AUSTIN, Texas, July 12, 2023 /PRNewswire/ — Tom Dorsett, CEO of RazorMetrics wins the prestigious Merit Award for Business Leadership. RazorMetrics is an Austin-based drug cost-reduction platform for health plans, large
The Centers for Medicare and Medicaid Services (CMS) is proposing a change to self-funded small employers that could roll back some of these protections and undermine state insurance oversight.
RazorMetrics, an Austin-based drug cost reduction platform, has once again won the “Best Places to Work” award from the Austin Business Journal.
The annual award is only given to those companies that demonstrably go above and beyond to develop and reward employees. Companies are only eligible for the award if they are nominated and supported by their employees.
A recent study conducted by the CDC, titled “Characteristics of Adults Aged 18–64 Who Did Not Take Medication as Prescribed to Reduce Costs: United States, 2021,” delves into the factors influencing medication nonadherence due to financial constraints.
In the world of healthcare, optimizing medication costs while ensuring patient well-being is a delicate balance. RazorMetrics, a leading healthcare technology company, is revolutionizing this process by facilitating prescription switches through effective communication between prescribers, patients, and pharmacists. Leveraging our proprietary Intervention Codex, we provide cost-effective, therapeutically equivalent alternatives and improve healthcare affordability without compromising quality.
Drug costs are skyrocketing, but why? This is an essential question to ask since we must understand the cause of high drug costs in order to properly address the problem. As someone who has worked in healthcare and life sciences technology for more than twenty-five years, I’ve seen drug costs grow and dominate pharmacy budgets across the United States. Despite substantial technological improvements during this period, drug prices remain unaffordable for many Americans. After extensive contemplation, I’ve concluded that the root causes of high drug costs fall into five categories.
The use of biosimilars is increasing. There are currently 40 already approved by the FDA. Biosimilars are a less expensive version of a brand-name biologic
According to a recent survey of 1,200 healthcare providers by the National Center for Primary Care at the Morehouse School of Medicine, physicians have been slow to adopt digital health technologies such as mobile apps, wearables, and remote patient monitoring. These tools allow providers to better manage acute and chronic conditions and reduce patients’ travel costs and infection risk.
We all hate waiting in line. It has been called a “timeless form of torture” commemorated by famous authors, including Dr. Suess in the dreaded
Many employers self-fund and go at risk for drug costs, and this gives them more control. But for years now, the rising cost of medication has caused employers significant grief. There may finally be some help from the Centers for Medicare and Medicaid Services (CMS). In 2019, the CMS got serious about transparency and introduced a new rule requiring health plans to report the cost of prescription drugs on an annual basis.
And, we are waiting…
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