Fostering Solutions for Transparency with HealthSparq and MedSavvy
When it comes to transparency in health care, there is a lot of talk about costs. This should be no surprise, considering that pharmaceutical spending is projected to reach $483 billion by 2020*, and that 50 percent of consumers are not satisfied with the availability of health care cost information**.
When determining whether a medication is the right choice, people should consider more than just cost —it’s about safety and efficacy, too. People should feel empowered to ask—and find answers to—questions like:
- What is the proof of safety and effectiveness?
- How does this medication compare to others like it?
- Will the side effects interfere with my lifestyle?
- What do others think?
As part of our mission to transform health care, Cambia is focused on creating transparency solutions that give consumers more clarity into both the quality and cost of health care. Earlier this month, two of Cambia’s transparency-focused companies, HealthSparq and MedSavvy, partnered to offer health plans an updated solution for their members. HealthSparq offers tools including provider search and cost estimates for health care services to health plans, and now with MedSavvy on board, their solution also offers medication information including estimated cost, effectiveness, patient reviews and more.
In a recent HealthSparq blog post, Dr. Sean Karbowicz, General Manager and founder of MedSavvy, discusses how the partnership with HealthSparq can deliver health plans the ultimate health care navigation experience, offering the complete information that members need to make informed health care decisions.
Read the full blog post, “MedSavvy + HealthSparq: Cost is Only One Consideration When Choosing the Right Medications” to learn more about this innovative partnership.
*Pembroke Consulting and Drug Channels Institute, The 2016 Economic Report on Retail, Mail, and Specialty Pharmacies, January 2016.
**Altarum Institute, Right Place, Right Time: Consumer Perspectives, January 2017.