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Consumer Behavior Impacted by High Drugs, Says New Report

RazorMetrics, a healthcare technology company focused on lowering drug costs for health plans and self-funded employers, released their annual State of Drug Access report. The report is based on the findings of a consumer survey conducted through Pollfish, using a random sampling method of 1000 adults (18 years and older).

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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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Article

Navigating the 2024 Surge in Medication Costs

As we enter 2024, health plans and employers face a complex and challenging scenario shaped by escalating drug costs. The annual increase in drug prices that hit every January is more than a budgetary concern; it’s a critical issue in healthcare affecting the accessibility and well-being of employees and plan members. RazorMetrics has a solution to help self-funded employers and health plans make a dent in pharmacy budgets.

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Article

Healthcare Cost Disparities: A Deepening Crisis in the United States

A recent survey by the Commonwealth Fund is downright embarrassing. Compared to nine other high-income countries, the U.S. stands alone in its wide disparity in healthcare access, both within the country between lower and higher-income individuals and also between high-income people in other countries. 

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