New Report from RxUtility: The U.S. Healthcare System Is Losing the Fight for Medication Affordability

Despite billions in available copay assistance, outdated infrastructure keeps patients from accessing critical savings

NASHVILLE, Tenn.--(BUSINESS WIRE)--In a report released today, RxUtility reveals new data that shows how the U.S. healthcare system is behind in the fight for medication affordability. As patients face skyrocketing out-of-pocket costs and contradictory information around pricing, data shows more than $30 billion in annual manufacturer prescription copay assistance is available, while only 10 percent of these coupons are ever used.

The report, “Healthcare is Losing the Fight for Medication Affordability,” examines the gaps preventing patients from accessing the billions in savings available through pharma manufacturer copay coupons and cash discount programs.

Other key findings from RxUtility include:

• For the first time in U.S. history, there are four different prescription prices available to consumers. Copay coupons represent a $6 billion opportunity to reduce medication costs for consumers per year.
• Among the top conditions for which copay coupons are available, include: cancer, dermatology, diabetes, women’s health and mental health.
• In instances where copay coupons are available, the potential savings can be substantial. Copay coupons, when applied, covered 85% of the cost of the drug.
• Fewer than 10% of copay coupons are used by patients, because information regarding availability of these tools isn’t integrated into the technology that supports medication transactions. Often, neither pharmacists or providers are aware that copay coupons for particular drugs exist.

“What is needed is real-time medication affordability assistance at the point of prescribing and pickup,” says Miriam Paramore, CEO and founder of RxUtility. “As interoperability between systems becomes easier to achieve, we must prioritize digital pathways that make information regarding medication assistance available to every stakeholder in the patient journey.”

The report calls for urgent investments in real-time, connected systems that make medication affordability information visible and actionable for everyone involved with prescribing and dispensing medications. That means embedding price transparency tools, automated coupon application and lowest-cost comparisons into platforms clinicians already use.

About RxUtility

RxUtility provides healthcare technology purpose-built to make medications affordable for consumers. It is the only company to connect health systems, payers, pharmacists and digital health partners at the point of prescribing and pick-up with real-time copay assistance through its API-powered platform. Learn more at www.rxutility.com