Newswise — Waltham — February 20, 2024 — An online pharmacy offering standardized, transparent pricing can reduce out-of-pocket costs for patients taking common medications prescribed by urologists, suggests a study in the March issue of Urology Practice®, an Official Journal of the American Urological Association (AUA). The journal is published in the Lippincott portfolio by Wolters Kluwer.
"Although our study found variation in pharmacy costs between medications, 90-tablet prescriptions through Mark Cuban Cost Plus Drug Company [MCCPDC] had the greatest potential to directly reduce costs for patients taking common urologic medications," comments lead author Van Schloegel, MD, of University of Kentucky, Lexington.
Transparent pricing lowers costs for many urology drugs
Founded by US entrepreneur Mark Cuban in 2022, the MCDPDC aims to "end ridiculous drug prices" for generic prescription medications. The online pharmacy offers transparent pricing, with a 15% markup on the cost to manufacture each medication, plus small fees for pharmacist services and shipping.
Previous research has suggested that Medicare could reduce drug costs by buying through MCDPDC, with potential savings of $3.3 billion. The new study focused on whether MCDPDC pricing could lower patients' costs for patients taking common urologic medications.
The study focused on 12 drugs widely prescribed by urologists. Out-of-pocket costs to patients were compared for MCDPDC versus other online pharmacies and for local in-person pharmacies, with or without private insurance or Medicare coverage.
For 30-tablet prescriptions purchased outside of health insurance, the MCCPDC offered savings on just three of the 12 drugs. The data showed substantial variation in medication costs between pharmacies.
Study provides 'practical information' on filling prescriptions
For 90-tablet prescriptions, MCCPDC had lower costs for nine out of the12 medications. The greatest savings were seen for solifenacin and oxybutynin, used to treat overactive bladder; and for tadalafil, used to treat erectile dysfunction. For these drugs, MCCPDC saved about $12 to $20 per prescription, compared to the next-lowest pharmacy price.
Analysis of Medicare pricing also showed savings through MCDPDC, including substantial cost reductions for the hormonal drug abiraterone, used to treat advanced prostate cancer. Overall, MCCPDC saved money for five out of 12 medications, compared to buying through Medicare.
"Although the cost savings may not seem significant on a per prescription level, the total cost savings over a patient’s life on these often long-term medications or total cost savings to the health care system can be substantial," the researchers write. Some patients might see greater savings, especially considering the wide variation in out-of-pocket costs.
That's especially so considering the substantial cost variations shown by the study data – which emphasize the need for consumers to "pharmacy-shop" to find the best prices. Dr. Schloegel and coauthors conclude, "Our study is the first to give practical information on MCCPDC to urologists when prescribing these common medications to patients."
Wolters Kluwer provides trusted clinical technology and evidence-based solutions that engage clinicians, patients, researchers and students in effective decision-making and outcomes across healthcare. We support clinical effectiveness, learning and research, clinical surveillance and compliance, as well as data solutions. For more information about our solutions, visit https://www.wolterskluwer.com/en/health.
About Urology Practice
An Official Journal of the American Urological Association (AUA), Urology Practice focuses on clinical trends, challenges and practice applications in the four areas of Business, Health Policy, the Specialty and Patient Care. Information that can be used in everyday practice will be provided to the urology community via peer-reviewed clinical practice articles (including best practices, reviews, clinical guidelines, select clinical trials, editorials and white papers), "research letters" (brief original studies with an important clinical message), the business of the practice of urology, urology health policy issues, urology education and training, as well as content for urology care team members.
About the American Urological Association
Founded in 1902 and headquartered near Baltimore, Maryland, the American Urological Association is a leading advocate for the specialty of urology, and has more than 23,000 members throughout the world. The AUA is a premier urologic association, providing invaluable support to the urologic community as it pursues its mission of fostering the highest standards of urologic care through education, research and the formulation of health care policy. To learn more about the AUA visit: www.auanet.org
Wolters Kluwer provides trusted clinical technology and evidence-based solutions that engage clinicians, patients, researchers and students in effective decision-making and outcomes across healthcare. We support clinical effectiveness, learning and research, clinical surveillance and compliance, as well as data solutions. For more information about our solutions, visit https://www.wolterskluwer.com/en/health.
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About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
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