techDaily.info :: Gold Standard Enhances OnFormulary Functionality, Expands Formularies

Friday, January 09, 2009

Gold Standard Enhances OnFormulary Functionality, Expands Formularies

Posted: 3/11/2008

Posted By:	NPC Creative Services, LLC		Contact:	Liz Roop
Phone:	813-960-5092		Email:	liz@npccs.com

TAMPA, Fla. – (March 2008) – Gold Standard Inc. has upgraded OnFormulary, its web-based formulary reference tool, with the ability to search by BIN/PCN number and has added Low-Income Subsidy formularies and new reporting for plan/drug alternatives. Pharmacists and prescribers now also have access to more than 4,500 plans, including state Medicaid and Medicare Part D formularies, encompassing more than 95 percent of insured patients.

“Managing non-formulary prescriptions is a significant challenge for pharmacies and prescribers. Tracking down alternative medications when a prescribed drug does not appear on a patient’s formulary is frustrating, time-consuming and expensive,” said Marianne Messer, Senior Vice President of Pharmacy Solutions, Gold Standard, an Elsevier company. “With more formularies and expanded search and reporting functions, OnFormulary makes it easier than ever for providers to make on-formulary drug selections, resulting in reduced costs, improved productivity and enhanced patient care and service.”

OnFormulary, which was jointly developed by Gold Standard and MedKeeper, now allows users to utilize simple drop-down navigation to search within their state by BIN/PCN or plan name. Users can drill down from a therapeutic drug class or enter a full or partial brand or generic drug name to determine tier status. The tool also provides optional filters to view only those drugs that are on a particular formulary, or to view only state Medicaid, Medicare Part D and/or Low-Income Subsidy formularies.

Other enhancements to OnFormulary include the addition of custom comparison reports for plan and/or drug alternatives. These reports allow users to quickly generate a list of plans that may offer a more favorable tier status for the drug they have entered, or view alternative drugs in the same class that may offer a better tier status in the selected plan. An auto-complete feature saves time when entering drug names so reports can be compiled more quickly. Personalization fields also allow for inclusion of a company logo and location, patient name and additional notes.

Other features available to OnFormulary subscribers include:
• Legends and notes for prior authorization and step therapy requirements, quantity limits, etc.
• Identification of look- and sound-alike drug names
• Optional subscription-based access to clinically-relevant drug information from Clinical Pharmacology, Gold Standard’s award-winning electronic drug information and medication management reference
• A standardized, comprehensive formulary data set for integration into healthcare applications such as electronic health and/or medical records

Managed care organizations may also integrate pertinent data from OnFormulary into their systems to achieve significant cost savings. Data can be licensed for usage by internal managed care staff, and/or made available on the organization’s website.

About Gold Standard
Based in Tampa, Fla., Gold Standard is a leading developer of drug information databases, software and clinical information solutions. The Company’s products are developed by a staff of highly trained professionals with extensive experience in pharmacy practice, electronic publishing and software development. Customers include more than 1,000 hospitals, the nation’s largest retail pharmacy chains and consultant pharmacy organizations, state and federal agencies, the country’s top pharmacy and medical schools, leading health information websites, and hundreds of thousands of healthcare professionals and consumers worldwide. Gold Standard’s parent company, Elsevier (www.elsevier.com), is a world-leading publisher of scientific, technical and medical information products and services with more than 7,000 employees in over 70 offices across 24 countries. To learn more about Gold Standard, visit www.goldstandard.com or call (800) 375-0943.

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