TruDataRx
Clinically-Focused Pharmacy Benefit Optimization
Transcription:
What is TruDataRx?
Thank you, Chris. TruDataRX is a data analytics company that puts the power of comparative effectiveness research in the hands of self-insured plan sponsors who want to clinically manage their pharmacy plans. Now, this is important because the industry today relies on FDA approval criteria when designing formularies. But did you know that when the FDA is approving a drug, it asks the question, "Is this drug better than a placebo?" Basically, is this drug statistically better than nothing? This is weak. In fact, 73% of physicians didn't even know this. Most docs assume, understandably, that a new drug would have to be better than old drugs before it would gain approval. Not the case. And all around the world, our peer nations leverage a field of research called comparative effectiveness research that asks the stronger question, is this drug better than other drugs? We choose not to do it at a governmental level in the United States, so we ask it on behalf of our clients and bring this powerful field of research to bare.
How is TruDataRx different?
Chris, Everybody in this industry focuses on what a drug costs. We focus on how well a drug works. In fact, our clients tell us that graphs like this are what set TruData apart. Take a look at this example. This is all drugs that treat one condition, and the drugs up into the left in red don't work nearly as well, and are much more expensive than the drugs down and to the right in green, which are much more clinically effective and much less expensive. So by viewing drug spend through this clinical lens employers can ensure they're covering the best drugs at the lowest cost.
Who is a good fit for TruDataRx?
Any plan sponsor who looks at their drug spend and wonders, are the best drugs really getting in the hands of my employees? They're a good fit for us. Because they prioritize clinical value in their drug spend. Look at what we achieved for one client. What plan sponsors find is by putting clinical value first they can achieve savings for the plan, but they can also create a win for their members by offering the best drugs at a lower cost share to them. We like to tell our clients, don't trust us, test us. Send us 12 months of your claims data, let us see what we can find.
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Transcription:
What is TruDataRx?
Thank you, Chris. TruDataRX is a data analytics company that puts the power of comparative effectiveness research in the hands of self-insured plan sponsors who want to clinically manage their pharmacy plans. Now, this is important because the industry today relies on FDA approval criteria when designing formularies. But did you know that when the FDA is approving a drug, it asks the question, "Is this drug better than a placebo?" Basically, is this drug statistically better than nothing? This is weak. In fact, 73% of physicians didn't even know this. Most docs assume, understandably, that a new drug would have to be better than old drugs before it would gain approval. Not the case. And all around the world, our peer nations leverage a field of research called comparative effectiveness research that asks the stronger question, is this drug better than other drugs? We choose not to do it at a governmental level in the United States, so we ask it on behalf of our clients and bring this powerful field of research to bare.
How is TruDataRx different?
Chris, Everybody in this industry focuses on what a drug costs. We focus on how well a drug works. In fact, our clients tell us that graphs like this are what set TruData apart. Take a look at this example. This is all drugs that treat one condition, and the drugs up into the left in red don't work nearly as well, and are much more expensive than the drugs down and to the right in green, which are much more clinically effective and much less expensive. So by viewing drug spend through this clinical lens employers can ensure they're covering the best drugs at the lowest cost.
Who is a good fit for TruDataRx?
Any plan sponsor who looks at their drug spend and wonders, are the best drugs really getting in the hands of my employees? They're a good fit for us. Because they prioritize clinical value in their drug spend. Look at what we achieved for one client. What plan sponsors find is by putting clinical value first they can achieve savings for the plan, but they can also create a win for their members by offering the best drugs at a lower cost share to them. We like to tell our clients, don't trust us, test us. Send us 12 months of your claims data, let us see what we can find.
Get NEW 3x3x3 Challenges in your inbox every week!
Take the 3x3x3 Challenge and showcase your company or product on BenefitsAlly.com!