When it comes to hospitals deciding which medications to select for formulary addition and which will remain on the formularies, the method is largely static and antiquated, having changed very little since the 1990s. Pharmacy and Therapeutics committees, consisting of internal hospital leadership, vote to collectively decide which medications should be added or removed based on safety and efficacy.
The problem with this method is that the decisions are largely subjective – influenced by anecdotal evidence about which drugs are most effective, which drugs patients “prefer due to consumerism,” group consensus, relationships with sales reps, brand loyalty and other unscientific factors. And often, the choice comes down to price, with little consideration for the fact that price does not equal value.
Join Arash Dabestani, PharmD, MHA, FASHP, FABC, Senior Director of Pharmacy at NYU Langone Health, and William Kirsh, DO, MPH, Chief Medical Innovation Officer at Agilum Healthcare Intelligence, for an engaging presentation about drug formularies of the future at HIMSS 2020. They will discuss how health systems and payers can use longitudinal patient databases to access real-world data when making drug formulary decisions, revolutionizing the process to help improve patient outcomes and reduce healthcare costs.
Evolving Formulary Decision-Making with Real-World Data
Location: Room W414C
Date: Tuesday, March 10, 2020
Time: 1:30 – 2:30pm