When consumer takes her medication on time, she will make more refills resulting in more transaction revenue for pharmacies. ACOs and PCMH receive increased outcomes and payers reduce their financial risk exposure significantly.
Washington, DC (PRWEB) July 30, 2013
RxNetwork's patient engagement solution is driven by pharmacies, coordinated by care providers including physicians and nurses as well as family caregivers. They can remotely monitor daily drug usage of their patients or their near and dear ones to intervene proactively wherever necessary.
As John Lechleiter says in his July 21st column in Forbes, medicine is most expensive when it's not taken at all. Medicare spends more than 75% of its total expenses for treating chronic patients. According to various research conducted by New England Healthcare Institute (NEHI) and others, patient behavior plays a significant role along with cost factor and clinical questions to become adherent. An Express Scripts report suggests that 69% of adherence problem is due to forgetfulness and simple procrastination behavior of the consumer. Approximately $317 billion is wasted every year for ER visits, diagnostic tests, hospital stays to treat complications arising out of medication non-adherence.
Treating non-adherence will need a segmented approach because of socio-economic condition, disease state and educational level of the consumers. Gyan Patra, cofounder and CEO of RxNetwork says, up to 90% of the non-adherence problems can be addressed, leveraging low touch mobile device of consumer and/or her family member or caregiver along with effective care coordination by the help of remote monitoring. Who can be the better person than pharmacists to provide the medication schedule information electronically? It has been proven that passive signals for every dosage increase the adherence by 90%.
RxNetwork’s patent pending adaptive scheduler engine is a step forward in creating the medication schedule for the consumer after it is dispensed. Upon getting from the source, it delivers them via mobile platform for each and every dosage through the complete therapeutic cycle. This eliminates the biggest barrier for the consumer of entering them manually with hundreds of keystrokes in an app. This will not only add the convenience to the consumer but will also eliminate the confusion surrounding the schedule of multiple drugs. Based on the type of mobile device, consumer will receive signals via rich mobile app or text to web. Not only the alerts for every dosage, consumer will also receive reward points in response to each and every on time action which will be honored by participating pharmacies, care providers, payers and others for healthy rewards.
Usually a consumer makes more number of trips to the pharmacy than the physician's office. In case the pharmacy is a grocery store or super market, it is most likely that consumer is making even more trips for other household related shopping. RxNetwork’s rich mobile app leverages the location aware feature to alert inside the store in case a medication is due for refill saving her additional trips. Additionally, app also facilitates the consumer to place the refill order with a click of a button. That’s like a virtual assistance with real convenience.
When consumer takes her medication on time, she will make more refills on time resulting in increased transactions for pharmacies. ACOs and patient centered medical homes receive increased outcomes and payers reduce their financial risk exposure. According to a study by Health Affairs published on August 28th, 2012 on patients with diabetes, congestive heart failure and hypertension, the savings to additional drug cost is estimated to be order of 10:1.
RxNetwork is a two-year-old start up working on care coordination and remote monitoring solution for consumer medication adherence. Its product line includes cloud based adaptive medication scheduler, comprehensive rewards platform, analytics solution and API platform for pharmacies and care providers and mobile app for consumers on iOS and Android devices.
E-mail press(at)rxnetwork(dot)com for more information about this topic.