Blog & News

We have a few things to say about prescription savings.
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

RazorMetrics’ Leads the AI Pack in FAVES

At the end of October, the Biden Administration released its comprehensive executive order on Safe, Secure, and Trustworthy Artificial Intelligence. Last week, the White House followed up with fresh commitments to enhance AI transparency, risk management, and responsibility within the healthcare sector.

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Water to Pharmacy Desert
Article

Getting Water to Pharmacy Deserts

On a recent episode of “What the Health,” journalist Joanne Kenen called out a rising problem: drugstores are closing across the country and creating pharmacy deserts. Local pharmacies have long served as lifelines for rural and low-income areas, acting as accessible healthcare hubs and spots for grocery items. Regrettably, recent developments in the retail pharmacy landscape are raising concerns about the accessibility of essential healthcare services and products in already vulnerable communities.

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Drug Savings with Biosimilars
Article

Drug Savings with Biosimilars

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

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Rule Changes Coming to CMS
Article

Can the new CMS Updates Help Employers with Drug Cost Reporting and Savings?

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.

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