These mobile applications and cards include significant drug ingredient spreads and admin fees that are filling the pockets of the PBM’s and their marketing partners administrating these programs to the tune of billions of dollars annually.
Las Vegas Nevada (PRWEB) November 29, 2016
InteliScript, LLC, a world class healthcare technology and software development company today announced the formal integration and deployment launch of its “real-time” and market disruptive “Point-of-Care/Price Compare” software platform, across multiple top-10 electronic medical and health record systems nationally reaching hundreds of thousands of healthcare providers, hospitals and clinics.
InteliScript’s proprietary software and processes integrate directly within the e-Prescribing workflow of EMR/EHR systems delivering “real-time drug pricing” and “real-time benefit check” capabilities to confront and reduce the rising costs of prescription medications realized by millions of Patients and Insurance Carriers/Payors.
InteliScript’s software platform and solutions will deliver billions of dollars of annual savings to both Patients and insurance Carriers/Payors by bringing true prescription price transparency within the e-Prescribing workflow and during the encounter between the Patient and their healthcare provider.
“Our #1 objective when we embarked in the development of our technology was to deliver the absolute lowest prescription cost to Patients and Carriers/Payors alike and to disrupt the market status quo. InteliScript discovered early on that Patients are subject to high insurance copays, deductibles, and drug plan exclusions and through extensive research conducted by InteliScript, it has shown that these same Patients and consumers have been targeted and inundated with advertising for prescription drug discount cards and mobile applications containing prescription drug discount cards from a plethora of PBM’s and marketing companies over the last 10+ years.InteliScript discovered through its own use of these mobile applications and discount cards that they promise discounts as high as 96% of which were very rarely if ever realized. With our management team having extensive experience in the PBM industry, Patients and consumers in general don’t realize that the prices that they are paying when using these mobile applications and cards include significant drug ingredient spreads and admin fees that are filling the pockets of the PBM’s and their marketing partners administrating these programs to the tune of billions of dollars annually,” said Thomas Borzilleri, Inventor and acting CEO of InteliScript.
Ingredient spreads, (the markup and difference between the PBM’s contract rate they hold with the pharmacy and what the Patient pays) coupled with admin fees that are added to the total prescription price (the admin fee market range average is $5.00 to as high as $15.00 per prescription) artificially drives up the final combined cost to the Patient by as much as 60% or more on each prescription.
- InteliScript maintains a “no spread” contract rate and model across 64,000+ Pharmacy Chains and Independents nationally delivering the absolute lowest price to the Patient with prices delivered lower than any drug discount mobile application or card in the market.
- Point-of-Care/Price Compare also analyzes the Patient’s benefit levels of their insurance coverage in “real-time” and in many instances, can deliver a cash price, especially on Generic drugs, that is below the copay under their plan.
- InteliScript’s technology takes it one step further by analyzing and displaying the 5 lowest priced pharmacies geographically located nearest to the Patient’s residence in “real-time” and directly on the EMR/EHR screen allowing the Patient and their health care provider to jointly choose the lowest cost option as contract rates vary across pharmacy chains, grocery stores, and Independent pharmacies.
Through this technology, InteliScript has now eliminated the need for a mobile application, card, voucher, or coupon for presentation to the pharmacy entirely, thus reducing the workflow for the pharmacist and their staff. With this level of price transparency, the Patient now knows exactly what the cost of the prescription is and to determine if the prescribed therapy is affordable within the office encounter. This capability enables the Patient to be directly engaged in their healthcare decisions in concert with their healthcare provider which will drive adherence, compliance, the lowering overall abandonment rates, and as a result, delivering improved health outcomes.
Alternative Drug Solution, an Alliance Between Practitioner, Carrier, Payor, and Patient........
InteliScript’s revolutionary “Alternative Drug Solution” was designed specifically to address the insurance Carrier and Payor market by revealing the identity of the prescribed drug in “real-time” while determining and instantly selecting a clinically and therapeutically equivalent drug that delivers the absolute lowest ingredient cost and contract rate to the insurance Carrier/Payor. Healthcare professionals generally prescribe therapies based on both the Patient’s condition and their familiarity of a specific drug treatment. On the other hand, insurance carriers have no idea what a healthcare professional has prescribed until after they have received and paid the claim. InteliScript’s proprietary software and platform bridges this gap allowing for “real-time” interaction of both stakeholders at the point-of-care; within the e-Prescribing workflow delivering an alternative preferred drug that will deliver the absolute lowest cost to the insurance Carrier/Payor.
“This year, a published 3-year study of top 5 insurance carriers determined that the substitution of an alternative and clinically equivalent drug versus what was originally prescribed by the healthcare provider would have delivered a savings to the carriers of more than $73 billion dollars over the same period,” said Borzilleri. “Our software and processes were developed to address this specific issue. We are first to market with this highly capable and disruptive technology and we look forward to delivering additional and continued savings to millions of Patients and associated stakeholders in the healthcare value chain to lower overall healthcare costs”.
InteliScript is a US based world class technology and software systems development company specializing in healthcare. InteliScript's technological capabilities unlock the power of data to drive better insights and results making them actionable while cutting through the complexity tapping the full potential of Big Data with ease. InteliScript uses data in new ways to improve processes that drive interactive success through more precise Patient data analytics and do it all with products architected for the healthcare industry-leading speed, efficiency and simplicity. Our systems master data, maximize data quality and integration, capture, transform and link structured and unstructured data from virtually any source or data repository – across the domains of physical, social, ecommerce, and mobile – to gain insight and drive more effective business decisions all in "real-time."
Contact & Press Inquiries: InteliScript, LLC
Thomas Borzilleri, Inventor