Revolutionizing Drug Cost Management
MedImpact Healthcare Systems, Inc., recognized as the largest independent provider of health solutions and pharmacy benefit services, has launched a pioneering solution that integrates prescription coverage with third-party discount programs. This initiative is designed to alleviate the burden of drug costs on both healthcare plans and their members.
How MedImpactSave Works
In the first half of 2024, a notable aspect of the MedImpactSave program was reported. On average, consumers saved $18.88 for each prescription filled while healthcare payers saw a reduction in their overall drug spending. This innovative approach allows members to compare their out-of-pocket costs against a multitude of third-party discount programs. Consequently, they can secure the lowest possible price, which is then applied towards their deductible, regardless of whether the claim is submitted to the plan.
A Win-Win for Everyone
While members benefit significantly from these savings, the advantages extend to the healthcare plans as well. With the use of third-party discount programs for claim adjudication, plans can incur zero costs. Notably, in the first half of 2024, about 5.7 percent of formulary claims were fulfilled using this innovative discount approach. This has enabled MedImpact clients to potentially save millions on drug expenditures.
Exceptional Savings on Common Medications
Members observed tremendous benefits, particularly with specific medications. Patients utilizing Teriflunomide, a treatment for multiple sclerosis, enjoyed savings exceeding $2,516 for each prescription refill. Similarly, those prescribed Mesalamine for ulcerative colitis saw savings of up to $629. These figures highlight the effectiveness and significance of the MedImpactSave initiative in supporting patient health outcomes while controlling costs.
A Seamless Experience for Patients
Convenience is essential when it comes to healthcare. One striking feature of MedImpactSave is its simplicity. Members do not need to present a separate discount card, utilize websites or apps, or file claims. The experience is designed to be entirely transparent and user-friendly, ensuring that patients can focus solely on their health without unnecessary complications.
Future Innovations at MedImpact
According to Zach Johnson, Chief Innovation Officer at MedImpact, the commitment to enhancing the patient experience extends beyond pharmacy solutions. The organization is leveraging cutting-edge technology to provide greater savings and continuously aims to expand its repertoire of health solutions. Johnson emphasizes the dedication to finding innovative ways to improve member health and manage benefits effectively.
About MedImpact Healthcare Systems
Based in San Diego, MedImpact Healthcare Systems has established itself as a leader in independent health solutions, technology, and pharmacy benefit management over the past 35 years. Currently, the organization serves a vast population of more than 20 million members and processes over $40 billion in annual pharmacy transactions. MedImpact remains committed to helping healthcare payers optimize member health while reducing overall drug costs. More information about their services and offerings can be accessed through their various communication channels.
Frequently Asked Questions
What is MedImpactSave?
MedImpactSave is a program that provides consumers with discounts on prescription medications by comparing their out-of-pocket costs with third-party discount programs.
How much can consumers expect to save?
On average, consumers saved about $18.88 per prescription filled under the MedImpactSave program in early 2024, with some savings reaching significantly higher amounts for specific medications.
Does MedImpactSave require members to present a separate card?
No, the MedImpactSave program is designed to be entirely transparent, meaning members do not need to show a separate card or take any additional steps to receive their discounts.
How does this solution benefit healthcare plans?
Healthcare plans benefit from MedImpactSave as they incur no costs when claims are processed using third-party discount programs, helping save substantial amounts on drug expenditures.
What is MedImpact’s commitment to innovation?
MedImpact is dedicated to continuous innovation in health solutions and technology, aiming to improve member health and provide cost-effective solutions across the healthcare spectrum.
