Article

Empowering healthcare decision-making: A reflection since FormularyDecisions’s five-year acquisition

Laurie Fazio
Jasmine Knight

In celebration of FormularyDecisions' 5-year acquisition anniversary, we reflect on the remarkable evolution and impact this platform has had on the formulary decision-making landscape.

Four people smile and laugh around a table in a bright conference room. Three of them stand at the table while one sits with a laptop on the table in front of them.

From its inception as the AMCP eDossier System to its rebranding as FormularyDecisions in 2017 and subsequent acquisition by Cencora, becoming the largest online community of healthcare decision makers in the US. The journey has been marked by significant growth, innovation, and a steadfast commitment to meeting the evolving needs of healthcare decision makers (HCDMs) and biopharma companies.

In this article, we speak with Jasmine Knight, Senior Director of Digital Solutions at Cencora, and Laurie Fazio, Head of Manufacturer Strategy, FormularyDecisions at Cencora. We reflect on pivotal shifts in formulary decision-making practices over the years, the evolving requirements of payers, Cencora’s instrumental support for FormularyDecisions’ progress and inventive solutions, as well as forthcoming trends.

The unfolding of formulary submissions

The evolution of formulary submissions over the years reflects a significant shift in healthcare management. Growing complexities in drug products, rising prices, and direct-to-consumer advertising have necessitated a more systematic approach to formulary management.

Early initiatives from the 1990’s laid the groundwork for this transformation, highlighting the need for comprehensive and timely evidence in formulary decision-making. A pivotal development in this arena was the launch of the Academy of Managed Care Pharmacy (AMCP) Format for Formulary Submissions in October 2000. This format provided a structured framework for HCDMs to assess the evidence required for formulary and coverage policy decisions. By enabling pharmaceutical manufacturers to submit detailed clinical and pharmacoeconomic data—including off-label information—the AMCP Format fostered open dialogue between manufacturers and healthcare providers, addressing the information asymmetry that previously hindered payer evaluations.

Over the years, the AMCP Format has undergone four major revisions, ensuring that high-value treatments remains accessible to patients who need them.

From inception to acquisition

FormularyDecisions traces its origins back to the launch of the AMCP eDossier System Pilot Program in 2010, initiated by AMCP and Dymaxium Healthcare Innovations, Ltd¹. This program emerged from discussions about creating a web-based eDossier platform that would meet regulatory standards. This pioneering electronic dossier system aimed to transform how HCDMs accessed and evaluated critical information for evidence-based formulary decisions.

With over 200 registered HCDMs, users could explore various features and request dossiers across multiple biopharma companies via the eRequest Tool. Access to dossiers required approval from the biopharma companies to ensure compliance with regulations. The system adhered to AMCP Formulary Submission guidelines, allowing biopharma companies to make content decisions, which facilitated transparent information sharing and unbiased outcomes.

As the platform evolved, it was rebranded as FormularyDecisions in 2017 to reflect a broader scope of bidirectional information exchange beyond traditional dossier fulfilment. Following its acquisition by Cencora (formerly AmerisourceBergen) in 2019, FormularyDecisions has experienced significant growth and innovation, driven by a commitment to meet the evolving needs of HCDMs and biopharma companies in the healthcare industry.

Reflecting on the past five years

The past five years have witnessed a paradigm shift in FormularyDecisions’ offerings as the platform has successfully adapted to shifting dynamics by embracing a holistic model. Since its launch, it has expanded to include over 130 biopharma companies and more than 480 products via subscriptions.

“Since the enactment of the Pre-approval Information Exchange (PIE) Act, there has been a noticeable uptick in the demand for PIE materials, with healthcare decision makers and biopharma companies increasingly utilizing the platform to request and upload such content,” says Laurie Fazio. When the AMCP Format, Version 4.0, was released in 2016, guidance on PIE was limited to the dossier. However, there has been a significant shift since then, with HCDMs increasingly seeking pre-approval information alongside their dossier requests. This trend coincides with a growing eagerness among pharmaceutical companies to engage in pre-approval discussions, highlighting its importance in the decision-making process.

At the same time, with more than 1,200 HCDMs now registered, the needs of HCDMs have evolved, prompting FormularyDecisions to establish a specialized payer engagement team after the acquisition. This team is dedicated to enhancing interactions with payers through initiatives such as live events and collaborations with other Cencora entities, aimed at increasing visibility and engagement among potential HCDM users.

FormularyDecisions has unveiled a range of innovative features in recent years, in particular establishing hubs focusing on biosimilars and cell and gene therapies, updated product snapshots, clinical guideline snapshots, Managed Markets Insight & Technology (MMIT) formulary coverage insights, and more.

To maintain continued effectiveness as a digital channel for biopharma companies and HCDM audiences, FormularyDecisions emphasizes the importance of stakeholder input from both groups. This approach allows for adjustments in content delivery methods to better meet the needs of users. Feedback from HCDMs has generally been favorable with many recognizing the platform’s comprehensive approach to information sharing. Users value the detailed information available on product landscapes across various therapeutic areas, as well as the tailored content delivery that aims to enhance usability.

“Cencora's acquisition of FormularyDecisions has been pivotal in fostering growth and innovation. The integration has provided enhanced resources and broader marketing strategies, facilitating substantial industry outreach,” says Jasmine Knight. Notably, the introduction of the Impact and Innovation award in the last two years underscores FormularyDecisions' commitment to recognizing excellence in the digital information realm, further solidifying its position as a leader in the field.

Future directions

As we look towards future trends shaping formulary decision-making processes, Artificial Intelligence (AI) emerges as a key player. FormularyDecisions is exploring compliant integration of AI solutions into its platform to facilitate meaningful interactions for both HCDM users and biopharma subscribers, aligning with evolving preferences for digital engagement strategies within healthcare decision-making ecosystems.

The platform’s commitment to innovation is evident in its ongoing efforts to improve the formulary decision-making landscape. By fostering a transparent exchange of information between HCDM and manufacturer stakeholders, cultivating a deep understanding of product landscapes, and ensuring a thorough verification process of HCDMs based on FDA guidance on payer communications, FormularyDecisions aims to continue driving positive outcomes within the industry to create healthier futures for patients.

Connect with our team below to explore how FormularyDecisions can support your decision-making needs in the evolving healthcare landscape.

Authors

Cencora strongly encourages readers to review all available information related to the topics discussed in this article and to rely on their own experience and expertise in making decisions related thereto.