HORSHAM, Pa., April 2, 2014 (GLOBE NEWSWIRE) -- Symphony Health Solutions, a provider of high-value market research, analytics and technology solutions for life science manufacturers, payers and providers, today released key findings from research it conducted into the early effects of the Affordable Care Act (ACA) on demand for pharmaceuticals. The research shows prescription claims for Medicaid patients increased in January by 10 percent and in February by 14 percent over the same periods last year. The study also uncovered that average out-of-pocket cost for contraceptives has dropped more than 58 percent since 2012.
"Even with Medicaid expansion less than three months old, we're starting to see notable increases in Medicaid prescription claims," said Don Otterbein, SVP Marketing and Product Management, Symphony Health Solutions. "We expect this trend to continue and—mostly likely—to increase as newly enrolled Medicaid patients seek healthcare services."
Out-of-pocket costs for contraceptives began to decline for this class of medication immediately after implementation of the ACA birth control mandate in August 2012. These costs went from a high of $17.54 in July of 2012 down to $7.36 in February this year.
"These reductions in patient costs accelerated when plans launched their annual benefit designs in January 2013," said Otterbein. "This trend is expected to continue this year, although it is starting to slow."
To conduct the research, Symphony Health Solutions looked at combined third-party Medicaid and state-run Medicaid data using Dynamic Claims Lifecycle, its managed care research product that utilizes claims data from more than 42,000 unique retail pharmacies. For the contraceptive research, it looked at commercial payers, female patients and the drug class for contraceptive agents using PHAST 2.0 Prescription Monthly, which leverages the industry's largest sample of retail sales data with the fastest monthly refresh available and Dynamic Claims Lifecycle.
For more information, visit the Symphony Health Solutions website at www.symphonyhealth.com.
About Symphony Health Solutions
Symphony Health Solutions provides best-in-class information, analytics and technology solutions with actionable insights. The company helps clients grow while enabling a transformation of the healthcare ecosystem. By connecting and integrating a broad set of primary and secondary health research, analytics and consulting, it delivers a comprehensive perspective on the real dynamics that drive business in the life sciences market. For more information, visit www.symphonyhealth.com.