58% of Payers Use Outcomes-Based Contracts for Prescription Drugs

Statistic Info

In addition to outcomes-based contracts, payers are increasingly entering into formulary management contracts and risk-sharing agreements with pharmaceutical companies. The purpose of these agreements is to encourage providers to use drugs that are more cost-effective and/or are better suited for a given patient’s condition.

Author: HealthPayerIntelligence

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Clinics & Pharmacies

Up to 37% of prescriptions are never filled due to cost

There are an estimated 275,000 deaths and $528.4 billion wasted annually in the United States

In 2022, more than 2.34 billion prescriptions were filled using one e-prescribing company

90.9% of clinics reported using an online patient portal and 65.8% reported using self-check-in terminals or kiosks for patient visits

Retail clinic claims volumes have shot up by 200% in the past five years, according to a new report

Research suggests that 81% of the time treatments that are comparatively effective are also cost-effective

72% of physicians and nurse practitioners are anticipating that pharmacists will be a regular part of the care team by 2030

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58% of Payers Use Outcomes-Based Contracts for Prescription Drugs

95.7% of patients prefer to receive test outcomes immediately through their patient portals

Physician Practices

High rates of burnout is driving an expected shortage of up to 124,000 physicians in the U.S. by 2034

94% of patients would switch providers to access online scheduling options

Between 1990-2022, the number of osteopathic physicians has more than quadrupled from fewer than 25,000 to over 110,000

94% of patients noted a delay associated with Prior Authorization (PA), with 79% reporting that PA delays can lead to treatment abandonment

95% of patients said it is important for a physician to be involved in their diagnosis and treatment decisions

88.2% of medical groups are offering referral bonuses, up from 82.8% in 2023

In 2022, 31.2% of physicians reported they had been sued at some point in their careers. An average of 61 claims had been filed per 100 physicians

Physicians spend nearly 2 hours daily dealing with EHRs outside of working hours

20% of patients can get same- or next-day appointments when self-scheduling is available, and more than 50% can see their physician within a week

Corporate-owned practices have grown by 25% as independent private practices are bought out or abandoned in favor of hospital or corporately owned practices

More 2023 Stats

In 2023 there was a 13% revenue growth in Q2 due to rising enrollment

Only a little more than a third of the insured respondents agreed that insurance facilitates affordable access to care for all

the average cost of a healthcare data breach is $10.1 million

Up to 37% of prescriptions are never filled due to cost

The average cost of medication non-adherence in the U.S. ranges from $5,271-$52,341 per person

Nearly 42M children in the US get their health care through Medicaid or the Children’s Health Insurance Program (CHIP)

25% of patients have attended a telehealth visit to address a new mental health concern

The average star rating across Medicare Advantage contracts increased from 3.86 in 2014 to 4.37 in 2022, when 68.4 percent of contracts had a rating of 4.0 or higher

More than 60,000 of U.S. COVID-19 deaths in the pandemic’s first year were attributable to inadequate health insurance

Every eight hours that office-based physicians have scheduled with patients, they spend more than five hours in the EHR