Medical Expenses and Prescription Costs: Leveraging a Large Financial Assistance Network for Easier Access to Patient Assistance Programs

Dive into the benefits of using a robust financial assistance network

March 27, 2024
financial assistance network

Tapping into a vast patient assistance network is crucial for maximizing the support available to patients struggling with medical expenses. By accessing the largest network of funding sources, patients significantly increase their chances of finding a match that can alleviate the financial burden of their care. These programs, often sponsored by pharmaceutical companies, nonprofit organizations or governmental agencies, aim to alleviate the financial burden of healthcare for those in need. Here's a brief overview of the various types of programs available:

Free Drug Programs

Offered directly by pharmaceutical companies, free drug programs provide certain medications at no cost to patients who qualify. These programs are particularly beneficial for those who are uninsured or underinsured. Eligibility criteria can include patient income, insurance status and medication needed.  

Copay Assistance Programs

Copay assistance programs reduce out-of-pocket costs patients pay for their prescriptions or drug therapy administered by health care professionals. These programs are typically sponsored by pharmaceutical companies. They are designed to cover or lower the coinsurance or copay required by a patient's insurance plan, making treatment more affordable.

Foundation Grants  

Foundations offer grants to cover a wide range of healthcare expenses, including but not limited to medications, treatments and sometimes even non-medical costs associated with care, like travel or lodging. These grants are typically diagnosis and need-based.  Many healthcare providers have internal foundations which offer support in this capacity as well.  

The Key for Connecting to These Programs

The integration of technology plays a pivotal role in streamlining this process. Technology can automatically evaluate which patients need assistance and identify what programs they may be eligible for. By having the ability to secure consent and program deliverables from patients electronically and having enrollment forms pre-populated with data from electronic medical records, it improves the efficiency of this process and eliminates manual entry errors. Advanced technology can verify if forms meet all necessary requirements and can automatically submit the enrollment with minimal or no human intervention. This not only expedites the assistance process but also ensures patients receive the help they need promptly and efficiently.  

Patient assistance programs can be a lifeline for many, offering hope and support in the face of daunting medical expenses. However, navigating these programs can be complex. Having the right technology to improve access and enrollment to the various programs is essential in today's healthcare landscape.