CVS Caremark (NYSE: CVS) announced today the results of its 2009 Health IQ study which examined consumer attitudes and behaviors around health care and prescription usage. Among its findings, the study underscores the need for expanded health care coverage along with cost savings realized by improving health care delivery.
Of all consumers surveyed, 13% reported that they were not covered by a prescription drug health insurance plan. Those under the age of 65 and those with a household income of less than $50,000 are less likely to be covered. Additionally, 15% of caregivers are not covered. About 1 in 10 consumers (12%) don't obtain yearly checkups, but the number jumps to 26% for those without prescription drug coverage.
While many consumers consider prescription costs confusing, most (66%) have not spoken to anyone in the past 12 months about how to save money on their prescriptions and some (one-fourth) simply don't know who to ask. Among the one-third who have sought advice, an equal proportion spoke to their pharmacist or their doctor.
"Prescription drugs account for about ten percent of what we spend annually on health care in the U.S.," said Troyen A. Brennan, M.D., Executive Vice President and Chief Medical Officer, CVS Caremark. "Health care reform and expanded coverage should include prescription drug benefits because prescription medications are one of the most effective ways to reduce overall health care costs."
CVS Caremark has made improving medication adherence a top priority. Through CVS Caremark's Proactive Pharmacy Care program, the Company is focused on helping consumers understand the benefits of taking their medicine consistently, and how they can reduce the cost.