What does Preparation H actually do? Using Preparation H Ointment relieves both internal and external hemorrhoidal symptoms. It is effective at shrinking swollen hemorrhoidal tissues and gives prompt soothing relief from painful burning, itching and discomfort. Ingredients Active ingredient: yeast as a live cell derivative (Bio-Dyne: Skin Respiratory Factor) 1.0%. Non-medicinal ingredients: beeswax, chlorhexidine gluconate, fragrance, lanolin, mineral oil, paraffin wax, petrolatum, water. Directions Adults: Apply Preparation H freely morning and night and after each bowel movement. Lubricate the applicator before each application and thoroughly cleanse after use.