The statins category sees 674 conversions (more than 13 percent) for a savings of $214 per conversion and $144,333 total.
Together, these three interventions result in annual savings to the health plan of $587,754, which, measured across the entire member population, comes to $2.35 per member per year, or $0.20 per member per month.
Obviously, it also results in healthier members who are far more likely to be satisfied with their health plans (and provider network) – and who will continue paying premiums. Members whose non-adherence results in death, of course, pay nothing. Add in the expected financial returns as result of increased STAR rating scores and the value to the health plan is even greater.
Preventing the preventable
Medication non-adherence is a huge issue in the U.S., exacting a tremendous cost in both money and lives. But it is completely preventable – if payers are willing to make it the priority it should be.
By using analytics to identify non-adherent members, then hyper-targeting them with communications that address their specific conditions and needs, health payers can help members understand the value of taking their medications as prescribed, and convert the reluctant into willing, enthusiastic participants in their own care.
About the author: Robert Oscar is the CEO of RxEOBBack to HCB News
