Podcast

Drug Discount Revolution

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Between rising drug prices, increased cost-sharing, and difficulty determining true out-of-pocket costs – drug discounting has grown in popularity as savvy consumers look for simple solutions and affordable options. Jen, Mindy & Ryan discuss this recent discounting explosion and what it means for the healthcare industry – starting with a quick primer on how one of the most popular methods, drug discount cards, actually work (01:06). Fueled by public concern around prescription affordability (08:34), discounting companies continue to proliferate and see enormous growth – often filling a market gap in consumer choice, transparency, and convenience (11:44). Discounting companies are poised to upend PBMs’ pharmacy benefit economics, plan sponsors’ decisions, and the entire generic market (14:13). They also present an opportunity for organizations who can harness the potential of increased access and empowered consumerism in the prescription drug space (18:10).

Podcast Tags: healthcare, drug costs, drug prices, drug discount cards, discount pharmacy, retail pharmacy, PBMs

Source Links:

· https://www.drugchannels.net/2020/08/how-goodrx-profits-from-our-broken.html

· https://www.drugchannels.net/2021/03/how-goodrxs-rapid-growth-creates.html

· https://www.drugchannels.net/2021/08/why-goodrxnot-amazonmay-be-true-pbm.html

· https://www.protocol.com/manuals/health-care-revolution/prescriptions-goodrx-coronavirus-interview

· https://www.pharmacytimes.com/view/the-truth-about-pharmacy-discount-cards

· https://www.frierlevitt.com/articles/service/pharmacylaw/the-hidden-dark-side-of-prescription-discount-cards-what-your-pharmacy-needs-to-know/

· https://www.uspharmacist.com/article/a-pharmacists-primer-on-prescription-discount-cards

· https://www.kff.org/health-costs/poll-finding/public-opinion-on-prescription-drugs-and-their-prices/

· https://www.beckershospitalreview.com/pharmacy/drug-prices-soared-by-nearly-4-times-the-inflation-rate-in-5-years-house-investigation-finds.html

 

For additional discussion, please contact us at TrendingHealth.com or share a voicemail at 1-888-VYNAMIC.

Mindy McGrath, Healthcare Industry Advisor

[email protected]

Ryan Hummel, Executive and Head of Provider Sector

[email protected]

Jen Burke, Healthcare Industry Strategist

[email protected]

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