PSG Teams Up with Covered Entities & Their Pharmacy Partners to Overcome Financial Barriers to Medication Access
Jennifer Kirschbaum, Director Strategic Clients March 27, 2019
A patient—we’ll call her Gloria—waits eagerly in her local emergency room to be discharged. Thanks to successful breathing treatments for yet another severe asthma attack, she gets to go home. It’s a much better outcome than her many other trips to the ER when she’d been hospitalized for her asthma.
A nurse whom Gloria has never met comes in and starts a casual conversation. The nurse would like to understand why all her colleagues know this patient by name. Gloria says she visits the ER every time she has a severe asthma attack, which is often. The nurse asks Gloria, “Do you take your asthma medications as prescribed?” Gloria’s eyes well with tears as she tells the new nurse the same painful answer she always gives—Gloria would take her medications, but she can’t afford them.
The Patient’s Financial Burden Gloria is just one of the millions of Americans who are either underinsured or uninsured. In Gloria’s case, she has medical insurance but is nonadherent because she cannot afford her prescription copays. Like so many patients I have worked with over the years, financial barriers limit their access to prescription medications to treat their chronic illnesses. It’s a vicious cycle of emergency room visits and hospitalizations, often times preventable—if only the patients had the financial means to access their basic maintenance meds.
The Healthcare System’s Financial Burden This vicious cycle is not only challenging for patients but also for the health systems where they seek recurring treatment.
Medication nonadherence in the U.S. costs $100 billion‒$300 billion per year.
33%‒69% of hospital admissions are due to medication nonadherence.
The 340B Drug Pricing Program was created in part to increase medication access for eligible patients. With all the complexity surrounding the 340B program, however, it’s essential that patients have a clear and direct path toward the program’s benefits.
Overcoming Financial Barriers to Medication with PSG Community Link, PSG’s 340B patient care card program, provides that clear path. Through a patient-focused partnership, Community Link gives 340B covered entities the ability to provide their eligible at-risk patient populations with direct access to 340B-discounted drugs—right in their own communities.
Community Link is flexible, allowing you to:
Build your own network of contracted and participating pharmacies.
Design formularies to ensure access for your most vulnerable patient populations.
Define various discount levels and copay assistance based on your organization’s financial assistance criteria.
PSG works with a PBM to administer Community Link on behalf of its covered entity partners. Once the program has been implemented, the covered entity simply enrolls eligible patients during a visit. The patient fills their prescription at a participating contract pharmacy, receiving 340B pricing right at the point-of-sale, where the program either covers or reduces the patient’s copay.
More than ever, covered entities need to take charge of their 340B program. PSG’s Community Link patient care card program is a simple way to demonstrate compliance with 100% transparency—while helping patients overcome financial barriers to medication access.
PSG Partner Covered Entity Significantly Reduces Patient Out-Of-Pocket Spend A covered entity, partnered with PSG’s Community Link program, utilized $1.4M of their annual 340B savings to reduce or eliminate their eligible patients’ medication costs. It’s time to give patients access to the medications they need, so they are empowered to manage their chronic illnesses and enjoy a better quality of life. Contact PSG today for a free consultation and review of your 340B program.
Jennifer Kirschbaum is a pharmaceutical industry professional with more than 22 years of specialty medication and pharmacy background with a focus on integrated care delivery models for improved medication access, adherence and clinical outcomes. Jennifer has six years of Ryan White HIV/ AIDS 340B program experience and three years of Chronic Kidney Disease specialty pharmacy care expertise.
PSG is the leading pharmacy intelligence and technology company solving one of healthcare’s biggest challenges – rising drug costs. We provide innovative drug management solutions to over 300 clients who rely on our team of trusted advisors to improve their financial performance.