August 15, 2016
In the digital world of today, finding out the price of a consumer good is easier than ever. Whether it’s TVs, dog food, laptops, or plane tickets, everyone knows how much they’re paying before they pull the trigger. But when it comes to prescription medication, patients are often left in the dark until they walk up to the counter. Fortunately, one startup aims to stop this destructive practice before it gets out of hand. And it’s working.
Blink Health is a free mobile app and website that provides users with low prices on prescription medication. While people on insurance may think they are getting the low prices, many Americans are unaware of the actual prices available on the market. With Blink Health, they have the chance to get informed about their particular prescriptions, saving them money where it counts. But how are prices so low?
“Power in numbers,” said Geoffrey Chaiken, the CEO of Blink Health in an interview with Tech.Co. “Blink Health is completely free to join. When patients become members, they join a group of 25 million Americans. This allows us to negotiate the best possible prices on the most prescribed medications.”
Many may ask, “But why do we need a means of affordable health care?” Those people have clearly never had to pay for their own medication. Especially in the US, drug costs have sky-rocketed. A recent survey found 80% of pharmacists saw an increase in generic drug prices 26 or more times over the previous six months; 93% said the situation has worsened since 2013. And that’s not good.
“The high price of prescription drugs is one of the most serious threats to the health of Americans,” said Chaiken in the same interview. “30% of prescriptions are left at the pharmacy because people–even people with health insurance–have difficulty paying.”
By every account, health care should be a right. In a country that boasts “life, liberty, and the pursuit of happiness,” on a regular basis, we have made little effort to preserve the former through affordable medication. Fortunately, Blink Health is a notable step in the right direction. And their CEO is committed to taking as many steps as possible to right the wrongs of a failing system.
“Our long-term goal is to drive copays down to zero and we’ll continue to innovate until we do.”
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