Wednesday, February 22, 2012
   
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Formulary

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A note to physicians and pharmacists about our formularies - As a healthcare professional, you're committed to ensuring your patients receive the care they need to stay healthy. We would like to support your efforts by providing information that will assist you in making prescribing decisions while keeping cost and coverage in mind.

Why do we need to use formularies?

Many of our plan sponsors use formulary programs to help manage the overall cost of providing prescription drug benefits to their members while ensuring that you're able to continue to provide them with the best care. By prescribing with cost and coverage in mind, you can help make sure your patients have access to affordable prescription coverage.

Who created RxMPSS’ formularies?

These formularies are created with the help of an independent Pharmacy & Therapeutics committee made up of physicians and pharmacists to make sure that our policies are medically sound and support your patients' health. This committee reviews and evaluates each medication on RxMPSS’ formularies based on safety and efficacy and ensures choice in all therapeutic categories. RxMPSS’ formularies always encompass drugs from many different manufacturers.

What formularies does RxMPSS use?

Most of our clients have adopted one of our standard formulary programs. Please refer to the following online versions as they are continuously updated to assist you in prescribing formulary medications that could save money for your patients.

  • RxPreferred® - includes more than 1000 drugs, providing members with access to a broad range of medications.
  • Interactive Preferred Prescriptions Formulary Tool
  • Preferred Prescriptions PDF
  • RxSelect®- a more narrow range that includes more than 800 drugs. Rx Selections is designed for clients seeking a more aggressive approach to reducing drug spend while maintaining the quality of care.
  • Interactive Rx Selections Formulary Tool
  • Rx Selections PDF

Do certain plans have custom formularies?

In addition to the RxMPSS standard formularies listed above, some of our clients have adopted custom formulary programs. You may have already received a copy of your patient's formulary in the mail.

Are suggestions regarding the formulary welcome?

At RxMPSS, we encourage physicians and pharmacists to offer suggestions for changes or inclusions to the (Formulary Name here). Please send your correspondence to: RxMPSS, A Dvision of Kohlls Pharmacy and Homecare

Where can I call with formulary questions?

If you have any questions, please feel free to contact us toll free at the Physician Service Center at 1-800-438-2014

 

 

 

 

 

 

About generics

When a brand-name drug's patent protection expires, generic versions of the drug may be approved for sale. The generic version works like the brand-name drug, and is the same in quality, strength, purity and stability. Generic drugs must meet the same quality and safety standards as brand-name drugs and must be reviewed and approved by the FDA.

In recent years, a number of factors have led to double-digit growth in the cost of prescription drugs:

~ Drug Manufacturers raised prices by up to 20% prior to the anticipated health care reform in 2010.

~ The number of new brand name drugs entering the market has risen steadily.

~ Pharmaceutical manufacturers have spent billions of dollars promoting them through direct-to-consumer marketing.

~ Utilization rates have soared as an aging population has grown to rely on sophisticated - and often expensive - branded prescription medications.

~ The resulting pressure on prescription benefit sponsors has led to a quest to find less expensive, yet equally safe, alternatives. The use of generic drugs is one of them.

Fast facts on generics:

~ Generics contain the same active ingredients and meet the same strict FDA standards as their equivalent brand-name drugs.2

~ A generic drug must deliver the same amount of active ingredients into a patient's bloodstream in the same amount of time as the brand-name drug. 2

~ Brand-name firms account for an estimated 50 percent of generic drug production.

~ Generic drugs generally cost 30% to 60% less.

References

~ FDA/CDER. Food and Drug Administration Web site

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