BURLINGTON, Mass., Aug. 16, 2017 /PRNewswire/ -- Decision Resources Group (DRG), leading provider of healthcare market intelligence, has launched a research initiative that dives into the dynamics of prescription drug formularies by state. In today's ever-evolving world of prescription drug development and reimbursement models, each state presents a unique challenge to payers, providers and pharma—so quickly gauging the influence, interaction and tensions between key industry sectors, as well as tracking policy and legislative developments within each state, becomes essential.
To that end, DRG's new Opportunity Index assesses the market potential for maximizing prescription drug reimbursement based on prevalent reimbursement patterns and the state, regional and national managed care enrollment mix. It allows insights that can determine resource allocation strategies and plan development based on local market forces—and identify opportunities and threats.
"When it comes to defining market opportunity, rapid change is the new normal for every segment of the U.S. health care industry. What you thought was true yesterday may have changed overnight," said Dave Raiford, Senior Director, U.S. Market Access Insights for DRG.
"Whether it's hearing about new models of value-based contracting or keeping a finger on the pulse of the ever-shifting regulatory and legislative landscape, pharma, payers, and providers face incredible challenges in defining their position and charting their course," Raiford added. "Formulary Insights is a tool that will help key stakeholders find those opportunities and identify the risks in an increasingly chaotic market environment."
Formulary Insights is being introduced as part of DRG's already robust Health Plan Analysis, which looks at U.S. managed care dynamics from every angle, including insight by state, health plan, MCO, Exchange and Medicaid. DRG's insights are enhanced by Gold Standard lives data, teams of expert analysts, and nationally-recognized thought leaders.
For more information on DRG's product offering, please visit www.decisionresourcesgroup.com or call 1-855-380-4850.
About Formulary Insights
The Formulary Insights report series provides analysis of the trends and market dynamics affecting formulary decisions and product opportunity in each U.S. state, Washington, D.C., and Puerto Rico. Each report includes our proprietary Opportunity Index, analysis of Value-Based and Innovative Contracting, and regulatory and policy matters. Formulary Insights are an enhancement of DRG's Health Plan Analysis portfolio
About Health Plan Analysis
Health Plan Analysis is the tool for understanding the competitive managed care organization landscape, providing state health plan information that drives meeting preparation, strategic planning, and sales strategy development. It provides event-driven insights into the latest state health plan trends that drive local-level sales and planning strategy development and includes updates on:
- Commercial Carriers
- Managed Medicare Markets
- Managed Medicaid Markets
- Pharmacy Benefits
- Patient Care Management
- Healthcare Reform
- Key Market Events
About Decision Resources Group
DRG, a subsidiary of Piramal Enterprises Ltd., is the premier source for global healthcare data and market intelligence. A trusted partner for over 20 years, DRG helps companies competing in the global healthcare industry make informed business decisions. Organizations committed to the developing and delivering life-changing therapies to patients rely on DRG's in-house team of expert healthcare analysts, data scientists, and consultants for critical guidance. DRG products and services, built on extensive data assets and delivered by experts, empower organizations to succeed in complex healthcare markets.
SOURCE Decision Resources Group