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
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Mindy McGrath, Healthcare Industry Advisor
Ryan Hummel, Executive and Head of Provider Sector
Jen Burke, Healthcare Industry Strategist