HealthPrize, Capgemini update report estimating nonadherence costs of $637B

NORWALK, Conn. — HealthPrize Technologies and Capgemini this week published an update to their research paper that estimated the revenue lost by the pharmaceutical industry due to nonadherence at $637 billion in 2015. 

 

“Medication nonadherence is a serious global health issue that needs to be addressed immediately,” HealthPrize CEO Tom Kottler said.  “It also happens to be a critical business issue for pharmaceutical companies, and represents the ‘final frontier’ for them — the only area of their business where they can generate significant top- and bottom-line growth, improve outcomes, and create substantial savings for the healthcare system — all at the same time.”

 

The update to the paper notes that a focus on boosting adherence across pharmaceutical companies’ portfolios could bring benefits to both patients and the companies’s shareholders. It says that as healthcare continues to become more consumer-driven, companies should seek to bring to market products to treat chronic conditions with smaller patient populations while simultaneously paying attention to patient needs and behaviors with the aim of improving outcomes. 

 

“The tremendous human toll that results from nonadherence has been known for some time, but until we did the report with Capgemini, the business cost to the life science industry was not,” Kottler said. “With our updated analysis, we have shown that this business challenge continues to grow for pharmaceutical companies, while at the same time presenting them with their most significant opportunity to simultaneously support patients and shareholders.”

 

More information can be found at adherence564.com.