The grant funding will be used to demonstrate the value of NCPDP standards in providing consumers with transparency and choice on prescription medications, while also providing payment assistance and discount options to lower out-of-pocket costs and improve medication adherence and outcomes.
SCOTTSDALE, Ariz., Dec. 18, 2023 /PRNewswire-PRWeb/ -- The NCPDP Foundation Board of Trustees has awarded a grant to RxEOB.Com, LLC ("RxEOB"), to fund an innovative project that will use NCPDP's real-time standards to make it easy and convenient for consumers to view medication options, alternatives and cost information, as well as payment assistance options and the ability to select their preferred medication and pharmacy before a prescription is filled. This is the NCPDP Foundation's first grant funding a project that uses the same NCPDP industry standards available to prescribers, pharmacists, and other healthcare industry participants, to bring consumers transparency and choice on prescription medications. The new, consumer-facing use of NCPDP's industry standards can help improve medication adherence and outcomes, patient safety, and enhance efficiencies to improve the healthcare experience for patients, pharmacists, and prescribers.
The grant supports all three of the NCPDP Foundation's strategic initiatives: increasing patient access to care; increasing the role and value of pharmacists; and enhancing patient safety. It also aligns with the NCPDP Foundation's Vision of a healthcare ecosystem that continuously innovates and fully incorporates health information technology (HIT) to deliver better outcomes for the common good of all.
The grant project will use NCPDP's SCRIPT Standard for ePrescribing and its Real-Time Prescription Benefit Standard to provide consumers information on their out-of-pocket costs for medications. Specific NCPDP SCRIPT transactions used in the project include CancelRx and RxChange. Both transactions fortify patient safety and simplify workflows for pharmacists and prescribers, offering an automated and efficient means for pharmacists and prescribers to collaborate on adjusting and discontinuing medication therapies.
Under the grant project, patients in the study will use RxEOB's RxWallet® app to view medication information and out-of-pocket costs prior to dispensing. Patients will also have access to available payment strategies such as discount card services, and coupons, as well as compendia information on label warnings, overdose information and more, to streamline access to comprehensive medication information. The patient can then select a pharmacy provider with full knowledge of their out-of-pocket costs, which supports medication adherence and ultimately, health outcomes. While this grant project uses RxWallet, the patient engagement strategy using NCPDP's SCRIPT and Real-Time Prescription Benefit Standards can be used by others in the industry. The project, which can benefit consumers, pharmacists, prescribers and payers, has specific aims for lowering patients' out-pocket costs, drug spend for benefit sponsors, and prescription abandonment rates.
"We are excited to see the outcomes of this grant, extending the powerful capabilities of the NCPDP SCRIPT and Real-Time Prescription Benefit Standards to the consumer," explained J.W. Hill, MBAHCM, CNED, Executive Director, NCPDP Foundation. "While prescribers can use the Real-Time Prescription Benefit Standard at the point of care to discuss medication options with patients, gaps in care still remain, making the consumer-pharmacist relationship an important and trusted option to ensure patients don't abandon medication therapy altogether due to costs."
Hill continued, "Using NCPDP Standards to support consumer transparency and choice meets the expectations of engaged patients and caregivers who are proactive in managing their health. It also relieves pharmacists and prescribers of unnecessary work so they can focus their time on clinical care, optimizing their expertise and training."
"This implementation of the RxWallet® application provides RxEOB and the NCPDP Foundation a wonderful opportunity to demonstrate an untapped use of NCPDP's standards in action, improving patients' access to care by working collaboratively with their health plan, doctor and pharmacy" said Robert Oscar, CEO of RxEOB. "We appreciate the work that the NCPDP Foundation is doing to put the power of the industry in the patient's hands."
The NCPDP Foundation grant to RxEOB.Com, LLC, was made possible in part by the Foundation's $1 Million Endowment in honor of NCPDP Founder, Benjamin D. Ward, and The Mary and Charles D. Pulido Endowment Fund as granted to the NCPDP Foundation by the NCPDP Board of Trustees.
About NCPDP Foundation
The NCPDP Foundation is a 501(c)(3) nonprofit charitable organization headquartered in Scottsdale, Arizona and is affiliated with the National Council for Prescription Drug Programs (NCPDP). The NCPDP Foundation was established in December 2012 to support research, education, and charitable involvement within the healthcare industry. For more information, visit http://ncpdpfoundation.org.
About RxEOB
RxEOB.com, LLC is a digital patient engagement company grounded in 20 years of health information technology, serving some of the nation's largest health insurance providers based in Richmond, VA. RxEOB believes patients, families, employers, and health plans make the best decisions about health and cost when they are informed; and provides applications and tools to help sponsors manage their prescription benefits to reduce overall drug spend. RxWallet is the revolutionary new application designed to assist consumers to achieve the same goal. For additional information visit RxWallet.com.
Media Contact
Janet Cabibbo, NCPDP Foundation, 4804771000 x 104, [email protected], www.NCPDPFoundation.org
Maggie Bruce, NCPDP Foundation, 4804771000 x 144, [email protected], www.NCPDPFoundation.org
SOURCE NCPDP Foundation
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