PHILADELPHIA, May 9, 2016 /PRNewswire/ --
TRUE Daily Updates™ From GSDD Enable Customers to Avoid Dispensing Delays and Potential Risks to Patient Safety
Elsevier, a world-leading provider of scientific, technical and medical information products and services, today announced that its Gold Standard Drug Database (GSDD) incorporated the pricing data for the federal government's new drug pricing benchmark, Affordable Care Act Federal Upper Limit (ACA-FUL) on the same day the government made it available, enabling Elsevier GSDD customers to react quickly to any indication of price movement.
Through TRUE Daily Updates™, available exclusively from Elsevier, customers can access all pertinent information on the same day that new drug launches or an important change is announced, such as the ACA-FUL, to avoid dispensing delays and potential risks to patient safety.
"With the federal government's new drug pricing benchmark, as well as other information related to new drug launches or significant changes, our customers benefit by having access to the most current and accurate data available to enhance reimbursement decisions and avoid potential delays in dispensing medication," said Kay Morgan, Vice President, Drug Products & Industry Standards, Elsevier. "Our customers don't have to access a separate file to get to this new pricing information. The ACA-FUL data is available immediately."
Morgan noted that ACA-FUL uses Average Manufacturer Price (AMP) data, which is reported monthly and quarterly after the fact. By the time CMS aggregates AMP data and publishes new ACA-FULs, they are based on data that are three to four months old. It is estimated that there is a 60-90 day lag from the time a drug is purchased to the time an actual ACA-FUL price is published. Also, AMP can be changed per market share agreements based on rebates, causing additional price changes to happen within the 60-90 day lag time. This can have a significant impact, such as when new generics enter the market and it takes several months to calculate the ACA-FUL and additional time to calculate any changes to the AMP.
"With these delays, being able to provide prompt updates for all drug information, such as clinical and patient safety data, drug pricing and images, is critical," said Morgan.
Elsevier is a world-leading provider of information solutions that enhance the performance of science, health, and technology professionals, empowering them to make better decisions, deliver better care, and sometimes make groundbreaking discoveries that advance the boundaries of knowledge and human progress. Elsevier provides web-based, digital solutions - among them ScienceDirect, Scopus, Elsevier Research Intelligence and ClinicalKey - and publishes over 2,500 journals, including The Lancet and Cell, and more than 33,000 book titles, including a number of iconic reference works. Elsevier is part of RELX Group, a world-leading provider of information and analytics for professional and business customers across industries. http://www.elsevier.com
Director, Corporate Relations