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RxCost® Assessing real world drug safety by calculating the costs of side effects and poor patient outcomes after FDA approval
Introducing RxCost: the first methodology to identify the total costs of adverse drug reactions (ADRs) associated with FDA-approved drugs.
RxCost provides the most complete representation of a drug’s true cost by analyzing real-world data and presenting the costs of actual adverse side effects of specific drugs (e.g., injury, hospital admission/readmission, disability and/or death). This rapid and meaningful analysis results in improved prescribing, formulary, and coverage decisions.
- determines the long-term economic impact of prescribing a particular drug
- discovers new drug risks that have not been identified in pre-market drug testing, uncovering 3x more ADRs than clinical trials
- provides direct head-to-head comparisons between similar medications
- reveals costs associated with serious adverse event and outcomes per patient
- compares cost per patient with the average cost of other drugs in an indication, class or mechanism of action
- shows both on- and off-label costs for a real-world financial picture, not just the limited scope provided by pre-approval clinical trials.