Retail, Internet and Mail Order Pharmacies
Prescription drug spending in the U.S. ballooned last year to nearly $374 billion, which was not only a hefty 13.1% increase in growth, but also represented the highest level of spending since 2001, according to a new report from the IMS Institute for Healthcare Informatics. Not surprisingly, most of this money was spent through retail, internet and mail order pharmacies.
Interestingly, great effort is put into protecting prescription medications from theft throughout the supply chain – from the pharmaceutical manufacturer through to the local pharmacies – but once the medication is handed over or mailed to the patient from the pharmacist, it is for the most part, completely left unsecured in the home.
Until now, there has been no effective security storage solutions for prescription medications where it is needed most – in the home – in the medicine cabinet, kitchen cabinet, or any cabinet or drawer a person may find convenient and easy to access.
Medication adherence generally refers to whether patients take their medications as prescribed. By many accounts, medication adherence is very low in the United States with an estimated 50% of people stopping medication for a chronic condition in the very first year.
Pharmacies have been taking an active role in finding solutions to improve medication adherence. Unfortunately, keeping patients adherent and keeping the medication they need to take, both safe and secure in the home are often at odds with one another.
This challenge has now been solved by the iKeyp which provides the best of both worlds through its app-enabled intelligent patent pending design.