FamilyWize, GenieMD partner to lower medical costs

FamilyWize says it has teamed up with mobile health specialist GenieMD to further its goal of providing affordable prescription medicine.

The partnership will see FamilyWize’s (Center Valley, PA, USA) prescription discount card and price comparison service made available through the GenieMD (Pleasanton, CA, USA) app.

That means app users will be able to compare prescription prices at local pharmacies and use the FamilyWize prescription discount card to buy FDA-approved medicines at an average saving of 40%.

The app – available on iOS and Android operating systems – stores a digital version of the card that can be shown at pharmacies to reduce the cost of prescription medicines.

Set up in 2005, FamilyWize is a so-called community service partnership whose savings cards are currently distributed by corporate and technology partners, plus more than 50,000 community agencies.

“Taking your prescription medicine is important to your health and wellness, but cost should never prevent that from happening,” said Dan Barnes, FamilyWize’s chief executive. “That’s why FamilyWize is teaming up with GenieMD to help consumers find the most affordable prescription medications.”

FamilyWize says surveys have consistently shown that high costs remain a factor in non-adherence to prescription drugs.

A study by the Commonwealth Fund in 2012 found that 60% of uninsured adults and 33% of underinsured adults with chronic conditions skipped doses or did not fill their prescriptions because of the expense.

Meanwhile, the non-profit New England Healthcare Institute has found that non-adherence costs the US as much as $290 billion a year – or 13% of total healthcare expenditure.

“Poor medication adherence is responsible for avoidable hospital admissions, and 33% to 69% of all medication-related hospital admissions in the US, at a cost of about $100 billion per year,” said the National Conference of State Legislatures.

GenieMD says the partnership will help it support users in managing medications and following treatment plans.