US consumers pay more than 4-10 times for prescription drugs than they would in any other country. Cases of diabetes and heart related issues are quite prevalent in the country. It is little surprise that Healthcare Providers are on the lookout for a solution devised with the objective of cutting down medication costs for them and cutting down out of pocket costs for every patient. There are a few solutions that have effectively helped various doctors and healthcare providers even save up to $4400 per patient per year! One of these solutions is a patent pending pill cutter.
Outpatient Cost for Specific CHF Medication is Getting Steep
Cost of specific CHF pills is borne by the individual patients and not their insurance cover. These costs are significant when compared with other prescription drugs. There is not enough awareness spread out by most healthcare professionals. Cost of generic prescribed Specific CHF medication can go as high as $500. And it causes a lot of economic stress for the patients and smaller medical practitioners. Inconsistent pricing practices throughout the country doesn’t help in any way, as it has a direct effect on the patients. Uninsured and Under-Insured patients have been facing the brunt of this reality, since discounts are not easy to come by. Not every medication comes under any special scheme or rebate.
Patients are always ready to pay the price required for their prescription, but if they find the cost too steep, they might not even get their prescriptions refilled. With limited or no financial resources, patients may be forced to not even comply with their doctor’s orders.
Story is Same for Specific SGLT-2 Diabetes Medications
Price of Specific SGLT-2 diabetes prescription medication can go as high as $625 per month. Americans spend as high a $1700 on 3 months of diabetes prescription drugs, even with the backing of health insurance. More than 30 million (and more) Americans have been struggling with the adverse health effects of diabetes. High costs of such medications have done nothing but add more burden on their already difficult lives. People have even lost their lives while trying to cut costs by just rationing, thinning out their supplies or taking cheap medication.
Specific SGLT-2 medications are covered by most Medicare plans, but not everyone is insured. Co-paying with the insurers can get out of hand if you don’t have a decent paying job. Without insurance, these costs can make a huge difference to one’s economic conditions. Even with the approval from insurance providers, patients might not be able to pull off the co-pay.
Dramatic rise in cost of such medication in United States is due to multiple factors. Some of them are quite obvious:
- Increase in the number of users for such medication
- Higher cost per user for analog insulin
- Greater use of the newer specific SGLT-2 diabetes medication
Between 2007-2017, direct medical costs attributable to diabetes almost doubled, from $116 Billion to $237 Billion. These costs will only go up unless there is a real solution in form of a breakthrough.
Considering Professional Pill Cutters as Saving Programs
Consumers in United States have been resorting to different solutions for tackling the problem of healthcare cost surge. Insurance Providers’ search for cost-cutting solutions can be traced as far back to 2008. Use of prescription drugs to fight chronic illnesses such as diabetes, high cholesterol, hypertension or heart-related issues burns quite a hole in patient’s pockets. Common practices can help patients cut their prescription costs by 50%, but professional pill cutters have something better to offer.
Professional pill cutters offer an effective solution to reduce costs, which can facilitate savings at multiple levels for healthcare providers. Special programs can be devised, with a fruitful potential of trimming up costs by 67% for specific SGLT-2 and CHF medication.
With pill cutters as effective means, primary healthcare providers and clinical coordinators can save up to $4400 per patient per year. Patients can resort to their prescribed specific CHF and SGLT-2 medication without making any unnecessary compromises. No more buying cheap knockoff medication just to save a few bucks. Primary Healthcare Providers can avail all benefits of some pill cutters even with zero upfront costs.
Even Pharmacists and Patients can benefit from Professional Pill Cutters
Healthcare expenditure is growing at an exponential rate, and money being spent on prescription medication is rising with it. Pharmacists in the US have a huge opportunity to make a remarkable impact on reducing such costs. With Professional Pill Cutters, pharmacists can boost their cost reduction drive and show a positive cost-benefit ratio to their patrons. Using their direct exposure and reach to the working-class patients, community pharmacists can attract a lot of business while keeping the cost low. With potential to play a significant role in managing chronic illnesses, pharmacists can use Professional Pill Cutters as a right tool in managing healthcare costs for heart and diabetes patients. Not only can the pharmacists make a huge saving on their monthly costs, but also patients would get a much-needed reprieve from rising costs. There’s news of a patent pending pill cutter that can save 67% in terms of out of pocket expenses. This level of savings can provide a lot of breathing room for patients.
Apart from having a negative effect on patients, rising costs of medication also hampers a medical practitioner’s chances to work with the best of their abilities. Indeed, even the most keen, thorough specialist who can make the most accurate diagnoses, gets their hands tied at times. When the patient is financially challenged and can’t afford the medication, there’s nothing much they can do to help them.
Pill cutters, in general, are designed to make sure that no patient finds the cost too much. The tools not only help patients afford the medication they need, but also help healthcare providers thrive. Several independent practitioners and pharmacists have witnessed the change brought upon by savings programs aided by professional pill cutters, firsthand. Affordability for essential prescription drugs is not just an idea; it’s practical now. If you are a Healthcare provider with a vision to bring down the costs for specific CHF and SGLT-2 medication, there might even be a patent pending pill cutter available to help save lives without hurdles.
The way forward with Pill Cutters
MSOs, ASOs will get involved
There will be MSOs, ASOs and Global Risk Providers who will not only look at professional pill cutters as a means to reduce their medication costs to remain competitive in the crowded Healthcare market in the United States but also they will look to start programs revolving around pill cutters, benefiting all stake holders, working closely with Primary Healthcare Providers at the beginning, then working their way up to bigger clinics. Some of these programs, if designed with professional pill cutters at the center, can save up $4400 per patient per year. How much can a clinic serving thousands of patients save? You do the math!
Patents will increase with respect to Pill Cutters
There will be a marked increase in patents when it comes to professional pill cutters. Pill cutters will stop being one size fits all. There will be patented pill cutters for specific medications – in fact, there is news of a certain firm developing a patented pill cutter for specific SGLT-2 Medications and specific CHF Medications, which is hot in the market right now.
More such innovations will follow because with the 2014 ruling to maintain a mandatory Medical Loss Ratio of 85 percent, it is only a matter of time that primary health care providers choose something simple, something that can be replicable year after year. And there is nothing that cuts out medication costs cleanly (and quite literally) like the professional pill cutter.