New cost-benefit analysis finds positive returns for OptimiseRx and AnalyseRx users!
In light of the challenges currently facing ICBs, including the burden of preventable adverse health outcomes, the need for effective resource allocation, and increasingly stretched teams, medicines optimisation solutions are more important than ever in supporting primary care teams in delivering better patient care and system-wide efficiency. To explore this further, FDB (First Databank) collaborated with Unity Insights to conduct a high-level cost-benefit analysis of our primary care solutions OptimiseRx and AnalyseRx. The results showed that both solutions can provide a promising return on investment to ICBs looking to increase cost savings across prescribing.
The study employed a combination of literature reviews, quantitative analysis, and a high-level cost-benefit overview. Drawing from performance data and validated academic research, the evaluation assessed the health economic outcomes of a selection of messages across OptimiseRx and AnalyseRx. Across OptimiseRx, messages relating to the use of fluoroquinolone were analysed, while for AnalyseRx, they reviewed messages relating to direct oral anticoagulant (DOAC) opportunities.
Cost-Benefit Findings of OptimiseRx
Optimising the use of fluoroquinolones promotes antimicrobial stewardship – a key medicines optimisation priority - by reducing inappropriate prescribing, lowering the prevalence of infections, and avoiding treatment costs. Analysis of OptimiseRx’s fluoroquinolone messages revealed a five-year net present value (NPV) of £2.5 million and a promising £4.70 return for each £1 invested! This positive return stems primarily from cash-releasing benefits such as avoided medication costs and savings from reduced infection treatment costs, which alone contribute 75% of the solution's value. What’s more, these fluoroquinolone messages tested as part of the study only represent less than 1% of the overall messages available to prescribers within OptimiseRx, with new content being developed and updated regularly by our in-house team, suggesting impressive wider financial benefits for OptimiseRx customers.
Cost-Benefit Findings of AnalyseRx
Effective monitoring of DOACs helps reduce the risk of strokes and bleeding complications, delivering both clinical and cost-saving benefits by preventing avoidable hospital admissions and long-term care expenses. The evaluation of AnalyseRx on DOAC opportunities uncovered a £1.30 return per £1 invested, and impressively, the reduction in stroke and bleed risk provided the most significant return, accounting for £2.2 million in wider benefits. Like the OptimiseRx study, only 2% of the opportunities within the solution were analysed in this initial assessment, which emphasises the potential for wider financial and health-related benefits across more comprehensive use cases.
What Do These Findings Mean?
As primary care teams work hard to balance improved patient outcomes with the need for efficiency, waste reduction and cost saving across prescribing, these findings demonstrate the cost-effectiveness of OptimiseRx and AnalyseRx when used to support medicines optimisation across two areas of priority for the health service. They also highlight the huge potential for further cost savings when the entire solution is deployed across a population.
If you’re interested in learning more about how OptimiseRx and AnalyseRx can help your organisation save money while improving patient outcomes, get in touch at contact@fdbhealth.com
