Year after year, government, academic and industry research confirms that there is a significant need for improvement in medication compliance in order to reduce unbridled increases in healthcare costs.
There are many studies indicating the US Health Care Industry currently wastes up to $300 billion per year because people don't take their medications properly . The end result is avoidable hospital stays, doctor visits, therapy, premature admission to assisted living, and even death. While patients and families endure the reduced quality of life that results, the bulk of this unnecessary cost is born by public payers and the health insurance industry.
Although there have been many attempts to solve this problem utilizing technology and human intervention, to date these methods have been either ineffective or prohibitively expensive. Examples include; cell phone prescription reminder services, various forms of automated pill dispensers, home health care specialists, counseling by both physicians and pharmacist.
MissNoMeds™ program is a breakthrough solution that works with the three stakeholders who can all benefit from an effective inexpensive solution to this problem; patients, pharmacies and payers of health care costs.
The payers of health care costs are the stakeholders with the most to gain. Private healthcare insurance companies, government funded health programs, large, self-insured corporations, and long term care insurance plans have significant financial interest in reducing their health care costs. These organizations are the ones who pay for most of the $290 billion that is wasted each year due to poor medication compliance. Without successful intervention, their costs will continue to rise.
With constant pressure from company healthcare administrators, federal and state governments, and consumers to lower health care costs, the MissNoMeds™ Medication Compliance Solution can provide costs reduction breakthroughs that everyone is seeking.
This program guarantees a low risk, high ROI incentive that payers can fund from a small fraction of the savings it generates. MissNoMeds™ program payer strategy is therefore to enable the insurance company to save billions of dollars with literally no risk.
The MissNoMeds™ program has been developed by Connected Medical Technologies, LLC. CMT's technology and compliance program will deliver a dramatic, positive impact on the Healthcare Insurance Industry. It will improve the quality of life for policy holders and their families/care givers. The proven reduction in direct medical expenses are very compelling and can be a valuable contributor to the bottom line performance of insurers. Furthermore, a fraction of the savings it generates may be used to reduce the cost of premiums (for consumers) therefore providing a powerful competitive advantage for our insurance provider partners, reducing some of the pressure from; benefit administrators, consumers, federal and state governments.
CMT can demonstrate to you exactly how we can reduce payouts for the typical private insurer by $1 Billion per year.
We'd be delighted to provide you with a financial business case. It's a great tool that allows you to quickly and easily model net savings based on different sets of assumptions. While the model uses industry averages, it's interactive and allows you to input your own key data so that you can generate in minutes, a forecast specific to your own business.
We invite you to contact us to schedule an introductory presentation. We're looking forward to helping you explore how this unique solution can impact both your insured members' health, and your bottom line.
If you have any questions, would like a demo, or would like to become a professional partner click here to give us your contact information and we'll give you a call.