Improving Medication Adherence with Data Analytics
According to the National Health Council, more than 40% of Americans suffer from a chronic illness. Recent studies show that 50 to 60 percent of those patients miss doses, take the medication incorrectly, or drop off the treatment plan within the first year.
With an estimated 125,000 lives lost and $290 billion in medical expenditures, using prescribed medication incorrectly—or the failure to adhere to prescribed medication— is one of the biggest threats to patients and the healthcare industry. But data analytics could be the saving grace.
Ineffective Medication Use is Burdening the Healthcare System
We know that lack of medication adherence can be dangerous for patient health. Missing doses, taking the wrong dose, or failure to take the medication means the medicine won’t be doing its intended job, which in turn will hurt the patient. But it also burdens the healthcare system contributing to massive financial loss.
According to the CDC, health care costs associated with non-adherence has grown to anywhere between $100 million and $300 million annually. It’s estimated that 1 in 5 prescriptions written is never filled. For the 4 out of 5 prescriptions that do get filled, nearly 50% of patients take the drug with some form of non-adherence. This can lead to the abandonment of their medication altogether meaning the process starts over or, at worst, the loss of life.
Improving Patient Medication Adherence
Improving medication adherence relies on addressing the factors that influence this behavior, essentially looking at the source to discover why non-adherence is happening. A recent study conducted by Mckinsey and Company found that there are four categories that influence medication non-adherence; drug-related characteristics, the condition itself, the health-care system, and sociodemographic and patient-related issues.
One strategy that can address the majority of these causes is the implementation of data analysis.
Data Analytics Plays a Key Role
The role of data analytics in the healthcare industry has grown substantially with the development of AI. For example; with access to data analytics benefits managers can:
Quickly review reports and take action rather than retrospectively react to trends that have already impacted the industry and patients
Quickly complete once lengthy report analysis
Accurately identify cost-savings and improved health opportunities
With the capabilities that data analytics provides, benefits managers and providers can directly address problems associated with non-adherence in the following ways:
Early intervention- Nearly real-time data analytics, like those provided by Xevant, can help to identify problem areas that allow customers to preemptively find solutions without waiting for insight from the PBM that will likely come retrospectively. Additionally, one of the best predictors of medical claims is pharmacy as medications leave obvious clues about the treatment and overall health of patients, along with future care and cost.
Supplementing conversations- The use of data analysis can provide healthcare providers with insight on overall patient habits with specific medication. This allows them to have thoughtful conversations with patients about the importance of adhering to medication.
Identify alternative drugs- High copays and side effects negatively affect patient adherence. With access to healthcare data analytics, alternative medication options can easily be identified.
Predict drug cost fluctuations- Drug pricing is often perceived as mysterious as it often goes up and down erratically. However, by applying appropriate data models we can predict the increases in cost and the resulting reduction in utilization. With this information, health care providers can intervene with solutions before non-adherence begins.
Access Nearly Real-Time Analytics with Xevant
Increasing medication adherence is vital to decreasing the financial strain on the healthcare industry and improving patient outcomes. Near real-time data analytics provided by Xevant gives the ability to take proactive steps throughout the patient’s journey with the goal of achieving better medication adherence.
Xevant’s automated solution allows benefits managers to analyze data and assimilate it into actionable strategies quickly and more effectively. With daily data insights, Xevant can help to identify opportunities for both cost savings and patient care. Additionally, the platform flags problems or market changes as they happen, so alterations to patient care can be made without delay.
With instantaneous information from Xevant, benefits managers can make immediate changes for the overall benefit of both the healthcare industry and patients.