Elsevier / Gold Standard, a US-based developer of drug databases and medication management solutions, has announced several enhancements to its pricing tool, ProspectoRx. This includes the addition of Federal Supply Schedule (FSS) pricing to facilitate pricing analysis.
Other enhancements include multiple watch lists and enhanced price change notifications, a new label name search box for market class, along with an improved interface, help tab, and report download capabilities.
The rate and frequency at which drug prices change in today's competitive environment make current, accurate and easily accessible pricing information critical to success in the pharmaceutical industry, it has been observed. The addition of FSS pricing is projected to make ProspectoRx an even more comprehensive pricing and analytics tool by providing immediate access to competitive federal pricing, better marketplace knowledge and less time spent researching.
Derived from Elsevier / Gold Standard's Alchemy drug product and pricing files, ProspectoRx is said to include extensive information on brand and generic drugs, delivering immediate access to price changes and new product information. Pricing information that is already offered includes: reported Average Wholesale Price (AWP), Wholesale Acquisition Cost (WAC), Direct Price (DP), and Federal Upper Limit (CMS-FUL), as well as Calculated Average Wholesale Price (C-AWP) 1.20 and 1.25, and Calculated Federal Upper Limit (C-CMS-FUL).
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