Change Healthcare, a market leader in healthcare consumer engagement and cost and quality transparency, has joined forces with RxREVU to deliver an enhanced medication selection experience to help consumers, payers and providers make more informed decisions about treatment options, especially those pertaining to therapeutic alternatives. Such functionality is increasingly important as high-deductible health plans continue to grow in popularity, spurring higher out-of-pocket costs and demands for better tools to enable consumers to make value-based decisions.
"Improving access to cost and quality data at the point of care is critical to reducing costs and eliminating waste in the healthcare system," said Change Healthcare President Doug Ghertner. "By working with RxREVU, we're able to provide our customers with highly comprehensive prescription decision support. We are excited to work with RxREVU, as they are on the leading edge of prescription drugs analytics and value-based care solutions."
"We help improve the decision process as it relates to medications. By providing prescription cost and quality metrics, such as cash pricing, co-pay pricing, therapeutic alternatives and efficacy scores, we can help everyone make better decisions about medications, leading to lower costs and better outcomes," said Carm Huntress, CEO of RxREVU. "We're pleased to be working with one of the leading transparency providers in the space, Change Healthcare."
Both Change Healthcare and RxREVU recognize the tremendous opportunity to reduce healthcare costs and improve outcomes by focusing on the point-of-care decisions. According to ExpressScripts Drug Trends Report, there was $427 billion dollars of pharmacy related waste in 2013. $53 billion was spent on unnecessarily higher-priced medications when more affordable alternatives were available. $37.4 billion was wasted on overpaying at the pharmacy counter when another pharmacy would have been less expensive. And $337.1 billion was spent on avoidable medical and pharmacy expenses as a result of patients' nonadherence to medications.
SOURCE Change Healthcare