Do Your Users Get the Best Rx Pricing?

The unfortunate truth about medication pricing is that most Americans are overpaying for their prescriptions. Even with aid from health insurance, brand name drugs often exceed $100 each time a prescription is filled. With such high markups, medication adherence in America has been on a steady decline and now, just seven out of 10 consumers get their prescriptions filled.

While there are many factors that result in such high prices, health plan users typically are not limited to brand name medications and can save a significant amount of money by taking generic versions. These varieties can cost up to 99 percent less than their name brand counterparts, which not only saves consumers money, but helps pharmacy benefit managers cut prescription spending. Despite the appeal, generics are still frequently left out of the limelight.

As a PBM, offering consumers a variety of medication options for their prescriptions can help push more cost effective generics, but without proper technology, a user will continue to be left in the dark. If you’re looking to increase user satisfaction and cut spending, now is the time to consider advancements in mHealth. Here are a couple of examples:

• Personalized web portals: Increasingly popular, PBMs can benefit by offering consumers more ways to discover their options. If you cater your software to each users’ drug and medical history, you can increase member satisfaction by showcasing options for generics that include pricing and availability.
• Personalized mobile apps: As mHealth advances, so does the ability to create robust mobile applications for drug pricing. Since most consumers today use smartphones, giving them the option to explore drug pricing based on their personal parameters for insurance coverage stand to reduce spending while increasing satisfaction.

If you’re failing to give your users options for generic drugs, you are failing to provide them with the most satisfactory pharmacy experience. With advanced mHealth technologies and services, such as those offered by RxEOB, you can provide users more information in an uncluttered and streamlined manner. To find out more, contact RxEOB today.