Medication management platform Medisafe has partnered with prescription price comparison service GoodRx to allow users to save money on their drug purchases. As a result, users will benefit from localized coupons integrated into Medisafe’s app for more than 80 percent off list prices.
“Numerous studies have linked higher medication costs to lower adherence,” said Jon Michaeli, EVP Marketing and Business Development for Medisafe. “Working with GoodRx, we can reverse this trend with an economic impact of billions of dollars in savings annually.”
One study found that patients with chronic conditions such as diabetes decreased their use of medication by up to 23 percent in reaction to the doubling of copayments. With leading pharmacy benefit managers (PBMs) adding to their formulary exclusion lists (i.e., those prescriptions ineligible for insurance coverage), patients are increasingly forced to decide between alternate medication not prescribed by their doctor and opting out of treatment altogether.
Half of all generic drugs increased in price from August 2013 to August 2014, helping push 2014 prescription spending 12.6 percent higher than 2013. Also a study has found that 24 percent of Americans have difficulty paying for prescriptions and 40 percent took risks with their prescriptions due to cost (e.g., not filling a prescription, skipping a dose).
In recent months, Medisafe has been expanding the feature set of its app. In April, it added biometric integration, and in August – integration with Human API was announced to automate medication list imports.