Achieving Pharmacy Benefit Savings Today Before Real-Time Tools Arrive

Achieving Pharmacy Benefit Savings Today Before Real-Time Tools Arrive

Employers and health plans are missing significant prescription savings opportunities available today through improved formulary and benefit data.  Enhancing patient benefit data leads to better information at the point of prescribing, improves drug cost management, and creates savings now for both payers and patients.

Generating Savings for Patients and Payers through Improved Generic Prescribing

Generating Savings for Patients and Payers through Improved Generic Prescribing

Providing actionable information on generics options to physicians using Formulary and Benefit (F&B) data creates significant savings for payers, employers, and consumers.

Physicians have been conditioned to prescribe generics as part of first-line therapies to save patients money and eliminate callbacks requesting prescription changes. But, not all generic prescribing is equal.

Specialty Medications & Medical Benefit Drugs: The Value of Providing Physicians with Actionable Information at the Point-of-Prescribing

Specialty Medications & Medical Benefit Drugs: The Value of Providing Physicians with Actionable Information at the Point-of-Prescribing

Prescribing cost-effective specialty medications including those covered under a medical benefit requires physicians to have access to drug-specific information on plan coverage and restrictions. Currently, many physicians can only see that a medical benefit drug is not covered as part of the pharmacy benefit with no additional information.

3 Actions Health Plans Can Take Now to Improve Physician Prescribing and Lower Drug Costs

3 Actions Health Plans Can Take Now to Improve Physician Prescribing and Lower Drug Costs

Health plans who do not provide optimal Formulary and Benefit (F&B) information to prescribers through Electronic Health Records (EHRs) are missing a significant opportunity to lower medication costs and increase patient adherence to treatment.

BenMedica’s Response to CMS’ Proposal to Lower Drug Prices and Reduce Out-of-Pocket Expenses

BenMedica’s Response to CMS’ Proposal to Lower Drug Prices and Reduce Out-of-Pocket Expenses

The CMS’ proposed rule requires Part D sponsors to integrate a real-time benefit tool (RTBT) within an electronic medical record (EMRs).

This proposed rule overlooks the option of offering enhanced Formulary and Benefit (F&B) as a solution for prescriber access to more complete drug benefit information.

Updates to the Formulary & Benefit Standard Create Changes for the Next Decade

Updates to the Formulary & Benefit Standard Create Changes for the Next Decade

Formulary and Benefit (F&B) data is central to providing prescribers using Electronic Health Record systems (EHRs) information from payers on drug coverage and formulary preferences. The National Council for Prescription Drug Programs (NCPDP) determines the standard, called Formulary & Benefit Standard, for exchanging the information electronically.

Indication-Based Formularies: A New Tool in Drug Cost Management

Indication-Based Formularies: A New Tool in Drug Cost Management

A recent announcement from the Centers for Medicare & Medicaid (CMS) has opened the door for Medicare Part D plans to use indication-based formularies beginning in 2020. This policy expansion provides a new tool for Part D plans to leverage costs and communicate formulary status to better inform prescribers and patients while solidifying what commercial payers may have been doing all along by using Prior Authorization (PA).

Physician Insights into Real-Time Pharmacy Benefit Information

Physician Insights into Real-Time Pharmacy Benefit Information

Recently BenMedica hosted a roundtable of physicians to share their perspectives on EHR formulary data. We were particularly interested in obtaining feedback on formulary data as it appears in EHRs (discussed in this article) and the value of real-time pharmacy benefit information in the EHR. 

The following are the key takeaways from the roundtable regarding the new real-time pharmacy benefit information that will be appearing in EHR systems.