Washington, DC (PRWEB) February 13, 2013
Medication non-adherence costs the healthcare industry nearly $300 billion annually, as reported by CMS and other public and private agencies. At the same time, statistics suggest that over 69% of the non-adherence cases are due to simple forgetfulness or procrastination by the patient. According to Dr Kalyan Rath, MD, co-founder of RxNetwork, “When patient sticks to their medication regimen, it reduces healthcare waste significantly.”
Currently, over 75% of the total population has at least one chronic condition for which they are taking at least one medication regularly. Meanwhile, over 39% of prescriptions never even filled or picked up from pharmacies. Dr. Aditya Samal, MD; co-founder of RxNetwork says “At least one out of every two people take maintenance medication for blood pressure, cholesterol or diabetic conditions. Our integrated approach provides a win-win solution for retail and mail-order pharmacies to address these conditions effectively”
Gyan Patra, RxNetwork’s co-founder and CEO points out the following, “The most common types of non-adherence with medication are related to consumer behavior and lifestyle. Consumers need effective tools and means to influence them positive behavior modification.”
Using RxNetwork’s pharmacy-connected mobile app, families and caregivers will be able to easily manage all of their medications in one place. Along with dose alert, they will also receive location-based alerts whenever they are at the store where they fill their prescriptions to order refills or pick up. Additionally, through the use of a rewards-based system, patients are encouraged to complete their on-time actions to receive gifts and discounts.
With mobile device usage expected to reach 75% of the population by 2015 according to industry research, now is the time to reach out to the consumer and engage them in a whole new way.
RxNetwork is looking for retail and mail-order pharmacies to participate in beta trials in late March of 2013.
RxNetwork is a Washington, D.C.- based startup founded in 2011. Its integrated consumer engagement solution addresses consumer medication adherence related problems with its unique time and location based service using mobile device connecting them with their retail and mail order pharmacies. Its product line includes cloud based browser and API platform for pharmacies and mobile app for consumers on Apple, Android and Windows devices.