How HealthPrize Uses Financial Incentives and Fun to Change Patient Behavior
Medication non-adherence is one of the most significant problems in healthcare. It is responsible for an astonishing number of poor outcomes and, as a result, an estimated $290 billion in otherwise avoidable medical spending in the US per year. It is also responsible for over $150 billion in lost pharmaceutical revenues per year. Up to 25% of prescriptions are never filled, and average medication compliance, for people who do fill their prescriptions, is only about 50% for most chronic diseases.
There have been many strategies to overcome poor adherence. Drug companies, for example, have incentive programs that include coupons for the partial or total re-imbursement of copayments. Usually, however, these programs are designed more for capturing initial market share during the launch phase of a new drug than for maintaining allegiance to a product that has been on the market for some time. With fewer and fewer prospects for new blockbusters, pharmaceutical companies these days can no longer ignore the value of increasing adherence.
Recently, HealthPrize, a startup internet-based software company, was featured in a New York Times article that described a lottery in which patients prescribed warfarin, an anti-blood-clot medication, can win $10 or $100 each day they take the drug.
This article provides details about the HealthPrize’s innovative, compelling approach to solving one of pharma’s most perplexing puzzle: how to improve medication adherence. Included is a summary of a Pharma Marketing Talk podcast interview of Tom Kottler, CEO, and Katrina S. Firlik, M.D., Chief Medical Officer, HealthPrize.
Topic headings include:
- Wasted Money, Poorer Outcomes
- Unique Motivation
- Engagement Engine
- HealthPrize Dashboard (figure)
- A Health Loyalty Program
- Confirming Compliance
- Regulatory, Legal and Ethical Issues
- Which Patients Need Help Most?
- Validation of Content
- The Role of Social Media
Hook Them, Then Build Motivation
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Issue: Vol. 9, No. 7: September 2010
Word Count: 2757
Find other articles in related Topic Areas:
- eMarketing and ePromotion
- Compliance Marketing & Education
- Patient Education
- Customer Relationship Management (CRM)
- Product & Service Reviews