Improving Pharmaceutical Reporting

Tracking drug utilization is a vital component of modern-day healthcare, as the research and reporting can better determine which prescriptions are optimal for a variety of situations. These efforts have been in existence for approximately 40 years and can effectively generate more positive patient outcomes. With recent strides being made in healthcare IT, drug utilization and pharmaceutical reporting is set up to be at its most efficient level of operation in decades.

While the future of streamlined utilization is bright, there are a number of obstacles to consider. Arguably the largest challenge lies within pharmaceutical reporting for different types of healthcare – commercial, Medicare and Medicaid. As a pharmacy benefits manager (PBM), you are responsible for governing the medication aspects of a patient’s membership and, without detailed reporting, your operation may fall backwards.

When looking to improve your pharmaceutical reporting, here are a few key points to consider:

• Split up your lines of business – With so many differing factors to consider, it’s important to review prospective, concurrent and retrospective drug utilization reviews for all types of healthcare groups and members. By doing so, you’ll be able to better determine the kind of prescriptions that are best suited for all members including larger employers, Medicare recipients, specific symptom holders, and more.
• Work with physicians – The key to maximizing drug utilization reviews is gathering as much data as possible, meaning PBMs must work closely with their physicians. When doctors prescribe drugs, getting that information along with care management reports can help identify patients who might be at risk or who need adherence support.
• Review drug market share – When administering prescriptions, it’s important to consider cost variables for drug types. By reviewing the market share of generic and brand name drugs by class, patient condition and prescriber, you can better the chances of positive patient outcomes.

Healthcare IT advancements have resulted in some of the most robust drug utilization reviews and pharmaceutical reporting to date, but not all methods are equal. RxEOB understands the right tactics needed to optimize review and reporting through its offering of flexible, proprietary products. To find out more, contact us today.