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)... June 24, 2016  Consumers have taken a ... have placed more emphasis on patient outcomes. ... programs in the pharmaceutical industry have evolved beyond ... pharmaceutical companies are focusing on becoming more patient-oriented ... products and services that improve health. ...
(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)... June 24, 2016 According to ... Type (Standard Pen Needles, Safety Pen Needles), Needle Length ... Growth Hormone), Mode of Purchase (Retail, Non-Retail) - Trends ... report studies the market for the forecast period of ... USD 2.81 Billion by 2021 from USD 1.65 Billion ...
Breaking Medicine Technology:
(Date:6/26/2016)... Creek, Michigan (PRWEB) , ... June 26, 2016 , ... ... joined as sponsor of the 2016 Cereal Festival and World’s Longest Breakfast Table in ... in honor of the city’s history as home to some of the world’s leading ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs ... College of Mohs Surgery and to Dr. Russell Peckham for medical and surgical dermatology. ... treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. ...
(Date:6/25/2016)... ... 2016 , ... First Choice Emergency Room , the largest network of ... Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased to ... said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary ... Work award to iHire in recognition of their exemplary accomplishments in worksite health promotion. ... Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire ...
Breaking Medicine News(10 mins):