ESTERO, Fla., May 07, 2024 (GLOBE NEWSWIRE) -- Visory Health, a women-led, patient-first health tech prescription platform that is transforming the way women, families, and caregivers access affordable healthcare through its prescription discount card, today releases the findings from its Prescription Habits Report, revealing that the sandwich generation (Americans 35 to 54 years old who are responsible for bringing up their children while also caring for their aging parents) and older patients are struggling to pay for prescriptions in addition to necessary bills, like groceries and phone bills.
The benchmark report surveyed more than 550 patients 35 years old and above in the U.S. who are the primary decision-makers in the household for healthcare to better understand their behaviors and pain points of accessing necessary medication and provide solutions.
Visory Health’s Prescription Habits Report comes at a critical time when wholesale drug costs are increasing 15% on average and the average cost for family health insurance offered through an employer increased 7% to a new decade high, costing families nearly $24,000 per year. With these high costs for prescription drugs, survey data shows that people are having to make difficult choices both financially and for their health.
Among respondents over 55 years old, 48% reported the need to choose between their prescriptions and essential bills, while 45% of those aged 35 to 54 faced similar decisions. Additionally, 55% of those over 55 years old answered they are changing how often they take their medication to get it to last longer, with the sandwich generation close behind at 50%.
Despite these challenges, data also shows that consumers are unaware of the additional options available to them to save on their prescription medications, often assuming insurance is the cheapest route. A staggering 58% of respondents didn’t know they could save money by choosing not to use their health insurance, and instead using an alternative like a prescription discount card. Of the respondents who have never used a prescription discount card, half of them said it’s because they didn’t know they could since they have insurance and 20% didn’t know what that was. These insights show the vast amount of education that needs to be done across America.
Stretching their prescriptions and struggling with bills, the sandwich generation is desperate for savings. 35% of respondents 35 to 54 years old are willing to fill prescriptions at multiple pharmacies for any type of savings, and an additional 40% of them are willing to fill at multiple pharmacies for $10 or more in savings. The generational difference here is clear, as 66% of older respondents (over 75 years old) are unwilling to fill prescriptions at multiple pharmacies.
“We see people daily needing to make suboptimal choices regarding their health, whether that’s not being able to afford prescriptions or needing to change the dosage amount despite recommendations to get the refill to last longer. Our goal at Visory Health is to help people live healthier lives, take their medications appropriately, and find prescriptions at a price they can afford. The data from this survey is eye opening,” said Visory Health SVP, Growth Alexandra Robertson. “This survey showed that 85% of respondents fill at least two prescriptions per month for themselves or their family. When you know this is going to be part of a monthly routine, it’s important to have all of the resources and information available to make an informed purchase.”
Other key findings of the Prescription Habits Report include:
- More men are frustrated by high prescription costs (51% vs 44%), and more women are frustrated by insurance plans not covering prescriptions (28% vs 21%).
- Respondents spending $80 to $119 a month on prescriptions are more likely to use prescription discount cards (49%) than those spending less money.
- The biggest frustration (47%) when it comes to purchasing prescriptions is high costs. More than half of the respondents (53%) have used a prescription discount card to get the best price.
- 25% of those surveyed use discount cards because of their pharmacist’s recommendations.
- 65% of respondents ages 35 to 54 years old have used prescription discount cards.
“The sandwich generation is caring for both their children and their parents, giving them a hefty financial responsibility to support their family,” said Chief Clinical Officer Dr. Cheryl Creamer at Visory Health. “Our survey indicates that people actively listen to their pharmacist’s recommendations. It’s important for them to guide people on how to get the best prices on their medication, including options like prescription discount cards so everyone can stay as healthy as possible.”
For more information on Visory Health and to find prescription savings, visit www.visoryhealth.com.
About Visory Health
Visory Health is a women-led, patient-first health tech platform transforming the way everyone, especially women, caregivers and underserved individuals have access to healthcare. Visory Health’s model puts customers’ needs and identities at the core of how it operates. It has saved millions of customers billions of dollars in drug costs, creating healthier families and communities in the end. With a network of pharmacy partners nationwide including Kroger, Stop & Shop, Publix and Walmart, Visory Health delivers better affordable prescription prices all over the country. To learn more, visit www.visoryhealth.com.
Media Contact
Erica Torres
Uproar PR for Visory Health
etorres@uproarpr.com
