MEDIPENSE PROPOSES CURE FOR MEDICATION ADHERENCE CHALLENGE
With over 4 billion prescriptions filled annually in America, people get sicker, return to hospitals or die needlessly due to medication errors and medication non-adherence. Between 20% to 80% of patients make errors in taking medication and 20% to 60% stop taking medications before being instructed to do so. In addition, 16 percent of patients fail to fill a new prescription and 30% of prescriptions are never refilled.
In the USA, “we spend 86% of our health care dollars on the treatment of chronic diseases” according to the CDC.
Dispensing errors are flagrant. There are many points of failure between the time a physician prescribes, and a patient consumes. These failures occur in the hospital, long term care facility, seniors’ residences and at home. At almost every stage where there is human involvement, there are potential sources of error.
…the cost of treating non-adherent chronic disease patients is at least twice as high as adherent patients with the same conditions
From a financial perspective, waste is consuming our health care dollars. The United States spends nearly $300 billion USD a year on additional doctor visits, emergency room visits and hospital admissions due to medication non-adherence. Billions more are wasted around the world. The US pharmaceutical industry alone loses an estimated $188 billion annually due to medication non-adherence. Imagine what that extra revenue could yield in reduced pharmaceutical costs and increased research and development.
Solving the medication adherence problem is actually quite simple. In our white paper, we begin by reviewing the end-to-end medication process, examining each potential point of failure and proposing a multifaceted solution. Finally, there must be follow-up. Automation and patient empowerment play key roles in the enhancement of medication adherence.
One major part of the cure is RxPense®, a personal medication dispensing and remote monitoring solution that ensures Seniors, Disabled Veterans, Chronic Care Patients or Clinical Trial Participants, take the correct medications on time and promptly notifies caregivers or Health Care Providers if they miss a dose. It can also capture (though external sensors), monitor and store vitals along with the electronic patient record for better follow-up. It gives users access to digital health care and tele-medicine, re-enforcing patient empowerment, enabling monitoring and improving outcomes.
Benefits for Health System Stakeholders
Increasing medication adherence through automation, empowerment and monitoring improves patient outcomes and achieves benefits for all health system stakeholders:
- Government, insurance and other payers reduce spending – patients who are more adherent with medication regimes use fewer health services
- Healthcare professionals and providers deliver better care more efficiently at lower risk
- Pharmaceutical companies increase profitability and deliver value beyond the pill
- Pharmacy retailers ensure repeat orders, increased fulfillment and enhance brand loyalty
- Physicians have the opportunity to become proactive, rather than reactive
Every one percent improvement in medication adherence results in $2 billion in savings to the U.S. healthcare system and a $4 billion revenue increase to pharmaceuticals.
Benefits for Patients
The benefits for patients includes a better quality of life, fewer hospital visits, better health outcomes, reduced travel and health costs and increased social interaction with family and friends.