The Medication Cost Conversation – What’s the Hold-Up?

Blog Posts  |  05 October 2020

At the upcoming Allscripts Client Experience 2020 virtual conference, Dr. Michelle Forbes of MD Pediatric Associates in suburban Dallas, TX, will join other clinical peers for a conversation on how to effectively approach medication cost conversations with patients in the era of prescription price transparency.

In this session, the presenters will discuss how new price transparency tools can help your organization reduce provider and administrative burdens, enhance the patient experience, improve medication adherence, and help patients save money on medication costs.

The presenters will also share lessons learned from providers who are using price transparency tools, and the results demonstrating practice impact and patient savings. Panelists will also discuss models they’ve implemented to routinely incorporate the cost conversation into practice workflows.

In a 2019 Veradigm survey of prescribers, some physician respondents indicated that they did not view the medication cost conversation as their responsibility. Alternatively, others said that while they understood that patients valued the conversation, they did not feel comfortable or equipped to do so.1

This tendency to shy away from a potentially uncomfortable conversation is easy to understand. However, given that it requires little to no additional effort for prescribers to access patient-specific prescription medication pricing within their electronic health record workflow, failing to have that conversation with patients represents a missed opportunity to improve standards of care.

Like any initially uncomfortable topic, discussing financial matters relevant to patient care quickly becomes easier with experience. Those providers who remain unwilling to engage on the subject may be placing themselves at a competitive disadvantage.

With price transparency solutions like Veradigm RxTruePrice™ available for more than two years now, many physicians have found effective ways to start the conversation with their patients. Physicians who use RxTruePrice have reported improvements in medication adherence, patient satisfaction and staff time savings as a result.1

For more information on how to access Veradigm RxTruePrice for your practice, and gain access to valuable educational events like Allscripts Client Experience, click here.


References:

  1. Results of Veradigm ePrescribe user survey conducted September 2019. Data on File
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Tags
Prescription Price Transparency   Providers  

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