Specialty medications offer ways to manage rare and sometimes not so rare conditions. These medications are expensive (approximately $4,000 on average) and even though less than 1% of members use specialty medications, specialty represents 30% of total spend.
Manufacturers understand that most consumers cannot afford the copay associated with these expensive medications. They overcome this challenge by offering copay assistance so that members out-of-pocket costs are reduced to almost nothing. Prior to Copay Trakker, this savings was not captured as part of the claim. Members would reach their out-of-pocket maximum quicker, resulting in the plan picking up the entire cost of the medication sooner.
Based on our book of business over the past year, copay assistance is covering 97% of the member copay. MedTrakRx has been applying this as savings to the plan, saving thousands of dollars annually. Copay Trakker is just one program within MedTrakRx's Best In Class SpecialtyRx program which is the most comprehensive program in market today to manage specialty costs. To find out more, contact MedTrakRx.
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