Systems and Methods for Shifting Prescription Market Share by Presenting Pricing Differentials for Therapeutic Alternatives

Abstract

While a pharmacist may know of other medications approved by the FDA for the same medical condition, the pharmacist typically does not know what the therapeutically equivalent dose of those products is when compared to the originally prescribed item In addition to this lack of equivalent dosage information, the pharmacist also is unable to determine if any of those other FDA approved items will save the consumer any money. Accordingly, embodiments of the invention can provide pharmacists and / or consumers with equivalent dosage information as well as pricing information for the equivalent dosage. Accordingly, based at least in part on this information, consumers may have an incentive to and may decide to purchase to another prescription drug, thereby shifting market share to a preferred prescription drug or pharmaceutical manufacturer or provider.

Description

RELATED APPLICATION [0001] This application claims priority to U.S. provisional application Ser. No. 60 / 748,432, entitled “Systems and Methods for Shifting Prescription Market Share By Presenting Pricing Differentials for Therapeutic Alternatives,” filed on Dec. 8, 2005.FIELD OF THE INVENTION [0002] Aspects of the invention relate generally to prescriptions, and more particularly, to systems and methods for driving market share for medications or pharmaceutical manufacturers or providers by presenting pricing differentials for therapeutic alternatives. BACKGROUND OF THE INVENTION [0003] The cost for prescription drugs and other medicines can be a recurring and increasing expense for many consumers. Pharmaceutical companies and generic drug manufacturers or providers can offer consumers competing drug and medicine products at different, sometimes substantially different, prices. In many instances, consumers may be unaware of the availability of and relative prices between the variety...

AI Technical Summary

Benefits of technology

[0013] In accordance with another embodiment of the invention, a Therapeutic Alternative Program may be implemented that provides mechanisms for driving current 100% co-pay and cash consumer purchase decisions toward a preferred manufacturer's or provider's products, thereby creating a market shift for the preferred manufacturer or provider. In this example embodiment, a consumer may present a prescription for a medication to a pharmacy. The pharmacy receiving such a request may transmit an electronic claim, via modem, lease line or other electronic data transmission medium over a network, to a switch provider such as NDCHealth's Intelligent Network. The switch provider may interconnect one or more pharmacies with one or more pharmacy benefit managers (PBMs) using one or more networks, including private networks or the Internet. The electronic claim from the pharmacy may identify the medication, and in some embodiments, the pharmacy's current pricing information.

[0017] In accordance with another example embodiment of the invention, the Therapeutic Alternative Program's functionality may also be implemented in the funded transaction market by providing similar messaging to the pharmacy informing them of therapeutically-equivalent medications on the payer's preferred drug list and a lower co-pay cost associated with the use of those items as compared to the ones that are absent from that list. One of ordinary skill in the art will readily recognize that many other variations of the Therapeutic Alternative Program are possible.

Problems solved by technology

The cost for prescription drugs and other medicines can be a recurring and increasing expense for many consumers.

In many instances, consumers may be unaware of the availability of and relative prices between the variety of drug and medicine product choices, including alternative drugs such as generic drugs.

In many instances, a consumer may be prescribed a brand name drug by his or her physician, which may be relatively more expensive than other competing, alternative drugs, such as a generic drug with therapeutically equivalent effects.

Obtaining alternative drug product information from a physician and / or pharmacist or by conducting independent research can be difficult and time consuming.

A common drawback to asking a physician whether alternative drug products exist is that the physician may not know the relative costs of the alternative drug products compared to a prescribed drug.

A drawback to asking a physician and / or pharmacist whether alternative drug products exist is that the consumer must be sophisticated enough to ask his or her physician and / or pharmacist whether alternative drug products exist.

A drawback to conducting independent research for such drug products is that the research may be relatively technical, and there is a possibility that a consumer could misidentify a drug product, or misidentify a dosage of a particular alternative drug that is not a relatively safe alternative to the initially prescribed drug.

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