- 1 in 4 report having had to change a treatment plan due to issues accessing medicines, underscoring the impact of barriers to access on patient care
ROCHESTER, Mich., April 19, 2022 (GLOBE NEWSWIRE) — OptimizeRx Corp. (the “Company”) (Nasdaq: OPRX), a leading provider of point-of-care technology solutions that help patients start and stay on treatment, today announced the results of a survey of 102 specialist physicians highlighting the negative impact of inefficient pathways on patient care. Specifically, the survey found that physicians would make a different treatment choice for one in three patients if access to medication was not a factor, and physicians had to change their treatment plan for one in four patients due to problems of access to medicines.
The survey, conducted in March 2022, also reveals the time it takes and the financial cost to physician practices to initiate specialty medications, and further indicates physicians’ growing interest in technological solutions in the electronic health record ( EHR) that help ease the prescription burden. Survey respondents included 21 dermatologists, 20 gastroenterologists, 21 neurologists, 20 oncologists and 20 rheumatologists.
Karina Castagna, Senior Vice President of Access Solutions at OptimizeRx, said, “Pharmaceutical manufacturers devote significant resources to ensuring patients can access life-changing medicines, but this survey shows that patients still do not always have access to the treatments they need. This snapshot should prompt manufacturers to take a closer look at how physician prescription charges can limit a patient’s ability to start their doctor’s preferred first choice of treatment.
Castagna added, “Having effective digital market access strategies in place is key to easing the prescribing burden on physicians. EHR-based solutions provide new opportunities for market access teams to streamline the prescribing and treatment initiation processes, reducing the impact of market access challenges on treatment choice. Our smart platform is designed precisely for this – to ease pain points throughout the patient journey, allowing physicians to prescribe the therapies of their choice while minimizing the financial burden for patients and physicians.
Other survey highlights:
- Physicians continue to struggle with the time taken, costs incurred and resources expended to start patients on medications – especially for specialty brands. 69% of physicians rated the process of initiating specialty medication as very or extremely difficult.
- On average, doctors said they and their staff spent almost four hours a day helping patients access medicines, with an estimated cost to their practice of $5,800 per month.
- Dermatologists, gastroenterologists and neurologists said they spend five or more hours a day helping patients access drugs
- Oncologists and rheumatologists reported the highest costs in their practices to help patients access medications at $6,700 and $7,900 per month, respectively.
- There is a substantial appetite among physicians for digital access solutions that streamline the therapy initiation process and reduce time, cost, and resource constraints for physicians and their staff. But while these digital tools are available, they are not yet an integral part of pharmaceutical manufacturers’ market access strategies, which limit patient access to therapy.
- Physicians are looking for more transparency around formulary coverage and preferred pharmacy information.
Difficulties in access and lack of information about patient insurance benefits impact physicians’ ability to prescribe preferred therapies
- The survey found that 60% of physicians do not have real-time access to patient insurance benefit information, but 71% of physicians which have access to this information verify it before writing a specialty prescription. As a result, only 39% of doctors regularly talk to patients about affordability options.
- 74% of physicians surveyed have no way of knowing if a patient has filled their prescription.
Physicians welcome technological solutions that ease the burden of patient care
When asked how helpful the following technology solutions would be in their EHR systems, the following percentages of physicians rated these solutions as “Extremely helpful” or “Very helpful”:
- A tool to file prior authorizations more easily: 84%
- A technology solution that helps patients easily access co-pay programs: 83%
- A tool that automates the specialty or hub registration process: 81%
- Information about prescription benefits to find affordable medicines for patients: 78%
- Receive a notification when a patient does not fill their prescription: 74%
For additional survey results, submit a request here.
OptimizeRx is a best-in-class health technology company enabling care-driven engagement between life science organizations, healthcare providers, and patients at critical times throughout the patient care journey. patients. Connecting more than 60% of US healthcare providers and millions of their patients through the smartest technology platform integrated into a proprietary digital point-of-care network, OptimizeRx helps patients start and stay on their medications.
For more information, follow the company on Twitter, LinkedIn or visit www.optimizerx.com.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates”, “believes”, “estimates”, “expects”, “expects”, “has intends”, “plans”, “projects”, “targets”, “designed”, “could”, “may”, “should”, “will” or other similar words and expressions are intended to identify such forward-looking statements. All statements that reflect the Company’s expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company’s growth, business plans and future performance. These forward-looking statements are based on the Company’s current expectations and assumptions regarding the Company’s business, the economy and other future conditions. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those stated, contemplated or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other risks summarized in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its subsequent quarterly reports on Form 10-Q and its other filings with the Securities and Exchange Commission.
Andy D’Silva, Senior Vice President of Corporate Finance
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