Policy Reporter Launches New Formulary Viewer Solution
Unparalleled policy insights, coupled with formulary data, change the data vendor landscape.
Policy Reporter has announced significant enhancements to its Formulary Viewer solution, which allows life science clients to utilize a single tool to scour a comprehensive database of drug formularies in real time. This streamlined user interface eliminates the need to search for and monitor formularies manually. With a simple query, subscribers can now instantly view current tier placements or formulary restrictions like step edits or prior authorizations associated with their products and competitors in a simple tabular or dashboard view.
Pharmaceutical and medical policies are complex, unstructured documents that can be challenging to capture and navigate. Policy Reporter, acquired by TrialCard in November 2019, expertly automates the necessary, but often frustrating, act of staying abreast of policy changes across the payer population. By empowering its clients with ease of access to the latest relevant policy and coverage information, Policy Reporter maximizes patient access to industry-leading healthcare products and services. Simply put, Policy Reporter improves the way industry stakeholders receive, process, and respond to healthcare policy developments.
According to the 2020 MagellanRx Pharmacy Trend Report, specialty pharmaceuticals are prescribed to only 30% of patients, but account for a whopping 96% of drug spending in commercial plans. As a result, payers are aggressively managing this soaring trend in pharma costs. For pharmaceutical manufacturers, knowing which managed care plans cover your product (and your competitors’ products), how they are covered, and what utilization management is applied to curb their use, is critical.
This is where Formulary Viewer excels. Policy Reporter has advanced the capabilities of this groundbreaking market intelligence tool to allow subscribers to experience new levels of data granularity. Using Formulary Viewer’s intuitive user interface and dashboards, queries are processed to provide specific results with geographic filters that yield output that captures formulary tiering, without a limit on number of plans per query.
“Staying abreast of pharmaceutical formulary coverage is more important than ever for life science decision makers,” said Scott Dulitz, TrialCard’s Chief Executive Officer. “Policy Reporter’s experienced team of experts has a deep understanding of this complex payer landscape and has delivered a real game changer for our clients with a revamped Formulary Viewer.”
“Formulary Viewer allows our subscribers to see the big picture impact of restrictions by product, controller, and plan type,” added Tim Ogren, General Manager of Policy Reporter. “This, combined with the ability to dive deeper and view specific formulary restrictions in tabular form, provides an informative, thorough understanding of a product’s formulary placement.”
About Policy Reporter
Policy Reporter provides innovative healthcare software solutions to track payer policies in near real time and enhances market access for the therapies patients need most. The company’s patented software-driven solutions include a suite of billing and reimbursement tools for providers and laboratories, market intelligence tools for payers, and a suite of market access solutions for life science companies. Its clients include some of the world’s largest pharmaceutical and healthcare companies. For more information or a free demo, please visit https://www.policyreporter.com.
TrialCard Incorporated is a full-service life sciences commercialization company that provides comprehensive solutions that span the entire biopharmaceutical value chain. In addition to a foundation of fully integrated, digitally enabled patient support services, its broader offerings include everything from late-stage clinical trial supply management to post-marketing HCP engagement services and proprietary data-as-a-service payer intelligence and insights. Founded in 2000, TrialCard provides commercialization support for more than 400 life science customers and has connected over 36 million patients with more than $22 billion in branded drug savings to date. The company is headquartered in Morrisville, North Carolina. For more information about TrialCard, please visit www.trialcard.com.