Specialty medications are uniquely designed to treat serious, often life-threatening illnesses that are more complex in nature, such as cancer, rheumatoid arthritis, and hepatitis C—but these medications come at a high cost, and it’s on the rise.
Despite only two percent of the population using specialty medications, it is estimated that these medications will represent nearly 50 percent of payer costs by 2020. In fact, retail prices for specialty medications have tripled in the last 15 years. According to an AARP report, the average annual cost of a specialty drug is around $78,781.
With data like this, it’s no surprise that unmanageable healthcare costs are the number one reason that people declare bankruptcy in the U.S. At Avella + BriovaRx, we believe that a steep price tag should never prevent patients from accessing potentially life-saving medications—but the reality is that it happens all the time.
That’s why we have partnered with FundFinder, a tool that provides relief for patients who can’t afford the specialty medications they’re prescribed. Here’s how it works:
FundFinder is a web-based tool that was designed by the PAN Foundation to help patients and providers quickly learn when financial assistance is available for treating life-threatening, chronic diseases. Using FundFinder, patients connect with funds from charitable organizations that reduce the overall cost of specialty medications.
Recognizing that many patients need immediate access to specialty medications, the FundFinder tool notifies users via text or email instantly when an application period is open. This efficient process makes it easy for patients to secure valuable financial assistance for specialty medications—in many cases, within hours or even minutes.
A number of charitable foundations can be found on FundFinder, including organizations that have focused their efforts on HIV, cancer, hepatitis C, and other serious health conditions. Anyone can sign up for FundFinder, including patients, providers, and family members. Users can search for open funds by health condition and access direct links to apply for funding through foundation websites.
At Avella and BriovaRx, we recognize that costly medications create a major financial burden for many people battling chronic conditions. We work with our patients to find financial assistance to help combat the high cost of specialty medications. In fact, we have helped patients receive more than $68 million in financial assistance through drug manufacturer programs and charitable foundations. Our team members go above and beyond to help patients gain access to more affordable specialty medications.
Avella and BriovaRx’s partnership with FundFinder streamlines the search for financial assistance by allowing everyone—from patients and their families to physicians and pharmacists—access to instant updates on charitable funds when they become available. This eliminates the need to manually monitor websites and avoids missed opportunities for financial assistance when deadlines lapse.
Thanks to FundFinder, individuals and their doctors can search for charitable funds directly and increase the likelihood of securing much-needed financial assistance. Learn more about our partnership with FundFinder and how you can sign up for the tool.