The Confidio RED™ (Recommended Excluded Drug) List by Confidio is Now Enhanced
TOWSON, Md., Nov. 3, 2020 /PRNewswire/ -- Confidio, a technology-enabled pharmacy benefits consulting firm has completed its annual update of the Confidio RED™ List. The Confidio RED List was launched in 2019 to empower plan sponsors to counteract drugs that drive higher pharmacy benefit costs by identifying clinically equivalent prescription or over-the-counter alternatives available at significantly lower costs.
"Confidio is committed to identifying opportunities for our clients to save additional dollars above and beyond what their current PBM does today. We are committed to successfully working with our PBM partners to deliver these savings opportunities," said Sonja Quale, Pharm.D., Vice President and Chief Clinical Officer at Confidio.
The clinical team reviewed additional drugs during 2020, to enhance the Confidio RED list to maximize potential savings further. Brian Maas, RPh, Clinical Consultant at Confidio said, "Non-essential drugs can cost 50 to 100 times more per unit than their therapeutic alternatives. During 2020, we were able to identify additional drugs that will drive a supplementary 2.5% potential plan savings on top of the 2% potential plan savings when we first rolled out the program in 2019."
The Confidio RED List was expertly designed and strategically built to allow plan sponsors to reduce prescription benefit costs and minimize member impact. Key features of the Confidio RED List include:
Plan sponsors can strategically leverage the Confidio RED List with any PBM formulary design, utilization management programs and exclusions list. Confidio goes one step further to ensure plan sponsors have the most efficient plan design by evaluating over-the-counter drugs, combination therapy and alternative prescription drugs.
Plan sponsors have the option to choose from three tier levels to realize average plan cost savings from 1% to 4.5%, with member impact as low as 0.1%.
To learn more about the Confidio RED List, please visit https://confidio.com/red-list/.
About Confidio: Confidio is a technology-enabled pharmacy benefits consulting firm. We optimize the value of your pharmacy benefits through transparency, accountability and advanced data analytics paired with deep insider expertise. We help you minimize drug spend while maximizing patient outcomes and satisfaction. Our reliable solutions are performance-based, results-driven and continuously validated.
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