History of Pharmaceutical Incentive Programs

In the U.S., many Manufacturers have moved towards alleviating their perspective patient’s financial burdens to help encourage both new trial, and increase the usage of their chronic drugs. When compliance & persistence on a drug is low, increasing patient involvement & easing financial barriers can result in large revenue increases. But until now, all the patient incentive vehicles available have each had their own unique issues:

Patient Rebates Issues:

Cumbersome process for patient
4 to 6 week processing time
Not reusable
Slow Reporting
Patient waits weeks for their money
Very low redemption rates

Adjudicated Vouchers Issues:

Limited pharmacy acceptance (55-60%)
No patient tie in
Low perceived value from patient perspective
Not easily reusable (paper deteriorates)
Slow reporting
Transaction not complete at point of sale
No Sales Credit
No POS Data

Stored Value Debit Cards Issues:

Not PBM adjudicated
Not Product Specific (Usage can not be enforced)
No mechanism to deter Medicare patient participation
$ are pre-loaded on card
Can't limit $ to Co-Pay
High Fraud Risk (no cross reference or product tie-in)

The LoyaltyRx card provides the best features of each of those vehicles without the negatives associated with those incentive vehicles at about the same cost upfront and becoming much less expensive over time due to the reusability and increased redemption rates the card has!