Navigation Links
Digital Resources Play Critical Role in Formulary Decision Making
Date:7/14/2014

BURLINGTON, Mass., July 14, 2014 /PRNewswire/ -- A new Manhattan Research study, Taking the Pulse ® Formulary Decision Makers 2014, finds that members of pharmacy and therapeutics (P&T) committees for hospitals, managed care organizations (MCOs) and pharmacy benefits managers (PBMs) are shifting the channels they use to gather information.  A majority of formulary decision makers report that they are relying more on digital resources during the formulary decision making process today than a year ago. This may present an opportunity for pharmaceutical companies struggling with market access constraints, including restricted rep access, prior authorizations and unfavorable formulary placement.

Key findings from the Taking the Pulse® Formulary Decision Makers 2014 study include:

  • Substantial numbers of P&T committee members "strongly agreed" that they are using digital resources in that capacity more than they were a year ago, including 43 percent of hospital P&T committee members, 34 percent of those from MCOs and 58 percent of those at PBMs.
  • Nearly seven in ten (69 percent) hospital P&T committee members agreed that websites and apps provided by pharmaceutical companies are essential to fulfilling their committee responsibilities, as did 53 percent of P&T committee members at PBMs and 43 percent of those at MCOs.
  • Search is P&T committee members' primary means of finding information for formulary decisions, with more than 4 in 5 using search engines for committee work weekly or more often.

Comments from Decision Resources Group Analysts:

  • "Digital resources are now a central channel used in formulary decision making within hospitals, managed care organizations and PBMs," said Monique Levy, VP of Research. "Payer marketing teams charged with influencing these customers can't afford to drag their feet when it comes to digital investment. Formulary decision makers are online daily and expect pharma to show up."
  • "Most P&T committee members use multiple pharma resources for committee work," adds Healthcare Analyst Sonu Kori, "but the influence of payer-specific portals on formulary decisions is relatively lackluster and a channel most companies need to boost investment in."

Additional Information

  • "Are payer portals worth it for pharmas?"  has just been posted on the Manhattan Research Health and Pharma Insight blog. Click here to view.

About Taking the Pulse ® Formulary Decision Makers
Taking the Pulse® Formulary Decision Makers is a Manhattan Research study designed to address the unique challenges faced by marketers targeting formulary decision makers (P&T committee members) in payer organizations, PBMs and large hospitals. The study explores the formulary and pre-authorization decision making process, as well as how formulary decision makers use the Internet, key digital information sources and other pharma-provided services and tools. Insights are based on an in-depth survey fielded online among 214 P&T committee members from an MCO, PBM or medium to large hospital in March/April 2014.

Key topics addressed in the research include:

  • General Technology Profile
  • Sources & Types of Information Used in Formulary Decision Making Process
  • Healthcare Value-Added Services
  • Internet Use for P&T Committee Work
  • Interacting with Pharma
  • Communication of Medical Information and Committee Decisions
  • New Healthcare Models
  • Social Networking, Search and Video

For more information, click here.

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Decision Resources Group's Manhattan Research product line offers insights and analysis on digital health trends among healthcare professionals and consumers in the Americas, Europe and Asia-Pacific. Find out more at www.manhattanresearch.com and www.DecisionResourcesGroup.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Decision Resources Group
Christopher Comfort
781-993-2597
ccomfort@dresourcesgroup.com

Logo - http://photos.prnewswire.com/prnh/20130103/MM36768LOGO


'/>"/>
SOURCE Decision Resources Group
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. New Eyeglass Lens Helps Our Eyes Keep Up with our Digital Lives
2. 2013 Report on the International Digital X-Ray Market - Includes Forecast to 2018
3. Digital Radiography - Global Strategic Business Report
4. Varian Medical Systems Exhibits New Lightweight Wireless Flat-Panel Digital X-ray Image Detector for Imaging Extremities and for Neonatal Procedures
5. Varian Medical Systems Exhibits New Flat-Panel Digital X-ray Image Detectors Designed for High Energy Industrial and Security Applications
6. Life Technologies Awards Digital PCR Innovation Grants to Five Research Labs
7. Ventana and EMC join forces to take digital pathology into the world of Big Data
8. Hamilton Regional Laboratory Medicine Program Announces Decision to Acquire COPANs WASPLab, the Next Generation Full Laboratory Automation and Digital Bacteriology System
9. Ann Arbor Digital Devices debuts the first ever digital motion x-ray image capturing device for conventional medical x-ray installations
10. Physicians Practice Wins Multiple Awards for Digital and Print Excellence
11. Ventana and Barco revolutionize digital pathology viewing experience
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016  Collagen Matrix, Inc., ("Collagen Matrix") the ... of collagen and mineral based medical devices for ... Bill Messer has joined the company as ... the growing portfolio of oral surgery, neurosurgery, orthopaedic ... joins the Collagen Matrix executive team as an ...
(Date:6/24/2016)... June 24, 2016 Research ... "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural Health ... Structural electronics involves electronic and/or electrical ... structures, replacing dumb structures such as vehicle bodies ...
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
Breaking Medicine Technology:
(Date:6/26/2016)... Michigan (PRWEB) , ... June 26, 2016 , ... ... to fertility once they have been diagnosed with endometriosis. These women need a ... they also require a comprehensive approach that can help for preservation of fertility ...
(Date:6/25/2016)... ... , ... The temporary closing of Bruton Memorial Library on June 21 due to a possible ... often overlooked aspect of head lice: the parasite’s ability to live away from a human ... but a necessary one in the event that lice have simply gotten out of control. ...
(Date:6/25/2016)... Beach, CA (PRWEB) , ... June 25, 2016 , ... ... UCLA with Magna Cum Laude and his M.D from the David Geffen School of ... Diego and returned to Los Angeles to complete his fellowship in hematology/oncology at the ...
(Date:6/25/2016)... ... , ... Conventional wisdom preaches the benefits of moderation, whether it’s a matter ... bar too high can result in disappointment, perhaps even self-loathing. However, those who set ... , Research from PsychTests.com reveals that behind the tendency to set low ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... June 19, ... the dangers associated with chronic pain and the benefits of holistic treatments, Serenity ... who are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a ...
Breaking Medicine News(10 mins):