Steps to Savings:
Communicating Enhanced Medication Information to Physicians
Our team has the tools, resources, and experience to quickly and efficiently put in place money-saving solutions for health plans, employers, government insurance programs, ACOs, and PBMs. By leveraging existing EHR technology and infrastructure, we may be able to implement your enhancements as quickly as six weeks to reach all e-prescribers.
Here is an overview of the process we follow to save money and inform better prescription decisions.
1. Gap Analysis and Savings Opportunity
The first step is to understand the potential impact of our solutions. We perform point-of-prescribing gap analyses to identify savings opportunities. We use your recent pharmacy claims data to model savings.
Result: Assessment of savings opportunity
2. Recommendations, Plan, Timing and Cost
We then develop recommendations and an implementation plan that includes a variety of formulary enhancements and savings estimates. The budget and timeline is included in this step.
Result: A plan for implementing formulary savings
3. Implementation and Customization
Using a formulary feed from your health plan or pharmacy benefit manager, our team applies approved enhancements. These updates form the basis of your enhanced formulary communications to physicians.
You will have an opportunity to view the formulary and benefit data in our system and to manually make changes to create a formulary unique to your plan.
Result: Enhanced files that will populate out to ePrescribing physicians within weeks
4. Ongoing Monitoring and Optimization
Formulary enhancement is an iterative process that drives increased savings over time. Once enhanced formulary data has been implemented, the results can be measured and compared to projected savings. We can measure trends over time through claims analysis.
We also monitor market conditions to identify refinements that may yield additional savings.
Result: Reports documenting savings created by enhanced formulary data
Get in Touch
Contact us to learn more about how BenMedica’s solutions can help you reduce your drug spending.