- Nov. 28, 2018
-- RemedyOne is dealing another blow to inefficiencies, waste and mismanagement in healthcare with the formation of an in-house Pharmacy and Therapeutics (P&T) Committee. Leveraging the experience and expertise of physicians across a wide range of specialties, RemedyOne is applying evidence-based, clinical guidance to create, manage and continuously review dynamic formulary and treatment guidelines based solely on clinical efficacy and safety.
"The unfortunate truth behind many large PBM formularies is that hidden rebates and perks influence drug selection, limit choices and increase costs – and that's got to stop," says Mike Waterbury RemedyOne Founder and CEO. "We've created our own P&T Committee to leverage the council of respected, experienced clinicians to help us offer a formulary based solely on clinical effectiveness. So health plans, employers and patients pay lower drug costs." Initial work by the committee has uncovered hundreds of drug alternatives that can save millions of dollars each year, with some treatment costs cut by up to 95%. Additionally, the P&T Committee will thoroughly review patient outcomes, safety, and efficacy prior to approving formulary access to any new medications approved by the FDA."
"RemedyOne committed the resources, time and investment to create its own P&T Committee and formulary management process," says Robert Louie, RPh, Executive Vice President of Clinical Services at RemedyOne. "This provides RemedyOne with clinical expertise usually found only with large lumbering companies, but in a nimble, efficiency-focused change agent. It's an investment that pays big dividends for our clients as it frees us from the waste inherent in using other companies' formularies. Our P&T also allows us to be transparent and provide all the supporting information regarding our decisions. If your PBM does not provide this today, we address that inefficiency."
The RemedyOne P&T Committee is responsible for ensuring access to evidence-based and cost-effective medications, biologics, and devices through the design, maintenance, and implementation of drug formularies. The primary function of the P&T Committee is to provide clinical guidance related to appropriate drug formularies and use of the medication or devices.
RemedyOne has designed its P&T policies and procedures to require a therapeutic class review and approval before any drug is placed on our formulary. This structure ensures all medications are appropriately reviewed. For more information, please visit www.remedy-one.com