Prescryptive Health's Patented Prescription Management Platform Now Available for PBMs and Employers

In a groundbreaking move to revolutionise the US pharmaceutical market, Prescryptive Health, a leading healthcare technology company, has unveiled its cutting-edge digital prescription management platform, myPrescryptive. The platform, available as a service, aims to empower pharmacy benefit managers (PBMs) and employers by offering price transparency to their benefit plan members right at the point of care. Leveraging patented blockchain-based technology, myPrescryptive provides healthcare consumers with immediate access to their prescriptions on their mobile phones, enabling them to compare prices and payment options for potential cost savings. The platform displays the price with insurance, the discounted cash price without insurance (known as SmartPRICE), and more affordable medication alternatives when available.

Chris Blackley, Co-founder, and CEO of Prescryptive, emphasised the need for simplicity and transparency in healthcare, just as individuals experience in other aspects of their lives. "Healthcare consumers are demanding the same simplicity in healthcare that they have in every other facet of their life – a simple, transparent experience on their mobile phone," said Chris Blackley. "When my doctor asks me where I want my prescription sent, I have no idea how much it will cost. Now I tell my doctor to send it to Prescryptive, which allows me to immediately see all the options on my phone. Prescryptive is driving patient behaviour change that will transform the value of the prescription experience."

It is estimated that approximately 81 million prescriptions are abandoned at pharmacy counters each year due to cost-related issues. With myPrescryptive, patients can now request their prescribers to send their prescriptions to the platform, granting them access to affordable options at over 60,000 local pharmacies within the Prescryptive network. The user-friendly platform requires no app download; patients receive a text message with their prescription details and can swiftly compare prices and payment options, identifying a convenient pharmacy within seconds. Moreover, to break language barriers in healthcare access, the platform has been designed to support both English and Spanish, with more languages to be added in the future.

Furthermore, myPrescryptive ensures that patients are informed about effective, safe, and less expensive alternative medications when available. A recent survey revealed that 73% of respondents would be more inclined to discuss lower-cost medication alternatives with their doctors if they were aware of the prices in advance. By proactively delivering this crucial information to patients at the point of prescribing, myPrescryptive facilitates discussions between patients and their prescribers before leaving the office, positively impacting first-fill and medication adherence rates. On average, patients managing their prescriptions with myPrescryptive achieve yearly savings of $2,589 per alternative. In turn, plans save an average of $2,564 in first-year total savings for each registered myPrescryptive user who opts for a lower-cost alternative.

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