Predictive Analytics based Financial Assistance Model for Chronic Care Patients in India

Abstract

Indian pharmaceutical industry (IPI) has traversed through many phases and it is in emerging phase now (2019). IPI is looking for innovation, creativity, newness in patient connect to perform different activities to achieve their stated goals. According to a recent World Health Organization report, approximately 50% of the people with chronic illness do not take their medication as prescribed [1]. Medication Non-Adherence is a huge problem across the world. Pharmaceutical companies across the world manufacture medicines with set of standard operating procedures, guidelines, quality execution systems, inspection and verification from quality control and quality assurance activities. The very intention of producing medicines is to sell them to the patients who are in need. The last thing Pharmaceutical companies expects from Health Care Professional (HCP) is to write the prescription and patient carrying it to Pharmacy to buy the medicine. The medicines for chronic illness are expensive in general. Despite having the prescriptions for medicines, there are plethora of reasons for Patient not to buy them. One of the most remarkable reason is – ‘the medicine costs are exorbitant’. If the medicines are not taken in case of the chronic illness, the patient’s quality of life degrades over a period of time, eventually resulting to fatality. This is a known concern to Pharmaceutical companies and new methods are invented to address the need for supporting the Patient at difficult times. This paper made an attempt to introduce predictive analytics based financial assistance model for chronic care patients in India.