The High Cost of Polypharmacy
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.
Self-Funded Employers Navigating Healthcare Budgets and Employee Wellbeing
Self-funded employers are in a pinch because healthcare costs are predicted to go up by another 7.7% next year. The increase follows the upward trend over the past few years – 6.5% and 6.9% increases in 2023 and 2024, respectively.
RazorMetrics Expands C-Suite to Cover Exponential Growth
Austin health-tech startup continues upward trajectory AUSTIN, Texas, Oct. 3, 2024 /PRNewswire/ — RazorMetrics, a healthcare technology company focused on lowering drug costs continues its exponential growth. In 2022, the company grew 2X and 11X in 2023. This year, the company expanded again, projecting 3x growth. RazorMetrics’ success reflects how important saving money on drug costs is around […]
Employer Benefit Costs Going Up in 2025
Analysts predict another difficult year for employers as health benefit costs are slated to rise by 5.8% Mercer’s recent “National Survey of Employer Sponsored Health Plans” predicts the surge in 2025 will mimic the increases seen in 2023 and 2024. The substantial annual increase is a shift from previous decades, where annual increases hovered around 3%. Without implementing cost-cutting measures, employees could see a jump in their premiums and copays.
A New Way to Manage the GLP-1 Explosion
GLP-1 receptor agonists are all the rage these days for the promise of easy weight loss. GLP1s are FDA-approved for managing Type 2 diabetes but physicians are prescribing the medication for off-label use to help their patients lose weight. Between 2020 and 2023, the use of GLP-1 medications such as Ozempic and Wegovy, increased sharply due to off-label prescriptions. While these medications are very effective, they are also very expensive, which is challenging insurers, employers, and patients alike. As the demand for GLP-1 drugs continues to grow, particularly for weight loss, understanding the complexities of coverage and finding cost-saving strategies has become a top priority.
The Promise of Precision Medicine
In the U.S., medical treatment is based on the diagnosis, not the person. It’s a one-size-fits-all approach in which physicians prescribe medications that have been approved to treat the disease state. The approach has improved lives for many but not all. Recently, a new approach to pharmacology is developing, precision medicine, which tailors a treatment to an individual’s biology.
Will Medicare’s New Negotiating Power Reduce Drug Costs for Everyone?
If you were confused that in the U.S. the government was not allowed to negotiate drug costs with pharmaceutical companies but corporations could then you are in good company. Facing enormous opposition, the Inflation Reduction Act (IRA) included a provision, “Medicare Drug Price Negotiation Program” to allow Medicare to negotiate a limited list of 10 […]
Making Sense of Discount Card Programs
Over the past few years, prescription discount cards have become a go-to tool for tech-savvy early adopters looking to save on their prescriptions. But recently, you might have detected a noticeable uptick in the use of discount cards among friends and family. The surge in drug prices and resulting out-of-pocket costs for patients is a […]
A Looming Healthcare Affordability Crisis
Over the past year, 30% of Americans reported skipping necessary medical care due to cost. Simultaneously, nearly the same percentage—29%—worried about being able to afford care if they got sick today. These statistics are from recent data collected by the West Health-Gallup Indices and the numbers underscore a growing dissatisfaction with the U.S. healthcare system, […]
