RazorMetrics releases annual State of Drug
Access report
AUSTIN,
Texas, May 21, 2024 /PRNewswire/ -- 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). The participants were
asked questions about prescription costs, actions taken when
faced with high prices, and attitudes towards generic drugs, AI,
providers, and healthcare coverage decisions. The survey
encompassed a broad range of demographics, ensuring a comprehensive
understanding of the impacts across different sections of the
population.
"Understanding the tactics consumers use to lower their drug
costs is key to creating solutions that work to help them improve
access to affordable medication," said Tom
Dorsett, CEO of RazorMetrics.
Findings include:
- Sticker shock hits most people at the $100 to $250
threshold.
- When faced with high prescription costs, most people turn to
their physician for help.
- More than 16% of respondents reported abandoning a prescription
due to cost, highlighting the danger of high drug prices on
patients.
- Prescription delivery is becoming more popular, especially when
the cost is equal or lower, indicating convenience is a rising
factor.
- Polypharmacy is a struggle, consumers citing complicated
regimens and side effects as major hurdles.
- AI is an unpopular alternative to a physician.
- Consumers showed a strong preference for healthcare providers
who prescribe low-cost drugs and health plans that offer drug
savings.
For the full report visit here.
About RazorMetrics
RazorMetrics is a healthcare
technology company whose SaaS-based platform uses AI to lower drug
spend for health plans, self-insured employers, and organizations.
RazorMetrics' unique, physician-driven approach process is simple
and requires no extra clicks in the EHR and no external programs or
apps to access. Switches are straightforward and easy to make, and
the entire process stays within the normal clinical workflow. The
platform is complementary to existing pharmacy initiatives and
works with PBMs and other drug cost savings solutions to
optimize results. RazorMetrics is fully scalable and customizable
to each client's unique variables and formularies. For more
information, visit www.razormetrics.com.
Media Contact:
Casey DeMoss, RazorMetrics
casey@razormetrics.com
504-982-0468
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SOURCE RazorMetrics