A specialty and home delivery pharmacy is dedicating human and technological resources to provide information on financial assistance programs available to eligible patients.
AllianceRx Walgreens Prime, a strategic alliance between Walgreens and pharmacy benefit manager Prime Therapeutics, said has connected eligible patients to more than $600 million in financial assistance in the past two years. The amount of assistance to which AllianceRx Walgreens Prime connected patients in 2020 increased by nearly 14% over 2019, which the organization attributes to rising drug costs and increased out-of-pocket costs for patients.
Recently, AllianceRx Walgreens Prime launched a new financial navigation technology platform, TailorMed. This technology proactively identifies patients with financial risk and automatically connects them with personalized financial assistance resources, which can include manufacturer assistance programs and national foundations, as well as local charitable foundations and government programs.
"While therapies for patients with chronic conditions have evolved greatly, they have done so at a price," said Lisa Mymo, VP, pharmacy and financial services at AllianceRx Walgreens Prime. "Because of the complex and often rare conditions these high-touch drugs treat, they can range in cost from thousands of dollars a month to hundreds of thousands of dollars per year. We want to eliminate financial barriers to access and connect our patients with resources to help make these treatments affordable."
Formed in 2017 through a collaboration between Walgreens, one of the nation's largest chain drug stores, and Prime Therapeutics, a leading pharmacy benefit manager, AllianceRx Walgreens Prime is headquartered in Orlando, Fla., and its pharmacies are accredited by several national pharmacy accreditation services.