Addition creates a more comprehensive pricing and analytics tool for pharmaceutical companies, pharmacy benefits managers and pharmacy headquarters
Elsevier / Gold Standard, a leading developer of drug databases and medication management solutions, announced today several enhancements to its pricing tool, ProspectoRx, including the addition of Federal Supply Schedule (FSS) pricing to facilitate pricing analysis.
The rate and frequency at which drug prices change in today's competitive environment make current, accurate and easily accessible pricing information critical to success in the pharmaceutical industry. The addition of FSS pricing for analysis makes ProspectoRx an even more comprehensive pricing and analytics tool by providing immediate access to competitive federal pricing, better marketplace knowledge and less time spent researching.
"As the only real-time pricing tool available, our customers rely on ProspectoRx for current and accurate information," stated Kay Morgan, SVP, Drug Products and Industry Standards for Elsevier / Gold Standard. "Our customers requested to make their analysis of markets and pricing faster and easier, so the addition of FSS will further aid them with the pricing analysis they need to make decisions and form the right strategies."
Derived from Elsevier / Gold Standard's Alchemy drug product and pricing files, ProspectoRx includes extensive information on brand and generic drugs, delivering immediate access to price changes and new product information. It already includes extensive pricing information, including: reported Average Wholesale Price (AWP), Wholesale Acquisition Cost (WAC), Direct Price (DP), and Federal Upper Limit (CMS-FUL), as well as Calculated Average Wholesale Price (C-AWP) 1.20 and 1.25, and Calculated Federal Upper Limit (C-CMS-FUL).
Other enhancements include multiple watch lists and enhanced price change notifications, a new label name search box for market class, along with an improved interface, help tab, and report download capabilities.
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