Express Scripts, the largest pharmacy benefit management platform in the U.S., is creating new stand-alone digital health formulary designed to assist payers and their members through the huge number of mHealth services. Expected to embark on later this year, the digital health formulary will enable the company to vet connected health products for value and effectiveness. Last year, Express Scripts acquired by Cigna with USD54 billion amounts.
In a statement, Express Scripts Vice President of innovation and member experience Mark Bini stated that “We are in an exciting age when technology is giving people even greater control of their own health and well-being. However, much of this technology is still emerging, and there are many digital health solutions that require clinical review and validation.” The company’s new solution will provide payers a curated list of technology and software-enabled applications and devices that have been vetted for safety, effectiveness, and usability. Bini further added that “We see a need to put mechanisms in place to help carefully manage these innovations, and are proud to lead again by being the first health services organization to establish a formulary of this nature. This formulary will help ensure developers do right by payers and consumers while increasing patient access to technology that can help improve their health.”
Over the past few years, the Express Scripts’ project builds off to create vetting programs for mHealth applications. Apart from ensuring clinical effectiveness, the company says the formulary will also assist stimulate the adoption of digital therapeutics, with cutting down overall care management costs and advancing clinical outcomes. As per the announcement, the formulary will initially focus on mobile Health products for diabetes, cardiovascular and pulmonary care and behavioral health. It will then expand to encompass other chronic and complex conditions.