What is Formulary Automation
Formulary Management is a process that allows physicians, pharmacists, and other healthcare professionals to use healthcare resources to reduce overall medical costs effectively. A formulary system is an up-to-date list of medications and related products containing guidelines, clinical information for patients and healthcare professionals, dispensing information, and more.
Listed below are industries that use this process:
(3) Medicare & Medicaid Programs
(4) Government Agencies
What is a Formulary System
A formulary system includes the methodology an organization uses to evaluate clinical and medical information and the approach for selecting medications for various diseases, conditions, and patients. It also includes policies and procedures for the securing, dispensing, administering, and appropriate use of medications inputted into the system.
What makes MP1: Rx Formulary Solution different?
Unlike other platforms, the MP1: Rx Formulary Solution provides all the same information as other tools but all on a cloud-based platform and allows anyone accesses to the platform. The software also enables you to visualize the data, break it down by waste class, and click on any record to see a medication profile with various information about the product. In addition, MedPro’s new MP1’s Rx Formulary Manager powered by Bird’s Eye can instantly filter 82 district data points from any National Drug Code (NDC). This tool can quickly and accurately identify DEA-controlled substances, and hazardous and non-hazardous medications, ensuring that your practice is always up-to-date and compliant with federal and state regulations.
Click here to learn more about MedPro’s MP1: Rx Formulary Solution.