Content Updates: Formulary Process – Managing the Pharmacy Benefit

Optimal formulary placement is key to a product’s success. CMR Institute’s Formulary Process topics are designed to prepare multiple roles within pharmaceutical companies to use this important aspect of the delivery chain to address market and patient access challenges and position your products to pharmacy & therapeutics (P&T) committees and other key decision-makers in a value-driven market.

In this training comprising 10 eModules, your teams will learn the rationale behind formularies and the advantages and disadvantages that come with their use. There are eModules to explain the use of formularies in hospital and managed care organizations (MCOs) and how formularies control healthcare costs under Medicare and Medicaid programs.

Additionally, sales professionals need to successfully navigate and sell in the formulary environment. Our module focused on selling discusses how pharmaceutical companies have responded to and are succeeding in a formulary environment. It helps sales professionals understand their strategies and ensure they are prepared to prosper in this complex setting.

What’s New?

Updates have been made in the following 10 eModules:

1. Why Formularies
2. Hospital and Managed Care Formularies
3. Medicare and Medicaid Formularies
4. Formulary Design
5. The Pharmacy and Therapeutics Committee
6. Criteria for Product Approval to the Formulary
7. Strategies for Managing the Pharmacy Benefit
8. Role of Clinicians and Pharmacists in Managing the Pharmacy Benefit
9. Administering the Pharmacy Benefit
10. Selling in the Formulary Environment

Among other updates and new learning design elements, we have added information on the ways Clinical Decision Support tools can assist healthcare providers when prescribing and about Joint Commission research identifying challenges of implementing Medication Therapy Management (MTM). We have also updated data on the Medicare Part D Defined Standard Benefit and added information on the ways electronic alerts improve adherence to the formulary.

It remains vital to the success of customer-facing sales professionals to understand the impact of formulary design and pharmacy benefit to support your customers and their patients.

Save valuable resources with our customizable and always up-to-date eLearning content. Eliminate the need for extensive content development and minimize training delivery costs. Get and keep your teams up to date quickly and efficiently, maximizing productivity and minimizing time-to-competence. Contact CMR today.

Chat with our training experts about the newly updated Formularies eModules. Managed care training pathways and value-based selling training pathways are complemented by these training topics.