2020 CONSUMER INSIGHTS
While we’ve kickstarted 2021 focused on continuing to help our clients and members lower their prescription drug spend, we’re also looking in the rearview at a year that challenged most of us. As 2020 came to a close, we took the opportunity to engage 700 people—all of whom use prescription drugs—and asked them to answer questions about a variety of issues, from COVID-19 to drug pricing, and plenty in between.
CHECK OUT THE INFOGRAPHIC OR FULL REPORT HIGHLIGHTING WHAT WE’VE FOUND—OR SCROLL DOWN FOR A PREVIEW OF THE SURVEY RESULTS.
STILL OUT OF CONTROL
It’s not news to us, but a whopping 7 out of 10 survey respondents don’t feel like they have any control over the cost of their prescriptions.
And since 34% saw the price of their prescriptions increase from 2019 to 2020, there’s more work to be done.
COVID'S IMPACT
The pandemic has upended so many aspects of our lives—health, financial, family, you name it. Of all the ways that people are changing their behavior in response to COVID-19, our survey highlighted three key areas:
Fulfillment
Trends
46%
switched to mail-order or 90-day fills due to COVID-19 and to reduce their prescription costs.
Medication
Adherence
25%
skipped filling their prescription or rationed their medication.
Delayed
Care
42%
skipped or postponed an annual wellness visit.
DEMOGRAPHIC SNAPSHOT
Ages 18-29
Financial Fallout
52% incurred job loss or reduced wages/ hours due to COVID-19.
Ages 30-44
Feeling in Charge
Almost 40% felt like they were in control of their prescription costs.
Ages 45-60
Going Virtual
42% changed an in-person visit to a telemedicine appointment due to COVID-19.
Ages 60+
Clipping Coupons
39% utilized a discount card in hopes of lowering their prescription costs in 2020.
WHO'S IN CHARGE?
When asked who should be responsible for lowering the cost of prescription drugs, our survey respondents’ answers were largely split—41% to 40%—between the government and pharmaceutical companies. In reality, it's much more complex than that.
LOOKING FORWARD
More than 70% of respondents expect the price of their prescriptions to either go up or stay the same as a new presidential administration takes over in 2021. Here’s what they said they plan to do about it:
29%
use a price transparency tool.
24%
talk to their healthcare provider about lower-cost alternatives.
22%
switch or continue to use home delivery services.
WANT TO SEE MORE RESULTS FROM OUR SURVEY?
CHECK OUT OUR INFOGRAPHIC OR DOWNLOAD THE FULL REPORT.
