To start, Joel reviewed some of the legislation that that he and his team are keeping their eyes on. In particular, he discussed:
- The bills that have passed and will impact healthcare organizations in the near future – specifically those bills requiring Real-Time Benefit Tool activation in the coming year
- How the 21st Century Cures Act and President Trump’s Price Transparency Executive Order relate to – and may directly impact – prescription price transparency
- Legislation that is still working its way through Congress, including many bills that will require additional prescription price transparency throughout a patient’s care journey
Joel then shared his perspective on how the presidential election, as well as the house and senate races, could impact price transparency progress as we move into 2021.
As the conversation progressed, Kyle spoke about some of the non-political factors driving the need for prescription price transparency. He highlighted the patient, provider, and health system perspective, noting that all stakeholders would benefit from added price transparency through reduced administrative work, improved experience, and better clinical outcomes.
While there are many challenges associated with bringing price transparency to the point-of-care, Kyle finished the call by outlining how Real-Time Benefit Tools (aka Real-Time Prescription Benefit) are available today and allow providers to have more informed conversations with their patients about coverage and the cost of medications ordered. He discussed how ‘not all price transparency is created equal’ though, since some vendors deliver inaccurate pricing information to the EHR, while RxRevu has built a best-in-class solution to bring the most accurate information to providers in real-time.
To watch a replay of the webinar, visit Fierce Healthcare’s archive. If you are interested in learning more or speaking with a member of the RxRevu team about our prescription price transparency solutions, please reach out today.