THE SHARx DIFFERENCE
Are you familiar with the phrase “guilty by association”?
Big Pharma is at it again. They have collectively released their minions to concoct a new moniker: Alternate Funding Programs (AFPs).
According to several articles found on the internet, SHARx finds itself lumped into a category that is based on a fictious representation of our business model and mission. On numerous occasions, we have been referred to as an alternative funding program (AFPs) by profit-centered people painting a broad stroke across loosely connected parties in an effort to keep the American public paying 256% more in prescription costs than the rest of the world. I am setting the record straight.
AFPs profit on the problem by charging a percentage of the manufacturer’s retail cost, falsely aiding those whose plan still covers the drug. They also rely exclusively on manufacturer programs such as patient assistance programs (PAPs) whereby the manufacturer providers a medication at no or low cost to a patient that meets the criteria of the program. PAPs are one of the many resources available to people, but only if they do not have insurance coverage for their medication. While SHARx helps those without coverage find ways to procure their medication, which sometimes includes PAPs (if the individual meets their criteria), we evaluate all available options to ensure our members have affordable access to the medications they need, without delay.
Profitability vs. Purpose
A common business model for the AFPs is to share in the success of getting a medication provided by or funded by a manufacturer program via a percentage of savings. They make more money when the drug costs more (profit on the problem). They only get paid when a member uses their service, creating a misaligned incentive to only work on the most expensive medications.
On the contrary, SHARx has a materially different business model. We offer a predictable, flat fee option that remains the same regardless of which medications we assist with. Consequently, we are not incentivized to rely on any particular sourcing option, and our clients do not pay more when another one of their employees (who lacks coverage) needs a high-cost drug. Our entire team understands the importance of what the member needs because SHARx was founded to help solve an issue that I personally experience. My own children live with a rare condition that requires expensive medications approaching $2,000,000 per year.
SHARx is a supply-chain management and procurement solution helping employers honor their fiduciary duty to the plan, while also ethically providing a liaison for their underinsured employee. Conversely, AFPs rely on a specific tactic of manufacturer assistance and sometimes by tricking the system. Their entire business model is founded on navigating the confusing system of manufacturer coupons and patient assistance programs, while taking a cut of the profit at the same time.
SHARx is an ethical sourcing entity that utilizes a plethora of tools, channels, and avenues to ensure affordable access to medications, outside the confines of insurance, while the member is being guided by experienced, knowledgeable advocates. SHARx fervently advocates for members because we are all stuck in a system that was never built for the patients who need the medications or employers who are funding the bill.
Setting A Higher Standard
With the right guidance, there are many channels that people can tap into to get affordable access to their medications. While there may be companies in the market that offer services meeting the definition of an AFP, this term disparages SHARx, sought to make us guilty by association, and does not remotely portray who we fight for, the extent of our capabilities, and the importance of our mission.