BLUFFTON, S.C., June 14, 2021 /PRNewswire/ — Famulus Health is excited to announce the launch of a new app that makes it easier, faster and more convenient to save money on prescription costs at the pharmacy.
In addition to saving consumers 80 percent on drug costs at the pharmacy counter, utilizing cash pricing reduces the pharmacy spend by 10-15 percent for health plans and employers.
Employer groups and other organizations can customize the app to provide the lowest possible drug prices to their members and track data from cash price transactions.
People with insurance often pay as much as 5-10 times more for prescription drugs than the cash price, which is what people with no coverage pay out of pocket. Copays are higher than the cash price for the same drug about 25 percent of the time.
“It’s an absolute shame that it’s been so difficult for people to get the lowest price on prescriptions they need,” says Mike Szwajkos, Founder and CEO of Famulus Health. “Three out of 10 Americans don’t take the drugs they need because of cost. It’s time to change that.”
Unlike many apps that are tied to a single cash price network, the Famulus app is configured to use the cash price network that aligns most closely with an organization’s usage data and results in the lowest prices.
Members see their organization’s branding when they use the Famulus app to find the lowest possible price for a prescription drug in their area within a matter of seconds. The Famulus app also enables employer groups to track anonymized cash price transactions of their members through the app.
There is no cost to use the Famulus app for individuals or organizations. In addition to health plans and employer groups, other organizations such as chambers of commerce, professional associations and more, can also offer a custom cash price network through the Famulus app as a perk to their members. Consumers who don’t belong to a Famulus partner organization can use the app, too.
The Famulus app is available on iOS and Android devices for free and is accepted at virtually every pharmacy in the US for most prescription drugs. Famulus is an affiliate of Goodroot, a community of companies committed to reinventing healthcare one system at a time.
SOURCE Famulus Health