Generics help to balance specialty pharmacy costs, report statesThe increase in utilization of generic drugs is driving costs down, while the increase in specialty pharmacy utilization is driving costs up, according to the 2013 CVS Caremark annual Insights Report.
AMCP changes name of foundation, appoints new board membersThe Academy of Managed Care Pharmacy has changed the foundation’s name to the Academy of Managed Care Pharmacy Foundation. In addition, it has elected four new members to its board of trustees, during the AMCP’s 25th annual meeting and exposition in San Diego.
Enhanced support for shared decision-making reduces costs of careShared decision-making with patient and health-coach involvement saves on overall costs of care. Specifically, the technique reduces hospitalizations and surgeries, according to a study published in Health Affairs (February 2013).
Two-thirds of pharmacists believe in disclosing source of high-risk compounded sterile preparations to prescribersA majority of pharmacists and other healthcare practitioners believe that pharmacists need to disclose the source of high-risk compounded sterile preparations (CSPs) to prescribers, according to a recent survey.
Costs associated with neonatal abstinence syndrome climbsUS healthcare costs associated with neonatal abstinence syndrome (NAS) climbed from $39,400 in 2000 to $53,400 in 2009, and state Medicaid programs paid for the majority of the cases. Approximately 3.39 per 1,000 hospital births in 2009 had NAS compared with 1.20 in 2000, according to a report published online from JAMA.
ISMP warns of severe side effects with infliximab therapyThe Institute for Safe Medication Practices (ISMP) is warning about the severe side effects associated with infliximab for rheumatoid arthritis, Crohn?s disease, and other autoimmune disorders.
Use of HEOR data in formulary decision-making expected to increaseIndividuals involved in formulary decision-making processes at US health plans were surveyed to determine their current and future use of health economic and outcomes research.
Gene testing stakes a claim in the health benefits marketplaceThe application of pharmacogenomics—the science of how genetic variations influence drug response—is new to the field of health benefit management, and its potential to improve care and reduce costs is significant.
The role of pharmacoeconomics in formulary decision-makingThe role of cost- and pharmacoeconomic-related criteria in formulary decision-making was assessed in a literature review of 31 studies of hospital (n=18) and managed care (n=13) pharmacy and therapeutics (P&T) committees. In both settings, cost was important, although the elements of cost considered varied. Acquisition cost was mentioned more frequently than pharmacoeconomic or cost-effectiveness information. Other factors, including drug characteristics, quality of life, supply-related issues, and physician demand, also influenced decisions.
Economic analysis of a medication assistance program for ambulatory care patients at an urban teaching clinicObjective: Pharmacy-managed medication assistance programs (MAP) have the potential to recoup losses incurred by the pharmacy department, but whether this offsets the personnel cost of the program has not been well-established. The purpose of this study was to conduct a cost-benefit analysis of the pharmacy-managed MAP at an urban teaching clinic at Hartford Hospital in Hartford, Conn.