Medisafe Partners with GoodRx to Help App Users Lower Medication Costs
Medisafe integrates localized coupons into its user experience for more than 80 percent off list prices.
BOSTON — Medisafe, the leading mHealth platform for medication management with two million users, announced today a new partnership with GoodRx, America’s leading prescription price comparison platform. Through this partnership, Medisafe addresses the rising costs of medications (and health care) to consumers, a principal factor in non-adherence.
Recent studies show that half of all generic drugs increased in price from August 2013 to August 2014, helping push 2014 prescription spending 12.6 percent higher than 2013. Today 24 percent of Americans have difficulty paying for prescriptions and 40 percent of Americans took risks with their prescriptions due to cost (e.g., not filling a prescription, skipping a dose).
“Higher copays and coinsurance rates from public health exchanges and private insurers are putting a heavy financial burden on consumers. That’s not healthy for them, and it’s not healthy for our healthcare system overall,” said Jon Michaeli, EVP Marketing and Business Development for Medisafe. “Numerous studies have linked higher medication costs to lower adherence. Working with GoodRx, we can reverse this trend with an economic impact of billions of dollars in savings annually.”
One study found that patients with chronic conditions (e.g., diabetes) decreased their use of medication by up to 23 percent in reaction to the doubling of copayments. With leading pharmacy benefit managers (PBMs) adding to their formulary exclusion lists (i.e., those prescriptions ineligible for insurance coverage), patients are increasingly forced to decide between alternate medication not prescribed by their doctor and opting out of treatment altogether.
“GoodRx is excited to join forces with Medisafe to help more consumers save money on their prescriptions,” said Doug Hirsch, co-founder and co-CEO of GoodRx. “By integrating our database of millions of prescription prices and discounts with the Medisafe app’s advanced medication management platform, we are making it easier than ever for the 70 percent of Americans who regularly take a prescription drug to adhere to their medication schedules.”