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…
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.
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
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…
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…
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…
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…
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…