Prescryptive Health (Prescryptive) recently announced a partnership with Eli Lilly and Company on a new and first-to-market subscription model to help lower costs for people who pay for their Lilly insulin through their employer-sponsored benefits.
Through a flat, per-member, per-month subscription fee, employers can offer insulin to their employees with predictable, affordable, and transparent costs. This unique value-based program is designed to create price stability related to insulin utilization, with Lilly refunding a portion of the subscription fee if an employer’s total medical spend increases over time for their employees who live with diabetes.
Prescryptive Health is a healthcare technology company delivering solutions that empower consumers. Prescryptive’s secure, mobile-first products connect consumers, pharmacists, and employers, ultimately providing people with the information they need to make informed decisions and take control of their health.
This new program can help address controversial rebates in the pharmacy benefit manager (PBM) pricing model and will be available through Prescryptive free of any margin or price mark-up, further reducing the cost to employers, health plans, and ultimately healthcare consumers.
Additionally, the program offers opportunities for employers to supply insulin at lower costs, or at no cost, to their employees. Added benefits for employers participating in the program include the Prescryptive mobile experience that supports patient engagement and adherence for diabetes care.
Earlier in 2022, Prescryptive announced the National Community Pharmacists Association (NCPA) recommended to its members Prescryptive’s state-of-the-art myRx AI Pricing system, which can make independent pharmacies immediately more competitive by giving them access to cash pricing optimization driven by artificial intelligence.
Also, Transcarent and Prescryptive announced a partnership to provide the industry’s most immersive, intelligent, and individualized pharmacy care experience. This new-to-market solution will address the confusing, complex, and costly process that exists today for Members by offering easy-to-understand price transparency tools, 24/7 clinical support, and guidance while addressing virtually all of their other health and care needs.
Takeaway: Prescryptive is challenging the traditional drug pricing model and working to reduce the burden on employers who sponsor pharmacy benefits