What is the MP1 Rx Formulary Manager?
The new MP1’s Rx Formulary Manager powered by Bird’s Eye is the only cloud-based formulary platform that can instantly filter 82 district data points from any National Drug Code (NDC).
In simple terms, the Rx Formulary Manager can quickly and accurately identify DEA controlled substances, and hazardous and non-hazardous medications, ensuring that your practice is always up-to-date and compliant with federal and state regulations.
In addition, it gives customers access to an easy-to-read medication summary, including waste classification and disposal instructions.
How is it Beneficial to the Customer?
The primary purpose of this product is to help classify each Customer’s Formulary and provide them with necessary disposal instructions.
Additionally, this product enables your practice to comply with current NDC regulations, preventing any possibility of getting fined for improper waste disposal. It also helps identify patent expiration dates for the medications and instantly displays the DEA Schedule Drugs.
Ultimately, this product saves time and money by reducing the risk of penalties being imposed on your practice.
How does it Work?
The process when using the Rx Formulary Manager is simple. It is a cloud-based formulary platform where you can upload an NDC records spreadsheet to Birds Eye’s “Feed the Bird” feature, and the Formulary will characterize thousands of records to help manage the entire Formulary and maintain compliance with regulations.
The Bird’s Eye database consists of 82 data points on each NDC, including data on how to dispose of the medication. It also allows you to search through the records with various filters such as product name, substance name, and more. The software also enables you to visualize the data, break it down by waste class, and click on any record to see a profile of the medication with various information about the product.
The Formulary App is available as a monthly at-fee or annual subscription, and customers should contact a MedPro customer advocate for details on specific pricing.
Currently, healthcare organizations attempt and commonly struggle to manage their Formulary through complex, color-coded spreadsheets.
Unfortunately, those spreadsheets quickly become outdated as new medications are added, and other drugs are discontinued, which will impact the accuracy of the spreadsheet regarding Federal and State regulations.
Lastly, MedPro’s formulary management system (Powered by Birds Eye) helps avoid potential fines from the Drug Enforcement Agency (DEA) and maintains state requirements for Controlled Substances, keeping your practice safe.
