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FutureRx Modules
FutureRx modules provide all the elements for a comprehensive pharmacy benefits program. Each module can be purchased as technology or as a service. You also have the choice to purchase modules one at a time or all at once.
Formulary
Successful formulary management requires a comprehensive strategy to drive optimal clinical outcomes and address drug costs. Formulary development and maintenance is a complex process that includes many stakeholders. Formularies are dynamic, in a state of constant evolution due to advancements in disease treatment, new drug entities, new generics, and market competition. Further contributing to the complexity of formulary administration is the need to track multiple formularies where there may be limited or many different drug treatment options depending on the structure.
Developing and maintaining dynamic formularies presents ongoing challenges from many perspectives, particularly tracking, updating, and housing formularies and translating into adjudication. FutureRx’s Formulary Tool simplifies and supports formulary processing and interfaces with an adjudication system that minimizes errors and risks from manual interventions. Different lines of business offering pharmacy benefits may be subject to different challenges and regulatory requirements. FutureRx’s solution was developed by industry experts to address those complexities and to streamline formulary development and maintenance.
Developing and maintaining dynamic formularies presents ongoing challenges from many perspectives, particularly tracking, updating, and housing formularies and translating into adjudication. FutureRx’s Formulary Tool simplifies and supports formulary processing and interfaces with an adjudication system that minimizes errors and risks from manual interventions. Different lines of business offering pharmacy benefits may be subject to different challenges and regulatory requirements. FutureRx’s solution was developed by industry experts to address those complexities and to streamline formulary development and maintenance.
The FutureRx Advantage
Medicare:
- Agile system developed to address CMS’s innovative formulary and benefit designs
- Simplified workflow processes to track progress and reduce redundancy
- Ability to replicate HPMS formulary change analysis and output prior to formulary file submissions
- Validations accurately address CMS MAPD, PDP and MMP formulary requirements
- Comprehensive Formulary Search Tool option that may be used as a replacement for the website PDF comprehensive formulary
- Flexible CMS compliant formulary marketing material generation associated with designated contracts and plan benefit packages
- Defined lookback and requirements during formulary development and maintenance
Medicaid:
- State Medicaid preferred drug lists
- Innovative methodology for formulary and utilization management creation
- Carve-out functionality and validations to minimize risk of covering drugs that are administered by another entity
- Defined lookback and requirements during formulary development and maintenance
Commercial:
- Innovative methodology for formulary and utilization management creation and maintenance
- Define lookback and requirements during formulary development and maintenance
- Simplified generation of marketing materials
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FutureRx modules provide all the elements for a comprehensive pharmacy benefits program. Each module can be purchased as technology or as a service. You also have the choice to purchase modules one at a time or all at once.