Prescryptive Health’s Patented Prescription Management Platform Now Available for PBMs and Employers
Providing real-time price transparency on a mobile phone at the point of care, myPrescryptive delivers plan and member savings through digital prescription technology.
Redmond, WA – July 20, 2023 – Prescryptive Health, a healthcare technology company on a mission to rewrite the script for the U.S. pharmaceutical market, today announced the industry’s only digital prescription management platform, myPrescryptive, is available as a service to help pharmacy benefit managers (PBMs) and employers provide price transparency to their benefit plan members at the point of care. The patented blockchain-based mobile experience allows healthcare consumers to immediately receive their prescription on their mobile phone and then compare prices and payment options to save. myPrescryptive shows the price with insurance, the discounted cash price without insurance (called the SmartPRICE™), and lower-priced medication alternatives when available.
“Healthcare consumers are demanding the same simplicity in healthcare that they have in every other facet of their life – a simple, transparent experience on their mobile phone,” said Chris Blackley, Prescryptive co-founder and CEO. “When my doctor asks me where I want my prescription sent, I have no idea how much it will cost. Now I tell my doctor to send it to Prescryptive, which allows me to immediately see all the options on my phone. Prescryptive is driving patient behavior change that will transform the value of the prescription experience.”
It’s estimated 81 million prescriptions are abandoned at the pharmacy counter every year. With myPrescryptive, patients simply need to ask their prescriber to “send my prescription to Prescryptive” to access their prescriptions and find affordable options at more than 60,000 local pharmacies in the Prescryptive network. There’s no app to download; after receiving a text message, patients compare prices and payment options to find a convenient pharmacy in seconds. The company recently announced its multi-lingual platform supports English and Spanish to reduce language barriers to healthcare access, with more to follow.
The platform also alerts patients when an effective, safe, and less expensive alternate medication is available. In a recent survey, 73% of respondents said they would be more likely to talk to their doctor about lower-cost medication alternatives if they knew the price in advance. By proactively delivering this information to patients at the point of prescribing, patients discuss their options with their prescriber before leaving the office, in turn positively impacting first fill and medication adherence rates. Patients managing their prescriptions using myPrescryptive realize average annual savings of $2,589 per alternative. Plans save an average of $2,564 in first-year total savings for each myPrescryptive registered user who switches to a lower-cost alternative.*
Designed to bring much-needed transparency, choice, and control to the prescription experience, myPrescryptive plugs into existing pharmacy benefit management (PBM) plans to help PBMs and employers reduce plan and member pharmacy benefit spend. Learn more about myPrescryptive, including a video on how myPrescryptive works.
*Average savings calculated from plans using Prescryptive formulary and plan designs, including rebates.
About Prescryptive Health
Prescryptive Health is a healthcare technology company rewriting the script for the US pharmaceutical market. We are building a more equitable and transparent ecosystem that connects patients, prescribers, pharmacies, payers, and pharma manufacturers, empowering consumers to take ownership of their prescriptions. Our solutions optimize health outcomes while enabling better patient engagement through user-friendly technology. Find out more at Prescryptive.com or on LinkedIn. #letsrewritethescript