The Benefits of Pharmalto for Health Insurance

Pharmalto-for-Insurance-Companies

Medical treatment costs continue to rise. $337B is wasted annually because of noncompliance and under treatment. Patient engagement in their health is critical to better outcomes and cost containment.

Drug diversion and medication selection account for an additional $72.5 and $55B of annual waste.  Pharmalto’s patent-pending patient engagement platform targets these causes of waste. How?

  • Through a robust mobile application with a wide range of options and features that motivates members to better engage in their health and welfare using behavioral modification techniques.
  • A centralized pharmaceutical database screens for ineffective medications and those with side effects (industry leading feature to decrease waste).
  • The member’s self-reported data connects directly with their own health care provider. Thus, preemptive intervention can be performed which avoids complications and further decreases costs.
  • A First Responder’s assessment and treatment of an injured member is facilitated by the review of:
    – Current medications
    – Medical history
    – Allergies
    – Compliance & Recent self-reported health measurements (Blood Pressure, Glucose etc.).

The effective implementation of Pharmalto’s suite of products should significantly reduce health care spending.

This decrease in health spend allows for more competitive pricing and an expansion of services. This in turn increases member numbers, loyalty and revenue creating a more valuable company. As members become more engaged in their health and experience a happier and healthier lifestyle, they will increasingly value the Pharmalto tools and the organization that provides this solution. Thus customer retention is reinforced, a crucial element in the success of an organization.

Companies may request custom analytics to review treatment effectiveness, compare outcomes within their membership and with groups outside of their organization. These analytics can reveal pharmaceutical issues, trends and utilization as well as assess the effectiveness of medical care. The aggregate health of an organization’s membership can be improved through health screening and evaluating the self-reported member data to improve preventive policies and recommend intervention strategies.

The Pharmalto Mobile Health Engagement™ solution provides the opportunity for health insurers to evolve into organizations that help ensure the health and welfare of their membership.  This attracts new members and reinforces client retention which improve revenue and growth.