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Article

Patients and Physicians Struggle with Step Therapy Policy

Imagine needing medication to feel well but being told you must try a cheaper, less
effective drug first. This is the reality many Americans are facing due to “step therapy”, a
pharmacy cost-containment practice designed by benefit providers to control rising drug
costs.

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Pharmacy Deserts
Article

Pharmacy Store Closures Leave Pharmacy Deserts

Walgreens just announced the closure of 2000 stores out of its 8,600 locations across
the United States over the next three years. The company reported significant financial
challenges and declining profits behind the closure decision. Rural areas will be
particularly hard hit. Walgreens CEO, Tim Wentworth, emphasized the need to adapt to
changing consumer demographics and preferences, marking a shift in their business
strategy to ensure long-term sustainability.

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Article

Consumers Don’t Like Polypharmacy

Polypharmacy, defined as taking five or more medications a month, may be appropriate but it is not without risks. RazorMetrics’ report, the State of Drug Access, 2024 found that almost 62% of consumers had trouble with polypharmacy stating side effects, confusion, complicated regimens, and other problems.

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Article

Copay Accumulator Confusion

Have you tried to read your annual health benefits handbook and given up after a couple of pages? Most people just check their yearly deductible and total out-of-pocket amounts but the formula behind that calculus is beyond the first few pages. Health plans and employers that offer insurance collect premiums, but they also try to share the direct costs through copays for doctor appointments and medications.

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Article

RazorMetrics Stands Out Among AI-enabled HealthTech Startups

Artificial Intelligence (AI) is dominating headlines because it is a powerful tool for transforming healthcare. Rock Health’s latest report shows that health startups utilizing AI have captivated the investment community, drawing in a staggering 40% of the total funding, equating to $1.1 billion across 45 deals. The funding for AI health keeps increasing; it was 33% in 2023 and 29% in 2022.

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Article

Pharmacy Utilization is Driving Spending Increases

Thanks to rising pharmacy spending, our 2024 healthcare bills are outpacing national GDP growth. The latest Health Sector Economic Indicator Brief from Altarum revealed an interesting tidbit about what is driving the increase and it’s not what you think. Prescription drug prices only went up by 0.3% in February, but the amount of medication people are taking grew by a whopping 7.7%.

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Article

Pet Food, Shampoo, and High-Cost Medication

Extreme couponing is a cultural phenom featured on reality TV, but coupons are not just for the grocery store anymore. Pharmaceutical companies got in on the action. The general idea around offering a coupon is to attract consumers to your higher-priced product by offering a limited-time discount.

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Article

The Intersection of Drug Pricing Reforms and HealthTech Solutions

In an era where data is king, HealthTech companies are successfully driving effective drug cost-control strategies by leveraging analytics, demographic statistics, and care team insights. Since Congress enacted the HITECH Act, which offered financial incentives to health facilities to adopt Electronic Health Records (EHRs), health information entered the digital age. The wealth of health data combined with new Artificial Intelligence (AI) improvements has dramatically increased the computing capacity to process and analyze mountainous volumes of electronic patient data and drug price information.

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Article

Innovative Solutions to the U.S. Drug Shortage Crisis: The Role of HealthTech 

Generic drug shortages are becoming a chronic condition in the United States. Shortages lead to a domino effect across the healthcare landscape because the lowest-cost medication is not readily accessible. Last week, the Federal Trade Commission (FTC) and the Department of Health and Human Services (HHS) issued a Request for Information to Group Purchasing Organizations (GPOs) and drug wholesalers to investigate how competition, contracting, and regulatory policies impact generic drug availability. Missing from the discussion is how HealthTech companies could manage the gaps.

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