The era of patients as mere passengers on their healthcare journey is over.
With more skin in the game than ever before, patients are becoming savvy, engaged and discerning consumers. They know that the name-brand drug with the $300 monthly price tag may not be the only option. They want a healthcare provider who has the information needed to compare and guide them to alternatives that achieve the same or similar outcome.
Most patients who skip a medication due to cost say they would have been willing to take a lower-cost alternative if their doctor or nurse had suggested one. This is the definition of a missed opportunity. And many are willing to switch healthcare providers in order to have cost conversations at the point of care.
These and other insights from our recent survey, Prescription Price Transparency and the Patient Experience, show greater demand among patients for cost conversations with healthcare providers at the point of care.
Here are a few highlights:
- More than half of patients had not taken a medication because it cost too much.
- Of those who skipped a medication due to cost, 94% would have been willing to take a lower-cost alternative if their doctor or nurse had suggested one.
- Nearly 70% of millennials say the ability to talk with their provider about prescription cost has a moderate or significant impact on which doctor they choose, compared with 51% of middle-aged patients and 32% of Medicare-age patients.
- Nearly one-third of (28%) of millennials would be willing to find a new doctor in order to have cost conversations about their prescriptions.
Download the full report to better understand how patients feel about talking to their healthcare providers about the cost of their medications. And learn more about solutions that address these needs from patients and deliver prescription price transparency to the point of care.