I always get very skeptical when an ROI goes above 3:1 so I was a little shocked to do some retrospective analysis with one of our Specialty Pharmacy clients at Silverlink and come up with an ROI that was 22:1 (or 2,200% ROI). And, this was based on a pretty simple application. (Of course it helps that specialty drugs are expensive and have a reasonable margin in some cases.)
But, for those of you interested, here are a few factoids:
- A simple refill reminder program saved $12K per month in agents by automating the process
- The program accelerated the refill timing within a 30-day period leading to less gaps-in-care
- The program had almost a 20 percentage point jump in refill rates (a proxy for adherence)
It also validated a few things for us and the client:
- As observed nationally, adherence has gone down over time (even on specialty medications) during this recession.
- “I forgot” is still a common issue around adherence and solutions to address that should be the first thing that companies do.
Of course, the work doesn’t stop there. We obviously want to continue our work on longitudinal analysis to look at MPR (Medication Possession Ratio) over time. We also are working with them on addressing the other barriers on these medications (e.g., cost, side effects) by customizing communications by condition and based on the individual patient attributes.
If you’re interested in hearing more about how Silverlink works with clients on adherence (or tactically on refill automation), please feel free to reach out to me.