Annual Report Finds Medicaid Preferred Drug Lists Affect the Way Drugs are Prescribed
SRWAs annual Medicaid Preferred Drug List report is a cost-effective, informative, and timely method for tracking the formulary status of Medicaid products
DOWNINGTOWN, PA (PRWEB) July 22, 2004 - The trend is for state Medicaid programs to develop a Preferred Drug List (PDL) that not only controls which brand and generic drugs are used first, but generates extra revenue with the advent of supplemental rebates. Pharmaceutical companies that do not have drugs as preferred" find their products are used second- and third-line not a profitable situation for products that cost more than $200 million to bring to market.
S. R. Ware Associates, Inc. (SRWA) announces the July 2004 publication of its annual report on Medicaid Preferred Drug Lists. Subscribers to the PDL report finally have a reliable information management source that is timely and cost-effective. SRWA follows the formulary status of Medicaid preferred drug list (PDL) products by state, type of program, therapeutic class and other data. PDL's are a "hot topic" between Medicaid and the pharmaceutical industry; therefore, every company needs to know what is happening with their products at the state level. SRWA has been providing cost-effective reports for small and big pharma since 1995.
Small and medium sized pharmaceutical companies have field or home office personnel with PDL information available, but not in a format that can be shared easily. When each department operates from the same knowledge base, the company operates more efficiently.
We introduced our report last year when many of our clients asked that we provide a comprehensive report tracking the formulary status of their product on Medicaid," says Steve Ware, President of SRWA. Our 2004 report captures PDL movements by states as they build and change preferred drug lists. Many states have considered or will implement some type of PDL program in 2003 and 2004."
SRWA Reports are Unique
The SRWA Report is published quarterly and has information on:
Which states have PDLs
What PDL has your product as preferred,
Therapeutic categories that are reviewed and the outcome, plus
Whether brands or generics are preferred.
SRWA reports are vital for both small and large pharmaceutical companies because it:
Alerts field and office staff to therapeutic class changes, which is crucial to long-term planning,
Allows for the efficient use of knowledge and enhances communication and goal setting, and
Is a cost effective and inexpensive first-class reference, unique to the industry.
Innovative Concepts are a Trademark of SRWA
This is an innovative concept," says Ware. Targeted reports such as our PDL report can enhance the value of new and established products as well as the value of the team managing the process. Many pharma companies do not have the field or home office staff to cover every state. Thats where we provide the helping hand."
Additional SRWA Reports are due to be released in 2004 and will cover Medicaid managed care and other drug programs. Contact SRWA for more information and a sample of our report.
About The SRWA Report©
The SRWA Report is available from S. R. Ware Associates, Inc. as a comprehensive report published annually. To find out more about SRWA concepts, cost, and delivery times, call 610-321-6191 or e-mail SRWA info@srwa.net
About S. R. Ware Associates, Inc.
S. R. Ware Associates, Inc. (SRWA) opened its doors in 1995 as a contract consultant group focused on pre- and post-launch pharmaceutical, biotechnology, or laboratory products requiring approval from Medicaid, Medicare, or other entities. The companys prime focus is on marketing and market research, but also conducts sales and management training. SRWA President and founder Steve Ware is a 25-year veteran of pharmaceutical sales, market research, knowledge management, and opinion leader development. SRWA draws upon a cadre of experienced associates with expertise in lobbying, sales management, advocacy, and a variety of therapeutic areas.
More information about SRWA is available by visiting http://www.srwa.net
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