ADHEREHEALTH AND LEVRX TECHNOLOGY ANNOUNCE STRATEGIC PARTNERSHIP TO IMPROVE MEDICATION OPTIMIZATION AND REDUCE PHARMACY COSTS
Integrated offering delivers immediate and lasting pharmacy savings for patients, health plans, and employers
NASHVILLE, Tenn., Jan. 26, 2022 /PRNewswire/ -- AdhereHealth, a healthcare technology leader in medication adherence insights and health outcomes, today announced a new integration partnership with Levrx Technology Inc, a digital health technology company that drives prescription efficiencies and maximizes savings. Their combined solution enables health plans and self-insured employers to realize immediate pharmacy cost savings and near-term medical cost reductions by integrating Levrx's plan-specific and real-time prescription insights into the Adhere Platform's Medication Optimization solution.
One of the biggest challenges in U.S. healthcare is the increasing cost of pharmacy. According to the Centers for Medicare and Medicaid Services (CMS), prescription spend for private insurance and state-run programs was $348.4 billion in 2020 and is projected to reach $560.3 billion by 2028. As total costs continue to rise, member cost-share also increases along with concern for medication non-adherence. Statistics show that at least 12.8 million adults delayed or did not get prescription drugs in 2018-19 due to cost.
"More than 50 percent of prescriptions are abandoned at the pharmacy when exceeding $125," said Jason Z. Rose, CEO of AdhereHealth. "By partnering with Levrx, our Medication Optimization solution now includes formulary cost savings analytics and technologies, which address lower-cost medication options for the patient, health plan, and employer. Care teams can use these insights to further drive medication adherence and deliver immediate and lasting cost savings."
Anchored within the Adhere Platform™, the Medication Optimization solution creates insights based on medical claims, pharmacy claims, and direct patient and provider engagement to automatically identify patients at the highest risk for non-adherence. The system generates targeted analytics, which are updated daily and integrated into the various clinical workflows to prioritize high-risk patients and guide personalized outreach. Insights from predictive analytics enable care teams with actional insights as they engage high-risk patients to close critical medication optimization gaps.
With the addition of Levrx capabilities, AdhereHealth can now enhance its impact by adding prescription formulary opportunity analytics into its data-driven medication optimization workflow. The Adhere Platform uses these analytics to alert clinicians when lower-cost alternatives are available. The provider is empowered to proactively coordinate with the patient and provider to prescribe the right medication, minimize non-adherence, and improve health outcomes. Conversely, the Adhere Platform's analytics are integrated into Levrx Practice App™ technology workflows for providers.
Unlike other formulary optimization solutions, Levrx delivers plan-specific and real-time prescription insights. This is far superior to general or national information other solutions utilize because they account for the patient's plan-specific formulary, accumulator, and real-time pricing. Levrx also engages physician groups and members directly, giving healthcare consumers the information needed at the point of care to keep costs low, avoid prescription rewrites, and prevent non-adherence based on cost.
"Our analyses consistently identify 10-20% total annual prescription savings opportunities for clients. By integrating Levrx, AdhereHealth's platform now has the power to lower prescription costs by combining real-time medication pricing information with other actionable insights," said Vikram Agrawal, President & CEO at Levrx. "What's been the cherry on top is the increased trust and satisfaction that members have for their insurance."
About Levrx Technology: Levrx is an innovative software company that uses technology to transform the healthcare experience, one prescription at a time. Levrx aligns providers, patients, pharmacies, and payers on one platform to simplify prescribing and ensure affordability. Learn more at www.levrx.com.
About AdhereHealth: AdhereHealth delivers purpose-built, innovative technology solutions to improve quality of care, medication adherence, and cost outcomes – all with an emphasis on overcoming social determinants of health (SDOH) and improving patient experience. AdhereRx, an AdhereHealth digital pharmacy, provides high-risk, underserved patients with personalized pharmacy services that drive medication compliance and reduce unnecessary utilization costs. This unique combination of predictive analytics, intelligent clinical workflow software, and proactive telepharmacy outreach performed by a nationwide team of licensed clinicians addresses an estimated half a trillion dollars of unnecessary annual medical costs attributed to medication adherence issues. Today, the Adhere™ Platform touches nearly 30 million patients across dozens of health plans, self-insured employers, and other risk-bearing entities. Learn more at www.adherehealth.com.
Media Contacts:
Lauren Sgambati
Levrx Technology
(518) 629-1440
[email protected]
Andrea LePain
eMedia Junction
On Behalf of AdhereHealth
617-894-1153
[email protected]
SOURCE AdhereHealth
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