Walgreens Boots Alliance’s Integrated Approach to Medication Adherence
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The initiative by Walgreens Boots Alliance to tackle medication non-adherence touches on several key areas within the pharmaceutical industry. Medication adherence is a critical factor in patient outcomes and its improvement can lead to significant cost savings for the healthcare system as a whole. By addressing the systemic barriers that patients face, Walgreens is not only working towards better health outcomes but is also strategically positioning itself to potentially reduce the wastage of medications and increase the frequency of prescription refills. This could lead to a direct impact on their revenue streams from repeat prescriptions.
However, the effectiveness of such programs is contingent upon their implementation. The costs associated with these initiatives must be weighed against the potential savings from improved adherence. Additionally, the company's efforts could foster customer loyalty and enhance its brand reputation, which are intangible assets that contribute to long-term success. The pharmaceutical retail sector is highly competitive and a successful adherence program can serve as a differentiator in the market.
Walgreens Boots Alliance's focus on medication adherence aligns with broader healthcare policy goals of reducing costs and improving patient care. Non-adherence is estimated to cause approximately 10% of hospitalizations and costs the American healthcare system nearly $300 billion annually. By investing in adherence programs, Walgreens is potentially contributing to a decrease in these figures, which is of interest to both policymakers and insurers.
From a policy perspective, successful adherence strategies can lead to improved healthcare outcomes and reduced emergency room visits and hospitalizations, which are key metrics for value-based care models. If Walgreens' approach proves effective, it could serve as a model for other healthcare entities, potentially influencing policy decisions related to healthcare funding and insurance reimbursement strategies.
The economic implications of medication non-adherence are profound, with direct costs to the healthcare system and indirect costs through lost productivity and worsened health outcomes. Walgreens Boots Alliance's initiative could be seen as an investment in health economics, aiming to reduce these costs. By improving adherence, they could indirectly contribute to the overall economy by ensuring a healthier workforce.
Moreover, the long-term data generated from adherence programs can provide valuable insights into patient behavior, which can inform future healthcare economic studies. It is important to note that while the upfront costs of such programs might be substantial, the return on investment through improved health outcomes and potential reductions in healthcare spending could be significant.
NORTHAMPTON, MA / ACCESSWIRE / April 9, 2024 / The failure to take medications as prescribed is associated with adverse health outcomes and rising healthcare costs. Walgreens Boots Alliance strives to improve medication adherence by addressing systemic barriers to care. Barriers can include everything from a misunderstanding of prescription interactions with other drugs to a lack of access to transportation. Lack of insurance, financial insecurity, inconvenience and forgetfulness are also commonly identified as factors in adherence failure. You can learn more about how WBA is overcoming barriers to medication adherence in our 2023 Environmental, Social and Governance Report.
Our pharmacists and healthcare providers take the extra step to help ensure adherence among their patients. Analytics help us predict the patients most likely to become non-adherent and identify custom ways to reach them and help them maintain their regimen. Adherence programs for the most complex treatments and disease-state management programs include phone, virtual and in-person consultations to address potential side effects and offer remedies, digital solutions including medication synchronization, delivery, consultations and patient education and efforts to connect patients to financial assistance to help them stay on track.
Our pharmacists are continuously learning and updating their training on common chronic conditions including hyperlipidemia and diabetes management. Recognizing that diabetes, high cholesterol and hypertension are prevalent among Americans, we tailored specific programs to help improve outcomes for patients living with these disease states. Across these conditions, Walgreens PDC (Proportion of Days Covered) rates improved by
Medication non-adherence remains a significant barrier to positive health outcomes for those with mental health conditions. To help support greater adherence, outcomes, and lower overall costs for patients and payers, Walgreens has added oncolytics, estrogen hormones, antiandrogens and continuous glucose monitoring (CGM) devices to its New to Therapy pharmacy program in addition to anti-anxiety medication, anti-psychotics and anti-depressants.
Walgreens works to improve medication adherence, manage chronic disease and overcome barriers to care through numerous programs, which you can learn more about in our 2023 Environmental, Social and Governance Report.
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Contact Info:
Spokesperson: Walgreens Boots Alliance
Website: https://www.3blmedia.com/profiles/walgreens-boots-alliance
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SOURCE: Walgreens Boots Alliance
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