Medical information provider Wolters Kluwer Health (WK Health), US, has announced the launch of its new Brand Probability File, which simplifies data analysis for brand vs. generic decisions.
The Brand Probability File provides pharmacies, pharmaceutical manufacturers and payers a new way to quickly identify drug products as brand or as generic for purposes of formulary management, claim payment, claim reimbursement or other analytics. It is offered under the Medi-Span product line, which consists of drug and clinical information databases that can be embedded in a wide range of healthcare applications, including retail pharmacy, pharmacy benefit management, claims processing and electronic medical records.
The Brand Probability File empowers users by providing statistical data to back brand versus generic formulary decisions. Also, it increases efficiency by providing simplified access to the data that drives decisions, and simplifies the analysis needed for accurate and informed decision making. Utilising various data elements published by Medi-Span and a proprietary algorithm, the Brand Probability File calculates a Brand Probability Percent Value for a drug product. The closer the Brand Probability Percent Value is to 100 percent, the greater the probability that drug product behaves as a brand in the market.
