Formulary and Benefit Standards Version 60: What You Need to Know
Improvements to Formulary Data on the Horizon
Exciting changes are coming to NCPDP's Formulary and Benefit Standard (F&B), and we are reviewing the changes here. This update to the existing standard responds to market events like indication-based formulary designs, clearer formulary statuses and price transparency. The new standard incorporates feedback by payers and EHRs (electronic healthcare record vendors) from their use of the current standard named by CMS in 2012.
The Missing Gap to Drug Savings: Physician Understanding of Formulary and Benefit Information within EHRs
How Health Benefit Consultants Can Save Employers $88 Per Member Per Year on Prescription Costs
Health benefit consultants can help their clients save up to $88 per member per year on prescription spending by sending actionable drug data to doctors. By partnering with BenMedica, consultants can reduce their employers’ and members’ Rx costs, increase medication adherence, and improve patient outcomes.
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
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
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.
