Recent National focus on the economics of diabetes care underscores need for a comprehensive, peer-reviewed, verified program for insurers, employers and individuals
PROVIDENCE, R.I., March 28, 2023 /PRNewswire/ — Today, on National Diabetes Alert Day, Abacus Health Solutions announces the results of a cost savings analysis of their patented Diabetes Care Rewards Program, which incentivizes long-term health behaviors and dramatically reduces costs of diabetes care for insurers, employers and individuals. The analysis was performed on a large national financial services company. It amplifies the importance of reducing costs and incentivizing adherence with diabetes management best practices, beyond insulin alone.
“U.S. employers spend $245 billion a year on diabetes, and recently, pharmaceutical companies have endeavored to reduce costs of expensive medications like insulin. We applaud this; however, insulin is only one medication in this landscape. There are other high-cost diabetes medications (e.g., Ozempic), and insulin is just one cost impeding people from optimally managing diabetes and related conditions,” said Edward Aberger, PhD, Abacus co-founder. “Reducing medication costs or waiving copays isn’t a silver bullet – but together with behavioral interventions that Abacus incentivizes, these steps support long-term improvement.”
For 15 years, Abacus has provided its Diabetes Care Rewards Program to individuals through insurers and employers, preventing and reducing avoidable hospitalizations and vastly improving health markers for those with diabetes and pre-diabetes. Their recent 15-year client analysis confirms an average out-of-pocket savings of over $850.00 annually for diabetes medications and testing supplies per individual. While the client absorbed the member costs, the major savings in reduced inpatient costs and medical expenses far outweighed the out-of-pocket benefit to the individuals with diabetes.
The analysis shows 17% reduced hospitalizations over 15 years, significantly reduced medical claims trends for all members with diabetes on the plan, and 60% improvement in A1C for individuals who previously had poorly controlled levels.
The high cost of insulin, which is relatively inexpensive to manufacture, has been in the spotlight for years. In his State of the Union address, President Biden called to cap insulin costs. At least 16.5% of people in the U.S. who use insulin report rationing due to cost, according to the CDC. Demand for insulin has grown as diabetes is the fastest-growing chronic disease globally, a 2022 study found. And people with diabetes spend about 240% more annually on medical bills and nearly 450% more on pharmacy expenses than those who do not have diabetes.
There is much more to diabetes care than insulin. Most people with diabetes have gaps in care, but those actively engaged in care management with Abacus have fewer gaps, more persistent insulin use, less serious adverse health outcomes and avoid costly hospitalizations.
Abacus delivers a structure of proven financial incentives to individuals. This drives engagement with both members’ own physicians and Abacus telehealth support. This produces a win/win/win for financial stakeholders, medical stakeholders, and individuals. Abacus makes medication and digitally connected monitoring devices financially accessible, removing barriers to optimized care, especially for those at highest risk. Abacus’ participants show more consistent provider visits, necessary labs & exams, and reduced clinical measures such as A1C, improved medication adherence, and a reduction in all-cause hospital admissions by a staggering 32%. To learn more or review Abacus’ clinical study, click here.
About Abacus Health Solutions
Abacus Health Solutions is a proven leader in chronic condition cost reduction and improved health outcomes, even for highly complex cases. Abacus provides data-driven, AI backed, evidence-based solutions through organizations to individuals with diabetes and related conditions. Founded by nationally recognized doctors and renowned behavioral science experts, Abacus’ patented approach engages, supports, and rewards members to work in collaboration with their medical providers via Abacus’ Good Health Gateway® online platform and app. By incentivizing and managing optimal health behaviors based on clinical guidelines, cost burdens are significantly reduced while enhancing productivity and wellbeing for individuals and organizations.
PRESS CONTACT:
Jackie Lucas
Vera Voce Communication
978-255-1159
356254@email4pr.com
SOURCE Abacus Health Solutions
