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.

Automating Alternatives Across a Formulary

Automating Alternatives Across a Formulary

Formulary and Benefit (F&B) data and Real-Time Pharmacy Benefit inquiries (RTPB) are a powerful combination that health plans and other payers can use to communicate preferred alternatives to prescribers through electronic health records (EHRs).

Providing Real-Time Pharmacy Benefit Information is Adding to the Physician Burden

Providing Real-Time Pharmacy Benefit Information is Adding to the Physician Burden

A notable statistic emerged during a United Healthcare presentation at AMCP this past April regarding their PreCheck MyScript pilot:

22% Of Prescription Decisions Were Influenced By Real-Time Information

This occurred in the first 120 days of the service being active and included more than 1 million prescriptions. That’s at least 220,000 prescriptions that needed to be edited and the work fell to providers.

Physician Insights into EHR Formulary Information Use

Physician Insights into EHR Formulary Information Use

Recently we hosted a roundtable of physicians to share their perspectives on EHR formulary data. Our goal was to get a clear picture of how physicians use EHR formulary information when making prescription decisions. We were struck by the consistent responses physicians across specialties shared regarding what was helpful and the challenges they faced.

Providing Total Drug Cost Data to Prescribers Easily

Providing Total Drug Cost Data to Prescribers Easily

Health plans that include approximate drug costs in cost-of-care-based calculations for prescriber payments or incentive payments need an effective way to communicate drug costs to prescribers in existing workflows. Delivering drug cost information in health plan formulary and benefit data through the prescriber’s Electronic Health Record (EHR) during a patient encounter capitalizes on existing technology, streamlines prescriber access to health plan information, and increases transparency.

Effective Use of Drug Alternatives to Improve Formulary Compliance and Reduce Drug Costs

Effective Use of Drug Alternatives to Improve Formulary Compliance and Reduce Drug Costs

While health plans invest time and effort in negotiating contracts with pharmaceutical companies to improve affordability, they are missing the opportunity to increase the use of preferred alternative drugs. Formulary and Benefit data appears in the Electronic Health Record (EHR) at the time of prescribing and informs the prescriber about a drug’s formulary status. Often, this data does not indicate the plan’s preferred alternative drugs, leaving prescribers to use EHR generated results that are often too broad or even clinically inaccurate. This process is inefficient, wastes prescriber time, and does not maximize the use of preferred alternative drugs.

Better Together: Comparing Real-Time Pharmacy Benefit Checks to Formulary and Benefit Data in EHRs

Better Together: Comparing Real-Time Pharmacy Benefit Checks to Formulary and Benefit Data in EHRs

While real-time pharmacy benefit checks are increasingly touted as the answer to formulary needs within Electronic Health Record systems (EHRs), prescribers and patients often require additional information to develop effective treatment plans. High-quality formulary and benefit data in the EHR can provide complete prescribing information without impacting provider workflow. Formulary and benefit data provides more detail than a single product real-time inquiry by offering comparative data across all products in a therapeutic area.

Copay at the Time of Prescribing: Is it Time?

Copay at the Time of Prescribing: Is it Time?

Payers can use existing formulary data and EHR capabilities to satisfy physician and patient demand for timely copay information today. Upgrading formulary data to include better information enables physicians to make treatment decisions that patients can afford and are more likely to follow. Developing a plan for providing the right formulary and copay information is clear-cut and provides a long-term return on investment by boosting preferred prescription and pharmacy utilization rates.