The Shifting Tides of Patient Medication Price Transparency
Are you prepared for Real Time Benefit Check?
- Real Time Benefit Check (RTBC) creates a fundamentally new kind of dialogue between provider and patient as they select drug therapy
- Prescribers view the pricing information made available in RTBC at face value, with many reporting they will not consider that the patient’s cost will go down once their deductible is met
- The ability to see brand savings options in the EHR helps providers successfully prescribe their first choice medications
Patient medication price transparency in the EHR has changed the way providers communicate with patients and choose medications. With an eye towards ensuring adherence, providers understand that cost concerns must be taken into account in order to help their patients get on and stay on therapy. As a result, patients are becoming more involved in the decision-making process, with providers giving their recommendations on one or more medications and allowing patients to influence brand choice based on personal economic factors.
For this research, ConnectiveRx surveyed 144 prescribers of oral Type 2 diabetes medications about their reactions to seeing patient-specific prices in their EHR in general and the potential impact on a popular medication (“Brand X” for purposes of this white paper). Real patient prices for Brand X were displayed for both standard and high deductible insurance plans and compared to other common type 2 diabetes medications.