CATEGORY
Patient Affordability
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Patient Affordability Market Monitoring Dashboard
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Patient Affordability Industry Benchmarks
Savings Achieved
(in %)
The average annual savings achieved in Patient Affordability category is 5.40%
Payment Terms
(in days)
The industry average payment terms in Patient Affordability category for the current quarter is 73.4 days
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Category Strategy and Flexibility
Engagement Model
Supply Assurance
Sourcing Process
Supplier Type
Pricing Model
Contract Length
SLAs/KPIs
Lead Time
Supplier Diversity
Targeted Savings
Risk Mitigation
Financial Risk
Sanctions
AMEs
Geopolitical Risk
Cost Optimization
Price per Unit Competitiveness
Specification Leanness
Minimum Order Quality
Payment Terms
Inventory Control
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Patient Affordability Suppliers

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Patient Affordability market report transcript
Global Market Outlook on Patient Affordability
Pharmaceutical companies are increasing their reliance on patient access, affordability, and adherence programs, as they are a cost-efficient way of fulfilling marketing needs and providing marketing managers with insights into physician and patient behavior.
Drivers
• Stringent and changing regulations
• Increasing government support for improving healthcare infrastructure
• The need for reducing healthcare costs
• Increasing volume of claims denials
• High number of private healthcare payers and well-established government payers
• The presence of a large number of healthcare IT companies
Constraints
• Slower adoption rate
• Lack of awareness about the available access opportunities
• Lack of denials management
Patient Affordability Latest Market Trends
Changing regulations in the healthcare sector is advancing the need of electronic data exchange and expanded treatment medical access. The legislation is providing amendments to lower the drug prices and simultaneously, paving the way for the bio-similars and generic drugs.
Five-Tier Plan
- Companies have designed a new pharmacy benefits plan, five-tier plan, where a patient can pay five different amounts of payments, depending upon the drug he/she takes
- Five-Tier Plan: T-1: Low cost prescription drugs, T-2: Medium cost prescription drugs, T-3: High cost prescription drugs, T-4: High cost branded drugs, T-5: High cost branded and specialty drugs. Central US is pushing the payers and patients to use five tier plans
Insurance Landscape Changes
- Post the implementation of Affordable Care Act, the number of uninsured person has come down and is expected to go down further
- Understanding of the reimbursement landscape can help to determine what type of support patients will need, which will reduce out-of-pocket healthcare expenses
Co-pay Accumulators
- Copay accumulators is a novel policy designed by PBMs and insurers to avoid using manufacturer co-pay cards, which will help in excluding copayment liabilities, covered by copay assistance programs. This will enable patients to have access to affordable prescriptions and care
- People with employee sponsored plans and high-deductible health plans are most likely to be in co-pay accumulators plan
Technological Advances
- Interactive Voice Response (IVR), online patient communities are being opted by pharma in order to provide reminders and updates
- This will indirectly improve patient adherence and provide with a wide variety of enrollment opportunities for a trial