What is Medication Non-adherence? Health and Financial Risks

Medication non-adherence. It’s a big problem. People are not taking the right pill at the right time. The health and financial risks associated with medication non-adherence impacts individuals, families and caregivers. Today, millions of people depend on others for their medications and, for those who manage multiple medications, it can be complicated and confusing. For many people, loved ones can’t always be there to keep track.

The Financial and Health Risks

Nearly 37% of seniors take 5 or more medications and one out of every ten seniors hospitalized are the result of the consumption of ill-timed, mistaken, or missed medication. The cost of medication non-adherence exceeds $300B and more than 125,000* deaths annually in the United States. That’s a high price to pay for both  individuals and the healthcare system more broadly.

In addition to all of this information, it’s important to call attention to the cost of non-adherence at a more personal level, as oftentimes the expense of not taking medications shows up indirectly. The National Council Medical Director Institute published a report in September, 2018 stating that “medication non-adherence accounts for 30-50 percent of treatment failures and 10-25 percent of all hospital and nursing home admissions.” A host of other expenses from the ambulance to the Emergency Room are triggered by non-adherence. These unplanned expenses can be devastating for individuals living on a fixed income, and put additional financial pressure on Medicare and other public programs.  

As it relates to better health, the cost of ill-planned or timed drug interactions means risking outcomes that could be debilitating to the patient in more ways than one. For many chronic conditions, improved health outcomes are difficult without proper adherence. A Network for Excellent in Health Innovation (NEHI) study showed that non-adherence could be tied back to an increased risk of hospitalization, while also providing evidence that mortality rate for heart disease and diabetes was 12.1 percent for non-adherence patients compared to 6.7 for adherent patients.** This is just one example of the implications of non-adherence reported in a specific population.

Reducing the Risks

So what can we do to reduce these risks? Several options are: increase access to or engaging the services of a paid caregiver, add more frequent communication with your provider to monitor your adherence activity, or find a technology-enabled medication assistance solution that your loved one can manage on their own. Since most people are reluctant to admit their shortcomings in taking their meds, it’s often unclear when non-adherence has become a liability.  

Trust in Ōmcare

That’s why Ōmcare was created: to address medication non-adherence and offer remote care solutions through simple, face-to-face interactions and monitored remote pill dispensing that  reduces the risk to financial and personal health outcomes. With Ōmcare you have remote, visual confirmation of adherence and a complete medication history that gives caregivers peace of mind, and provides better information for physicians and nurses to treat and diagnose.  

Stay up to date with the latest from Omcare and the release of the Telemed System by subscribing to our email.

Sources:

*https://www.nacds.org/news/the-cost-of-medication-non-adherence/

**Network for Excellence in Health Innovation. (2016, September). Better Uses of Medicines for Diabetes Patients. Retrieved from https://www.nehi.net/writable/publication_files/file/better_use_of_medicine_for_patients_wieth_diabetes_nehi_9.8.2016.pdf

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3934668/


Healthcare Innovation Startups: Most Successful Companies of the Last 10 Years

Today, the healthcare startup scene is booming. With 2018 projected to be the biggest year for investing for the healthcare industry, the future appears promising as more and more groundbreaking companies emerge into the field with bold strategies for solving problems.

However, the healthcare startup landscape wouldn’t be so prosperous without the prominent startups that emerged from the earlier days and succeeded. As the list of startups continues to grow, here are seven of the most successful healthcare startups of the last 10 years.

AbbVie

Headquartered in North Chicago, this biopharmaceutical company was founded in 2013 by Richard Gonzales. Abbvie, which originated as a spin-off of Abbott Laboratories combines advanced science, expertise, and passion to solve serious health issues, which has had a huge impact on people’s lives all around the world. AbbVie currently has ~29,000 employees in over 175 countries and made $28.2 billion in revenue. 

Privia Health

A physician practice management and population health technology company, Privia Health works towards keeping people healthy, preventing disease, and improving care coordination both in and outside of the doctor’s office. The private company incorporates key partnerships with employers, health systems and technology, team based-care, and a unique wellness programs to help them on their mission.

Adaptive Biotechnologies

A pioneer and leader in combining high-throughput sequencing and bioinformatics to profile T-cell and B-cell receptors, Adaptive Biotechnologies definitely belongs on this list due to their influence and work within the healthcare sphere. Their immunosequencing platform drives groundbreaking research in cancer and other immune-mediated diseases, which they hope to use to improve patient care and clinical diagnostics.

WeDoctor  

Dubbed the “Amazon of healthcare,” WeDoctor is the one of the world’s leading medical health technology platforms. Based in China and founded in 2010 by Jerry Liao Jieyuan, WeDoctor works towards addressing the problem of China’s underfunded and overstretched hospitals. Currently WeDoctor has more than 150 million registered users in China for their online appointment booking, prescription, and diagnostic services. The privately held company is valued at $5.5 billion.

Moderna Therapeutics

Moderna Therapeutics works towards creating MRNA medicines for a wide range of diseases and conditions. Based in Cambridge, MA, the company uses mRNA medicines which allows them to take advantage of normal biological processes to create a desired therapeutic effect. Because of this, they can treat a broad spectrum of diseases, some of which do not have current therapies. Moderna Therapeutics was valued as high as $5B in 2017 by some analysts.

Reata Pharmaceuticals

Reata Pharmaceuticals is biopharmaceutical company that develops drugs for cancer, inflammation, and neurodegenerative diseases. Reata’s mission is to identify, develop, and commercialize novel therapeutics to address serious and life-threatening diseases with few or no approved therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. Reata’s lead product candidates, bardoxolone methyl and omaveloxolone, are Nrf2 activators, which are a transcription factor for restoring mitochondrial function, reducing oxidative stress, and resolving inflammation.

Vezeeta

Vezeeta.com is the leading digital healthcare booking platform and practice management software in MENA that works towards helping the shift towards automated physician, clinic, and hospital bookings to make healthcare more accessible in the region. With over 200,000 verified reviews, patients are able to search, compare, and book the best doctors for them through Vezeeta.

Ōmcare

Our mission isn’t to capitalize on the booming healthcare market, but to push the industry’s success even further with our technology and forward-thinking philosophy. With the Ōmcare Telemed System, we are looking to tackle the problem of medication non-adherence. Of all prescriptions that are filled, 50% are taken incorrectly by the patient. Furthermore, there are 125,000 deaths each year and over $300 billion lost in healthcare costs annually.

At Ōmcare, we are driven to extend the reach of caregivers while enabling face-to-face care from anywhere. Through our technology and innovation, we are actively working towards decreasing the cost of care and empowering patients of all types. We can do what no one else has done before: deliver real medication adherence. We partner with pharmacies, payers, providers, and family caregivers to help people live a healthy, indiependent, and vibrant life no matter their situation.

To stay up to date on the latest news from us, as well as the release of our Telemed System, subscribe to our email.


Family Member vs In-Home Nurse: Pros and Cons

The big decision that many families must make when it comes to taking care of an elderly family member is when is the time, if ever, to transition them to a nursing home, often called Skilled Nursing Facilities or SNFs. For some families, nursing homes are the best option when considering all the different factors, such as cost, increasing health concerns and the willingness of the elder to move out of their home into a place that is unfamiliar.

For others, the best course of action is to have your parent/grandparent continue to live in their home and have either a family member or in-home nurse take care of them. But which option should you choose? For families facing this decision, they must look at all possible scenarios to see which works best for their elderly family member and themselves, as well as the financial implications of each option.

To help you decide what route to take, here are the pros and cons to a family member caretaker vs. an in-home nurse.

Family Member Caretaker

Pros

Increased Time with Family

Many seniors experience feelings of loneliness, and by being an active participant in their life by helping take care of them, family member caretakers can help alleviate these feelings.

Decrease Expenses

By having a family member be the primary caretaker, you can avoid paying extra money for an in-home nurse, which can be quite costly, especially if you’re having trouble using insurance to help cover some of the costs.

Cons

Not Prepared for Medical Emergency

Nurses tend to be more expensive because they are providing an important service to your family member. In the case of an emergency that you are not prepared to handle, an in-home nurse is better-equipped to act fast and appropriately to any situation.

Restricted Freedom

You may take off work and free-up your schedule to give the amount of care that is necessary for the senior in your family, but it can be hard to make sure you are available no matter when to help out. There is a certain level of restricted freedom one must expect if they choose to take on the responsibility of primary caretaker, and sometimes it can be hard to make time for yourself.

In-Home Caretaker

Pros

Full-Time Care

With a nurse, you have the assurance that at all times, your family member is in safe hands. An in-home nurse’s primary responsibility is to look out and care for their patient. You’ll free up your own time, while not having to worry that no one is home to assist your loved one.

Personal Interaction

A new caregiver will allow the senior in your family to build a new relationship, which is great for improving overall happiness and the emotional well-being of your loved one.

Cons

Expensive

Nurses can be costly, and for a good reason, as the service they are providing is extremely important. However, one must always consider the cost when it comes to bringing in a full-time in-home nurse.

Finding Quality Care Can Be Hard

This isn’t as difficult as it may have been 15 years ago, as there are plenty of resources out there to help you narrow your search and find the best fit for your family member’s needs and your own. However, you do want to make sure that you find that perfect fit, which may take some time.

Consider Ōmcare to Assist in the Caretaking of Your Loved Ones

As you can see, there are many options to consider when thinking about care - in home or otherwise for the caretaking of your loved one. As you begin to explore the vast landscape, from partially-assisted to full in-home care or on your own, you’ll benefit from knowing that there are choices. No matter which option is best for your family, Ōmcare’s Telemed System offers caregivers of all types the ability to see, speak to, and confirm appropriate medication from anywhere. This new product, launching early 2019, allows you to make sure that your loved ones are taking their prescribed medicines through a video chat interface. It even dispenses the pills to ensure they receive the right pill at the right time. When you can’t physically be there to take care of your loved one, Ōmcare still gives you a chance to be there for them.

Connect with us by subscribing to our email and stay up to date on the latest product releases and news from Ōmcare.