INTELLIGENCE IN ACTION

Patients, Pocketbooks and a Podcast on Prescription Price Transparency

August 01, 2018

The need for greater price transparency in healthcare is all over the news. Policy makers across the country have taken up the cause. Patients are demanding real change, as healthcare costs continue to rise and hit pocketbooks hard. Given that Surescripts processes nearly 5 million electronic prescriptions each day, we’re focused on leveraging technology to improve prescription price transparency specifically. Americans spent $425 billion on prescriptions in 2015, a more than 12 percent increase from 2014. And the nation’s spending on medicines is forecasted to reach $610-640 billion in 2020.

In a recent Becker’s Healthcare podcast, Surescripts Chief Executive Officer Tom Skelton talked about how the Surescripts Network Alliance is taking prescription price transparency from hot topic to healthcare reality. He also talked about why.

“We’re trying to step back and look at things more holistically to ensure we’re addressing issues that may be impacting medication adherence,” Skelton said. “We know that ten percent of people who abandon their prescriptions do so because of cost. We also have data that shows that about 40 percent of patients will abandon treatment when a prior authorization is required.”

Tom Skelton | Becker's Hospital Review

For more perspective on the criticality of price transparency, interoperability and more, check out the article and podcast

Related Articles

August 22, 2019

Surescripts Supports CMS in its Effort to Streamline Prior Authorization for Prescribers and Expedite Patient Access to Needed Medications

While we strongly support the CMS goal of accelerating the use of electronic prior authorization, Surescripts urges CMS to clarify in the final rule that NCPDP SCRIPT Standard v2017071 can be used for both Part D and non-Part D plans. Not doing so could result in reducing rather than accelerating utilization of electronic prior authorization.  Read more...
July 25, 2019

How Aurora Health Care Used Electronic Prior Authorization To Cut Clinic Staff Overtime By More Than Half

The reality of traditional prior authorization is this: While the prescriber, the PBM and the pharmacy team spend valuable time making phone calls, tracking down information and filling out forms, the patient waits. And waits. And waits. In other words, patients face delays in receiving their prescriptions, clinicians lose valuable time and the health system faces mounting overtime costs.

Read more...
June 19, 2019

Health Plans and PBMs Team Up to Get Patients Needed Medications Easier and Faster

Anyone who works in health IT knows how gratifying it is when we offer clinicians a tool that is so much better than old processes, and they run with it. And it’s especially transformative when technology replaces a manual process—one that absorbed a great deal of time and resources.  Read more...

INTELLIGENCE IN ACTION, DELIVERED TO YOUR INBOX