We talked about prescription medications on this week’s show. It’s true, prescription medications are an important part of the care we need for a number of health-related issues. It’s also true that many of these medications can be very expensive, particularly those that are not yet available as generic options.
There are also some worrisome statistics related to prescription medications that are worth noting:
- As much as 27% of ER visits are related to medication-related problems
- Up to 69% of all hospital admissions are related to medication-related problems
- ~11% of hospital re-admissions are related to medication-related problems
- ~ $140 billion in hospitalization costs are related to medication-related problems
- ~ 10% of all healthcare insurance expenditures are related to prescription medications
This week’s guests are using technology to address both the cost of these meds as well as working to reduce the amount of problems that can come from ineffective management of the medicines patients are taking.
Charles Stephenson is the founder of AuthentaScripts. AuthentaScripts is a web-based platform that works much like travel bidding sites such as Priceline. The user logs in, enters the name-brand medication they’ve been prescribedc, and, based on where they are geographically, the system displays the expected cost for that med at pharmacies within a 15 mile radius.
The patient has the ability to tell the system how much they’re willing to pay for the medicine and it will display places where it’s possible to find that price.
Dr. Sheila Woodhouse is a practicing Emory cardiologist and creator of DoxMed. DoxMed is a technology platform that becomes a complete database of a patient’s medications, why they’re taking them, how much, etc. The system allows patients to better understand what/why they’re taking what they are and better comply with the recommended regimen.
DoxMed also enables physicians to see the full gamut of meds a patient is taking and why, and make better decisions about what additions/changes should be made to avoid drug interactions, toxicity, etc., when prescribing for them.
Dr. Sheila Woodhouse, MD, CEO/Founder of DoxMed
- Doctor of Medicine, Temple University School of Medicine
- MBA, Business Administration and Management, Georgia State University J. Mack Robinsons College of Business
- Board Certified, Cardiology
- CEO/Founder, Sentikon Technologies & Consulting
Charles Stephenson, CEO/Founder of AuthentaScripts
- BA, Management, University of Phoenix
- Former Phase Team Leader, US Army
- Founder, RescuePigeon
- Previous Field Engineer, Lockheed Martin
Jimmy Godwin, Pharmacy Intern at Publix
- Doctor of Pharmacy, Mercer University
- Member, Georgia Pharmacy Association