Decline in Pharmaceutical Sales in The Cape Coral, Fla. Market Due to High Uninsurance Rates and Generic Utilization Will Be Offset by the Establishment of High-Risk Pool and ...
NASHVILLE, Tenn., Nov. 4, 2010 /PRNewswire/ -- HealthLeaders-InterStudy, a leading provider of managed care market intelligence, reports that while the Cape Coral, Fla. market will face a decline in pharmaceutical sales due to rising uninsurance and increased generic utilization, the development of the high-risk pool and medical homes will help offset that decline. According to the recent Cape Coral Market Overview, the uninsurance rate in the Cape Coral area is well above both the state and national rate.
The report finds that the newly established high-risk pool for the uninsured in Florida is expected to draw between 15,000 and 35,000 residents statewide who have multiple chronic conditions and will use an estimated $145.8 million in prescription drugs by 2013. Drug usage will be focused on treating diabetes, hypertension, chronic obstructive pulmonary disease and congestive heart failure. In addition, the report also finds that medical home initiatives, such as Blue Cross and Blue Shield of Florida's pilot program, could create opportunities for pharmaceutical sales as prescription drug adherence is emphasized for patients with chronic conditions. Meanwhile, increased Medicaid enrollment could help decrease the uninsured rate.
"The Cape Coral market is facing some daunting changes," says HealthLeaders-InterStudy Market Analyst Chris Clancy. "The effects of the joblessness and increased generic utilization continue to be a drag on pharmaceutical sales. However, some effects of healthcare reform, such as the establishment of the high-risk pool, and the development of medical homes will help counterbalance those declining sales."
In addition to providing detailed analysis of how the uninsurance rates affect the Cape Coral market, the Cape Coral Market Overview provides local-level insights about:Health system leader Lee Memorial Health System's partnership with Massachusetts General Hospital Cancer Center