In a time of constantly changing prices, a robust drug pipeline, and new findings about therapeutic uses, drug formulary management demands a powerful electronic solution. Only through ongoing access to timely and comprehensive data can formularies continue to fulfill their cost containment role without compromising patient safety.
That's why First DataBank created an easy-to-use drug formulary management and pricing analysis application, which we've built on the most widely respected—and widely used—drug database in the healthcare industry: our
National Drug Data File Plus (NDDF Plus).
More Timely Information Drives a More Efficient Process
Even as the entire healthcare system moves toward full electronic connectivity, many payers still build and manage their formularies using manual processes. Existing electronic solutions typically don't have automated access to timely and comprehensive information about drug alternatives within therapeutic classes.
First DataBank offers the simplest way to automate the complex and time-consuming process of manual formulary building. We facilitate drug formulary management through user-friendly access to multiple logical and robust therapeutic classification systems, and through the breadth and depth of our drug vocabulary. And we provide detailed sets of data elements for supporting informed decisions about brand versus generic status and for grouping excluded and preferred products.
Our databases and drug formulary management tools enable you to save significant costs, by:
- Reducing the amount of time and resources spent on building your formularies
- Allowing you to better maintain formularies using comprehensive therapeutic classifications, as well as pricing information, updated weekly
- Helping you rapidly share new or updated formularies within your company or with plan participants