Prescription drugs are a crucial part of healthcare, but sometimes, the prescriptions cascade out of balance. About 60% of adults in the U.S. are on at least one maintenance drug, and over 20% are polypharmacy – taking five or more prescriptions per month. While medications undeniably improve the quality of life for many people, the financial toll is a pressing issue for millions, especially for those managing multiple medications. A new report recently released by KFF, Public Opinion on Prescription Drugs and Their Prices, found that people are very concerned about prescription drug costs.
Expensive Medications, Frustrated Patients
An overwhelming 82% of adults believe the cost of prescriptions is unreasonable, which is not unreasonable since the cost of prescriptions goes up every year. Moreover, people taking multiple medications are more vulnerable to the high costs. Among those taking five or more drugs, 37% report difficulty affording their medications, and the financial strain leads to dangerous compromises. According to the report, 30% of adults report not adhering to their prescribed regimens at some point in the last year, with many skipping doses, cutting pills, or opting for over-the-counter alternatives due to cost.
Just over half (55%) of adults in the survey reported being worried about affording needed medications, including a quarter (26%) who are “very” worried.
Polypharmacy Compounds the Cost Issue
As the cost of medication goes up, the out-of-pocket expenses for polypharmacy patients can be unsustainable. But more than the economic strain, taking multiple medications increases the risk of side effects, adverse drug events, and increased hospitalization rates. While the medicines are supposed to be helpful, combining multiple prescriptions without careful oversight can be disastrous. When cost concerns lead individuals to ration or skip medications, the health risks of polypharmacy multiply.
Those on multiple prescriptions are more likely to alter their regimens due to affordability issues, according to the KFF report. When patients use cost-cutting tricks to save money, they compromise the effectiveness of treatments and increase the chances of adverse effects — problems that could be minimized through a carefully managed polypharmacy approach.
How RazorMetrics Can Help
RazorMetrics’ patent-pending Polypharmacy Solution supports healthcare coverage providers and their members, addressing the challenges of polypharmacy in a way that prioritizes health and affordability. Here’s how our approach works:
- Polypharmacy Review: RazorMetrics analyzes each individual’s medication profile to identify potentially unnecessary or conflicting prescriptions. Our evidence-based tools help streamline medication regimens, reducing the risk of adverse interactions and cutting down on redundant drugs that don’t add clinical value.
- Engaged Communication: Our program engages physicians directly to request a review of the patient’s full medication list and to confirm that each prescription is necessary. We work closely with patients and their healthcare providers to ensure they understand the importance of each medication, especially as it relates to their specific health goals. This collaboration empowers patients to manage their health safely and effectively.
- Visibility: Our work provides visibility to physicians, patients, and their health coverage plans. Since EHRs in different networks are not always in sync, a physician in one network may not see their patient’s prescriptions from a provider in a different network.
Reducing Costs, Improving Adherence
The high cost of prescription drugs and the dangers of polypharmacy have become major hurdles in healthcare, impacting lives across America. However, with proactive programs, like RazorMetrics’ Polypharmacy Solution, reducing costs, improving safety, and promoting healthier outcomes for individuals dealing with complex medication regimens are possible.
For clients, supporting members through such programs reduces overall healthcare costs and fosters a healthier, more satisfied member base. It offers peace of mind for members, knowing they can manage their health effectively without breaking the bank. RazorMetrics is committed to redefining polypharmacy management, bridging the gap between affordability and safe, effective healthcare.
