Since its inception in 1989, Patient Services, Incorporated has been the pioneer leading the charge to find solutions to the challenges that face the chronically ill in the United States. PSI provides financial support and guidance for qualified patients with specific, rare and chronic diseases. Through its assistance programs, patients and their families rediscover hope and health.
A History Of Stewardship
Recently, PSI received our 12th-consecutive 4-star rating from Charity Navigator meaning we’ve taken steps towards strong financial health, accountability, & transparency. What else has PSI been doing? Here are some key points from a recent Avalere Health Analysis on our work and efforts:
- In 2017, PSI helped over 13,500 Medicare Part D patients by providing $70.9 million in cost-sharing assistance. Over the last five years, PSI has provided almost $305 million in assistance to Medicare Part D beneficiaries;
- Every $1,000 provided by PSI annually to Part D beneficiaries allows those patients to fill an average of 3.5 additional prescriptions;
- PSI assistance for Medicare Part D medications reduces spending on Medicare Part A and B, which pay for hospitalizations and visits to the doctor, among other services;
- Avalere estimated that $1 million in PSI assistance reduces spending on Part A and Part B services by $1.83 million. In 2017, this translated to nearly $130 million in total Medicare Part A and Part B savings;
- Even when accounting for higher Part D drug spending due to increased medication adherence, $1 million in PSI assistance saves the federal government close to $500,0000 across the Medicare program. This means that PSI assistance in 2017 led to $33.9 million in federal savings;
- Overall, PSI assistance for Part D beneficiaries from 2013 to 2017 saved the federal government almost $146 million;
Rare Perspectives: Leading Patients To Positive Outcomes
At PSI, the numbers will always reflect real people with real needs. Our patients are why we wake up each day and do the work we do. What we do is not just our job, it’s our passion. At Patient Services Incorporated, our aim will always be to help lead patients to positive outcomes.
“Without the Charitable Assistance Programs, I would have a higher risk of dying. I have been living with this disease for 74 years and the only quality of life that I have found is when I started receiving PSI charitable assistance and it allowed me to keep insurance and provide me with the high copays of the medicine that I require to sustain life. I would not be able to get these medications without PSI, therefore detrimental that we are able to receive copay and premium assistance.” – James, PSI Patient
“I support PSI today, because they were there for me. We fast forwarded through a lot, including the time I lost my job and couldn’t pay for my insurance. My Hemophilia treatments cost thousands of dollars each. The internal bleeding that would have occurred without treatment, could have tripled the amount I needed and left that bill on the local county hospital. I didn’t want that.
Thanks to PSI, I could maintain my coverage through COBRA. That meant my medication was taken at home, I was well enough to look for work to get back on my feet, and I was not a crippled burden to society. PSI gave me a chance to be a productive part of society instead. PSI also shifted my focus. You see, thanks to their help with my premium, I wasn’t dealing with stress bleeds, and spending my days worried about simple daily activities causing internal bleeding. Instead I was focusing on getting back to work, and raising a family with limited resources during that time.” – Felix, PSI Patient
“It has been nearly three years since I started this new treatment, plus I still need supplemental calcium, vitamin D and magnesium daily depending on my activity and stress levels. With co-pay assistance from PSI, Inc. I am able to acquire the prescription I so desperately need to prolong my life! The daily stress level is reduced because I don’t have the worry of going medically bankrupt. This contributes substantially to my daily well-being. I can concentrate on managing my medications just to get through the day the best that I can.” – Elaine, PSI Patient
“Patient Services, Inc. helps seriously ill people like me pay for my insurance premiums. Without PSI’s help, my premiums would completely devour what I earn each year. I could not afford the costs of health insurance on my income. Without health insurance, I cannot afford treatment. The disease will progress and I will die. My life depends on being able to maintain health insurance.” – Dorothy, PSI Patient
Rare Perspectives Podcast
Those living with a rare or chronic illness face challenges that can change constantly. Financial and emotional challenges are daily struggles but charities like PSI can help alleviate some of the worry. The perspectives featured in this podcast aim to bring new light to what it’s like to live with a rare disease… what it’s like to have someone to support you in a time of need… what it’s like to find hope in the darkest times.
Our goal with Rare Perspectives is to shed light on the paths that patients walk and highlight different perspectives. We hope their stories help to educate you about chronic illness.
Giving Tuesday: Your Donation Saves Lives
#GivingTuesdayNow is a new global day of giving and unity that will take place on May 5, 2020 – in addition to the regularly scheduled Dec 1, 2020 #GivingTuesday – as an emergency response to the unprecedented need caused by COVID-19.
For 30 years, we’ve helped chronically ill patients with unaffordable medical expenses. Through donating to PSI, you help patients afford the cost of their treatment and restore hope and health to their lives.
Patient Services, Inc. is a 501(c)(3) non-profit, charitable organization, EIN 54-1596178. Your contributions to Patient Services are tax-deductible.
To partner with PSI and make a difference, click here to visit our donation page. With this, we invite you to designate your donation to go towards the PSI Emergency Assistance Program to assist active PSI patients who have been impacted by COVID-19. To learn about how PSI is responding to COVID-19, click here.