AI Benefits PBMs, Health Plans and Formulary Decision Making | AMCP Nexus 2024
Health plans and PBMs are using AI to aggregate data, summarize information and enhance their formulary decision-making processes, according to Douglas S. Burgoyne, Pharm.D., MBA, FAMCP, adjunct associate professor at the University of Utah College of Pharmacy.
Douglas S. Burgoyne, Pharm.D., MBA, FAMCP, adjunct associate professor at the University of Utah College of Pharmacy, said that while it has some complexities, AI is largely beneficial.
“In terms of data aggregation and summarization for trending and reporting, it's tremendously valuable for us,” Burgoyne. “It takes less time for our analysts to do their job, which makes the clinical pharmacy team better able to respond quickly and hopefully to make even better decisions in terms of formulary.”
Burgoyne attended AMCP Nexus 2024 last week, held at the MGM Grand in Las Vegas. He spoke at two sessions. The first was ‘AI in Healthcare: From Cutting Edge Innovations to Practical Applications in Formulary Decision Making.’ The second was called, ‘Executive to Executive: Leading Managed Care Organizations Today.’
“In terms of data aggregation and summarization for trending and reporting, it's tremendously valuable for us,” Burgoyne. “It takes less time for our analysts to do their job, which makes the clinical pharmacy team better able to respond quickly and hopefully to make even better decisions in terms of formulary.”
Burgoyne attended AMCP Nexus 2024 last week, held at the MGM Grand in Las Vegas. He spoke at two sessions. The first was ‘AI in Healthcare: From Cutting Edge Innovations to Practical Applications in Formulary Decision Making.’ The second was called, ‘Executive to Executive: Leading Managed Care Organizations Today.’
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