Price Rx for Payers

Pharmaceutical costs are increasing. Your competition has better and better ways to keep informed. New forces are changing the market, making your world more competitive. Turn to the leading provider of drug data to help you meet your goals and find success. While other tools may promise, Price Rx delivers:

Uses

Current drug pricing information is critical to staying apprised of price changes and current market conditions. Price Rx® is essential for multiple functions:

  • Formulary Management
  • Price Tracking, Analysis, and Forecasting
  • Therapy Cost Comparisons
  • Monitoring New Drug Products

Technology

The tool possesses enhanced technology for greater user efficiency:

  • Online access to drug information at anytime and any place
  • Automated daily e-mail alerts notifying users of the latest data updates
  • Comprehensive help function embedded in the tool

Data

The product delivers current, comprehensive, reliable pricing and product data:

  • More than 400,000 products with active and inactive data
  • Current and comprehensive historical prices based on AWP, ASP, DP, CMS FUL, NADAC and WAC
  • Additional government pricing data points of Federal Supply Schedule (FSS) and Big 4
  • Medi-Span's proprietary Average Average Wholesale Price (AAWP), Generic Equivalent Average Price (GEAP), Average WAC (AWAC), and Generic Equivalent WAC (GEWAC)
  • Payment Allowance Limit for Medicare Part B drugs
  • Clinical-dosing information to calculate daily therapy costs
  • Drug Application Type data elements include NDA, ANDA, and BLA indicators
  • Medi-Span's proprietary Brand Probability data to assist with brand/generic determinations

Capabilities

Key product functions include powerful search, alerts and reporting and analytic capabilities:

  • Search by manufacturer, NDC, UPC, HRI, trade and generic name and by Medi-Span's generic product identifier (GPI) therapeutic classification system
  • Customize reports to accurately and effectively analyze drug cost information
  • Analyze therapy cost changes over user-specified time intervals at various therapeutic classification system levels
  • Create multiple e-mail alerts to inform users of recent price and drug data changes
  • Dedicated customer support allows users to seek personalized assistance for individual needs

Tools

The program offers several tools for formulary creation:

  • Easily construct multiple formulary lists using over 30 product and pricing criteria including therapeutic class, orange book codes, Drug Application Type, pricing thresholds, multi-source codes and packaging attributes
  • Generate formulary lists by importing existing NDC and GPI lists from external files
  • Import and compare custom pricing and dosing data for use in reports

For Managed Care Organizations and Pharmacy Benefit Managers, market intelligence on drug products, costs and therapeutic alternatives is essential to remaining competitive. Keeping apprised of rapidly changing drug data and price information can be daunting. To help meet end goals of delivering the best value to customers and the highest possible return for stakeholders, you need a powerful drug pricing and information tool. Price Rx is a Web-based drug price reference and analytical application intended to meet the demanding drug pricing information needs of Pharmacy Benefit Managers and Managed Care Organizations.

Versions

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