The case for a value-based formulary: striving for total lowest net cost.
A value-based formulary, supported by a full-disclosure financial model, ensures the use of the most appropriate drugs at the lowest net cost. It is a complex process that requires a high level of ongoing due diligence by the Pharmacy & Therapeutics Committee responsible for managing an organization's formularies. Choosing the appropriate drugs for a formulary goes beyond safety, efficacy, and pricing. These are important factors, but determining the appropriateness of a drug also involves demographic considerations, compliance probabilities, and a comparison of desired medical outcomes.
Weart
Wayne
W
Health Trans, LLC, Denver, USA. weartcw@musc.edu
Bauman
Gary R
GR
D003362:Cost-Benefit Analysis; D003659:Decision Making, Organizational; D019468:Disease Management; D016527:Drug Costs; D004347:Drug Interactions; D019317:Evidence-Based Medicine; D005569:Formularies as Topic / Q000592:standards*; D006801:Humans; D008329:Managed Care Programs / Q000191:economics* / Q000592:standards; D010593:Pharmaceutical Services / Q000191:economics* / Q000592:standards; D010606:Pharmacy and Therapeutics Committee; D011785:Quality Assurance, Health Care; D014481:United States