engage our patients. By demonstrating we share their concerns on cost of care, it makes us a team, and that is the goal.”
“Veradigm RxTruePrice is positioned to help bridge the gaps created by pharmaceutical companies’ pricing structures and positive patient outcomes,” said Veradigm CEO Tom Langan, “medication adherence is not a new problem, but now, it is a problem with a solution.”
Learn more about the impact of Veradigm RxTruePrice solution here.
1. Hamm, N. Managed Healthcare Executive. How High Drug Prices Affect Patients. May 2019. Available at https://www.managedhealthcareexecutive.com/drug-price/how-high-drug-prices-affect-patients
2. Results of Veradigm ePrescribe user survey conducted September 2019. Data on File.
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