Session ID: 
56

Evolving Formulary Decision-Making With Real-World Data

1:30pm - 2:30pm Tuesday, March 10
Orlando - Orange County Convention Center
W414C

Description

The future of Pharmacy and Therapeutics formulary maintenance is the use of longitudinal, de-identified patient data. Through aggregation of data from hospital peer groups and comparative analytics, hospitals and health systems can encourage the evolution of the formulary decision-making process, enabling physicians to make drug decisions based on real-world data (RWD) and real-world evidence (RWE). The result is lower downstream healthcare costs and improved patient outcomes. Discover how NYU hospital leaders changed their approach to post-op orthopedic pain management, after RWD and RWE revealed that the drugs they had been using made little difference in length of stay and were correlated with increased opioid prescribing. The process for making drug formulary decisions is static and antiquated, based on anecdotal evidence from physicians and outdated snapshots from clinical trials. Priority is placed on cost over impact on length of stay or patient outcomes. The truth is in the data.

Learning Objectives

  • Differentiate between anecdotal evidence and real-world evidence when making drug formulary decisions
  • Show hospital leadership and other colleagues the value in evolving the formulary decision making process to include consideration of real-world data and real-world evidence
  • Integrate the use of real-world data and real-world evidence, along with comparative analytics, into Pharmacy and Therapeutics committee meetings
  • React to discussions and questions in Pharmacy and Therapeutics committee meeting by taking into consideration the use of real-world data and real-world evidence

Speaker(s)

Director of Pharmacy,
NYU Langone Health
Chief Medical Officer,
Sentry Data Systems, Inc.

Continuing Education Credits

ACPE
1.00
CAHIMS
1.00
CPHIMS
1.00

Audience

Chief Quality, Chief Clin Transformation Officer
Healthcare Financial Professionals
Pharmacy Professional

Level

Intermediate