Pricing transparency and instant savings now available to independent physicians and their patients
IRVINE, Calif., October 19, 2016 – Kareo, the leading provider of clinical and business management software for independent medical practices, today launched Kareo Rx Saver, a new solution that seamlessly delivers prescription cost savings to patients of physicians using Kareo Clinical, the company’s cloud-based electronic health record (EHR). Prescription drug prices often vary significantly across pharmacies, making it difficult for a patient to select the least costly option. To address this, Kareo Clinical presents real-time cost comparisons between local pharmacies during e-prescribing while also delivering money-saving coupons, allowing physicians to help patients select the least costly option. Both the cost comparisons and coupons are enabled by GoodRx, America’s #1 source for prescription prices and savings. For the first time, independent physicians can directly and instantly help lower the cost of care for their patients when prescribing medication.
According to Rob Pickell, Chief Strategy Officer of Kareo, “Studies show that one-quarter of new prescriptions are never filled with cost being one of the primary reasons. This clearly impacts patient health and increasingly means that physicians can’t achieve outcome-based goals under new reimbursement models. With Kareo Rx Saver, physicians using Kareo can help their patients find the most cost-effective options at their local pharmacies, leading to improved adherence rates and targeted outcomes. We are excited to work with GoodRx to deliver this powerful solution.”
“I don’t think many patients shop around to find the best prices for their medications, either because they don’t think they can or they feel like its too much of a burden,” said Mark Miller, MD, a primary care provider and owner of Truhealth Family Care. “Having the new Kareo Rx Saver as a feature in my EHR allows me to save them time and hassle and alleviate these feelings. It’s not often that I get to help save my patients money, and this new feature in Kareo Clinical is going to let me do that, which is a great opportunity. It’s really unlike anything I’ve seen before in an EHR, and I think my patients will really appreciate it.”
Physicians using Kareo will be able to offer patients the following benefits:
- Collection and comparison of prices for every FDA-approved prescription drug at more than 70,000 U.S. pharmacies
- Delivery of money-saving coupons via instant text message or email, by printing paper coupons during an office visit, and with GoodRx discount cards available at practices throughout the U.S.
- Access to the GoodRx app for iOS and Android to check local prescription drug prices anytime and anywhere
- Further functionality enhancements will provide physicians and patients expected co-pay costs, enabling even better decision making about where to fill prescriptions
Doug Hirsch, co-founder and co-CEO of GoodRx, said, “The popularity of GoodRx grows every day as patients take healthcare cost management into their own hands. The integration with Kareo demonstrates how a healthcare professional can work more closely with patients to reduce costs of prescription drugs in a simple, accessible, and highly effective way. We’re excited to begin this integration with Kareo and look forward to seeing the positive impact within their customer base.”
Kareo is the only cloud-based complete medical technology platform purpose-built to meet the unique needs of independent practices. Today Kareo helps over 75,000 providers in all 50 states run more efficient and profitable practices, while delivering outstanding patient care. The Kareo technology platform is the first to help independent practices find more patients, manage their care with a fully certified and easy-to-use EHR, and get paid quickly all in one complete and integrated package. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 5000 and Black Book's #1 Integrated EHR, Practice Management and Medical Billing vendor. Kareo's growth further demonstrates the expansion and vitality of the independent practice market in the U.S. With offices across the country, Kareo’s mission is to help independent practices succeed in an ever-changing healthcare market. More information can be found at www.kareo.com.