Recently Bonum Health announced about their partnership with Singlecare, for prescription saving. On October 13, Trxade Group Inc., an integrated drug procurement, delivery and healthcare platform, published that their subsidiary Bonum Health has partnered with SingleCare, the prescription savings service, and plans to provide discounts powered by SingleCare. “The enterprise service will be offered to national, regional and local pharmacies to promote the benefit to uninsured patients and underserved communities,” – Bonum Health said.
Healthcare Costs Continue to Rise
After the start of COVID-19 pandemic the cost of healthcare begin extremely increase. Overall healthcare costs — including all private and public spending — are anticipated to rise by an average of 5.5 percent per year over the next decade — growing from $3.5 trillion in 2017 to $6 trillion by 2027. Healthcare spending is projected to grow faster than the economy, increasing from 17.9 percent of gross domestic product (GDP) in 2017 to 19.4 percent of GDP in 2027.
To date thanks to pandemic there are millions of unemployed across America, but total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined to 7.9 percent, the U.S. Bureau of Labor Statistics reported.
These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In September, notable job gains occurred in leisure and hospitality, in retail trade, in health care and social assistance, and in professional and business services. Employment in government declined over the month, mainly in state and local government education.
Besides coronavirus, there are many possible reasons for this increase in healthcare prices:
- The introduction of new, innovative healthcare technology can lead to better, more expensive procedures and products.
- The complexity of the U.S. healthcare system can lead to administrative waste in the insurance and provider payment systems.
- The consolidation of hospitals can lead to a lack of competition or even a hospital monopoly, granting providers the opportunity to increase prices.
Save Up to 80% With Bonum Health
SingleCare is a free prescription savings service that is providing millions of consumers across America with consistently low prices to improve access and adherence to medication. This collaboration is promising to customers to be able to save customers up to 80% on their prescriptions. “SingleCare provides consistently low prices, and it can often be cheaper than a copay – so whether or not you have insurance, it’s always worth checking,” – Bonum Health published.
“The Bonum Health and SingleCare teams understand the importance of integrating and sustaining an affordable healthcare solution at pharmacy point-of-care. We are veterans in promoting quality healthcare service-driven programs at the pharmacy level and differentiate by providing transparent and affordable benefits that pharmacy partners and their patient community can trust, “- said Bonum Health President, Ashton Maaraba.
“We’re pleased to partner with Bonum Health as it allows us to expand our pharmacy distribution channels where SingleCare is offered, and help more consumers with access and adherence to affordable medication,” said John Zevzavadijan, President of Enterprise Platform Services at SingleCare.