Drug companies spend $6 billion per year on direct-to-consumer ads with the goal of getting patients to ask their doctors to prescribe drugs that, in many instances, cost substantially more but are less effective than their current medications. And with no comparative effectiveness information readily available to them, consumers often take it on faith that “newer and more expensive” must mean “better.”
From Medical Xpress: “A new study led by researchers at the Johns Hopkins Bloomberg School of Public Health found that the share of promotional spending allocated to consumer advertising was on average 14.3 percentage points higher for drugs with low added benefit compared to drugs with high added benefit. […] The U.S. does not currently assess prescription drugs for comparative effectiveness.” [Emphasis added]
“Things of value rarely need to be advertised,” says James Stahl, MD, Chief Medical Officer of TruDataRx, MedBen Rx’s comparative effectiveness partner. “In the U.S., if you see a drug advertisement that most likely means it’s covered on drug formularies. According to this research, just being on the formulary doesn’t by itself mean that the drug adds value.”
MedBen Rx offers a comparative effectiveness solution that lets your employee know how well alternative medications stack up against their current drugs… and if there are more cost-effective options available. Using evidence-based research, we can match members with the right medications rather than trusting the advertising hype. Plus, we continually reevaluate cost vs. effectiveness as new drugs are introduced and prices change.
Regardless of your group’s size, MedBen Rx has a solution that will work for you. Learn more about the benefits of comparative effectiveness by calling us at 888-627-8683.