Solutions
Learn more about our clinical approach
Why current formulary
management strategies
are not enough
The pharmacy market is fraught with hidden costs and conflicts of interest. The traditional approach to managing the pharmacy benefit has been to leverage discounts and rebates, prioritizing drug coverage based on the most lucrative rebate.
Rebate-chasing strategies fall short because they do not consider the clinical effectiveness of drugs. Because rebatable drugs are higher cost, more expensive drugs are covered and pharmacy spending continues to skyrocket for employers who rely on this strategy.
Promises of transparency or a lowest net cost only get you so far in right sizing your plan spend. Because price alone will never answer the question: Is this drug the most effective?
Only Comparative Effectiveness Research can answer that question.
Formulary coverage with TruDataRx is different
Comparative Effectiveness Research (CER) is a global field of science that determines how well drugs work compared to each other. Most other countries, like France and Switzerland, use this research to develop drug coverage policies.
We don’t use CER in the U.S. Instead, the primary way we evaluate clinical effectiveness is FDA approval data. This is because many people mistakenly believe that the FDA approves new drugs only when they are better than existing drugs.
FDA does not require new drugs to prove they are better than existing drugs.
You might wonder why the U.S. doesn’t use Comparative Effectiveness Research (CER) to manage prescription drug formulary coverage. We did too because all other countries like the U.S. rely on this type of analysis when making coverage decisions.
We are research scientists and clinicians who are experts in the field of CER. Our database curates all the available scientific data from peer-reviewed literature and our analytics make this data relevant and actionable for employers. Our Pharmacy & Therapeutics (P&T) Committee makes daily updates to the database so that it can be utilized to manage Rx spend.
Our database and analytics
We specialize in applying comparative effectiveness research to pharmacy plan management, bridging the gap between clinical efficacy data and actionable insights. This research methodology, performed by academic institutions and esteemed publishers like the Institute for Comparative Effectiveness Research (ICER) and Cochrane Collaboration, serves as our foundation.
Where these organizations stop is where TruDataRx begins. We distill the lengthy clinical reports into digestible data, turning population-level data on drug efficacy into population-level coverage policies via proprietary algorithms and user-friendly condition-level summaries. By applying this synthesized clinical data into your pharmacy claims and formularies, we seamlessly translate complex research findings to unlock strategic Rx plan management opportunities.
Our business model
Designed for simplicity and to eliminate any conflicts of interest – we only work for plan sponsors and have no revenue sources from industry players motivated by the sale of drugs, such as manufacturers or PBMs. We charge a flat fee on a per member basis.
How can this work
for you?
Pharmacy is one of the most important benefits you offer your employees. Yet, the sustainability of the benefit is at risk for many plan sponsors due to the consistent rising spend trend.
Our approach is different. We help right-size the value of your Rx plan in three main ways:
The TruData RX approach:
- Value of the covered drugs
- Value for your members
- Value of your money
1 Value of the
covered drugs
We give you a view of your Rx spending that no one else can. Our effective visualizations allow you to see how well a given drug works relative to how much it costs.
2 Value for
your members
Your pharmacy benefit is a benefit after all. Our strategies are tailored to your unique population so that our recommended strategies are both a plan and a member benefit
3 Value of
your money
We know your money is worth more today than it is tomorrow. Our clinical coverage strategies generate value immediately—as soon as the next Rx—rather than waiting for a rebate check months down the line.
Clinical data provides the clearest insight into effective Rx plan management. We don’t chase savings or try to squeeze in point solutions for promises of cost reduction.
We broaden the horizons of your Rx benefit, helping you implement sustainable coverage strategies your members and their providers feel good about.