Today Kalderos released its 2022 annual report, which takes readers on a deep dive into the destructive knowledge gaps that add to the stubborn challenge of high drug prices in America.
Titled "Conquering the Great Unknown," the report spotlights the most pressing questions and concerns for drug discount program stakeholders and presents a hopeful vision of a future rooted in collaboration and technology. It offers the unique perspective Kalderos has on the current state of drug discount programs within the U.S. healthcare system, drawing upon collaborative relationships, subject matter expertise and volumes of data.
In his introductory letter for the report, Kalderos CEO Brent Dover offered insight into the high stakes of the moment —
It has become increasingly clear that nobody, not even the experts, can offer up a definitive fix for the country's prescription drug affordability crisis. In order to truly address it, there is an urgent need to learn more about what is obstructing us from finding a solution. "
<span class="quote-author">Brent Dover</span>
<span class="quote-title">CEO, Kalderos</span>
Building on many hours of interviews, analysis and data interpretation, the report takes a close look at the deficiencies in data and technology that create pain points throughout the system. It shows key challenges and outlines solutions that would allow drug discount programs to work as intended so that everyone can focus on the health of people.
Exploring the "Great Unknown" of drug discount noncompliance
Stakeholders—encompassing patients, manufacturers, providers and state Medicaid agencies—all experience pain points caused by a systemic drought of actionable data.
The report raises timely questions related to the data gaps, such as:
- Why do patients face wildly differing prices for the same prescription drugs?
- Why is there a growing gulf between a drug's list price and net price?
- How pervasive are the noncompliant drug discounts that create waste and confusion throughout the system?
- How many states are paying shockingly high commission fees to middlemen on the backs of taxpayers?
These concerns drive towards a more existential dilemma for the healthcare system: if top scholars and industry experts don't have all the data they need to accurately analyze the true drivers of rising drug costs, or to agree on what they find – then how can policymakers begin to address the issue?
A solution that leverages AI and ubiquitous data
The Kalderos 2022 annual report is able to bring more clarity to some of the most concerning gaps with compelling proprietary data insights. By working directly with drug discount stakeholders using tech-enabled, machine-learning methods, Kalderos has been able to reach a specialized understanding into the approximate extent of noncompliant discounts.
The lack of comprehensive industry data makes it tough to say the true scale of duplicate discounts, but our findings in "Conquering the Great Unknown" offer a critical starting point to begin to address this and other systemic problems.
Game-changing technology and a collaborative approach from Kalderos point the way to greater program transparency and more widespread tech adoption that will allow critical drug discount programs to operate with greater efficiency and less wasted time and resources from key stakeholders.
Sightlines to a brighter future
This report comes at a milestone moment for Kalderos. Brent Dover was announced as CEO in early 2022, bringing an incredible amount of experience in leading emerging companies. Kalderos founder, board member and former CEO Jeremy Docken now occupies the role of Chief Strategy Officer, putting increased focus on driving Kalderos' innovation of market-leading solutions.
In the year since our last annual report, Kalderos has doubled our customer count and tripled sales. For the past two years Kalderos has maintained 100% customer retention and in 2021 Kalderos was able to identify more noncompliance in one year than in the previous four years combined. These successes come from a company dedicated to connecting stakeholders, streamlining communication and leveraging platform technology to ensure drug discount programs are working as intended.
From its founding in 2016, Kalderos has been devoted to eliminating waste and improving efficiency for all prescription drug stakeholders so they can spend more time improving patients' lives. With the 2022 annual report, Kalderos is able to show the world how a tech-enabled approach can actively achieve these goals.
The insights in the report offer a valuable stepping stone of clarity into the many questions spawned by the data gaps of the "Great Unknown." While a future of widespread transparency and collaboration to support drug discount programs may seem far away, the Kalderos annual report shows that it is more attainable now than it has ever been.