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With the aim of meeting a decisive moment in America’s drug pricing space, today Kalderos released its 2023 annual report — Mission Critical: Bringing drug discount stakeholders together so patients win.
The report spotlights the mounting tensions among key drug discount players, providing context on each stakeholder’s systemic challenges and offering an innovative and equitable game plan for collaboration. It outlines how equal consideration of all sides can put patients at the center of a system that delivers for them.
In his introductory letter for the report, Kalderos CEO Brent Dover shared the importance of bringing everyone to the table:
Our report spotlights how all of us in this space can provide stakeholders with the understanding and technological support they need to overcome systemic obstacles. It explores solutions that allow the interests of every side to be served while ensuring that the stakeholder we all answer to — the patient — is prioritized.
Kalderos’ focused and collaborative work on the drug pricing system’s data problems has allowed this report to show unique insight into the scope of its challenges, as well as the opportunities for change.
Why this moment is “Mission Critical” for stakeholders
The players in this space — particularly covered entities, manufacturers, state Medicaid agencies and patients — are all operating to the best of their ability in a fragmented and complex drug discount framework. Years of misaligned incentives and outdated technology have pushed all sides to a perilous moment.
This report examines the high stakes for the system’s players, including:
- How out-of-pocket drug costs remain a heavy burden for many Americans.
- The challenge of dramatically expanding discount programs, with more complexities added by federal legislation like the Inflation Reduction Act.
- The operational burdens and financial impact of inaccurately paid discounts caused by discount program growth.
While these issues affect all stakeholders in different ways, the greatest hardships can ultimately fall upon patients.
An audacious plan for collaboration
Our report reveals that any approach that seeks to strengthen drug discount programs so they function as intended must take on challenges such as outmoded technology, fractured trust among stakeholders and the entrenched investments that support the status quo.
The report introduces a thoughtful and ambitious game plan for success that meets each obstacle head-on. The plan is centered on using groundbreaking technology and building trust among stakeholders, with clear and specific proof points of success from the work being done at Kalderos.
In the past year, Kalderos has made robust investments in all our stakeholder groups — developing technological resources and building our customer success teams to support and engage with all our partners. The result is that this annual report offers our most comprehensive view yet of this complex space, exploring how each stakeholder is affected by systemic issues and how all the players would benefit from a more collaborative future.
Getting all sides to “the Big Win”
Amid the challenges and concerns that make up this fractious moment, our 2023 annual report offers a view to a world where the drug discount system works as seamlessly as intended — a vision of the future we define as “the Big Win.”
The Big Win is a prize that benefits all stakeholders in the system by empowering them to operate in an environment of transparency and trust.
What does this future look like in practice?
- Data gap challenges are alleviated by a collaborative platform that gives all stakeholders access to the same set of validated claims data.
- The dysfunction created by information asymmetry is replaced by a common, shared understanding.
- The burden of time-exhaustive processes is lifted from every stakeholder, allowing them to focus on their central missions — to better serve patients.
This collaborative future is more than just an idealistic forecast: It reflects the real-world work that Kalderos has been doing since our founding in 2016. In that time, we have involved every stakeholder to provide insight into the true scale of duplicate discounts — out of 842,637 Medicaid claims reviewed, Kalderos’ covered entity network verified more than $110 million in duplicate discounts.
Our 2023 annual report gives deeper insight into the remarkable achievements in technology and stakeholder collaboration that have been made so far.
The progress of this inclusive approach is evident in Kalderos’ impressive growth in 2022:
- Annual revenue more than doubled for the second consecutive year.
- Total customers also doubled for the second straight year.
- The number of employees at Kalderos grew by more than 50%.
These successes make up the foundation of the report: that a technology-fueled transformation can improve collaboration and benefit all the system’s stakeholders — especially patients.
<span class="blog-button">Read the report now</span>
