Eaton Apothecary Selects Predictive Acquisition Cost (PAC) Drug Price Type
Holliston, Mass.-based pharmacy chain selects PAC from Elsevier / Gold Standard and Glass Box Analytics
Tampa, FL, June 28, 2012 - Leading drug information provider, Elsevier / Gold Standard, announced today that Holliston, Mass.-based pharmacy chain Eaton Apothecary has purchased the new Predictive Acquisition Cost (PAC), developed by Glass Box Analytics and exclusively sold by Elsevier / Gold Standard.
Introduced earlier this year, PAC is a new drug price type that more closely tracks true acquisition cost. PAC employs predictive analytics techniques to estimate acquisition cost considering various factors, including MAC benchmarks, published price lists, existing price benchmarks, drug dispensing metrics, supply-demand measures, and survey-based acquisition costs. Independent tests show that PAC tracks drug acquisition cost with sufficient accuracy to support pricing activity.
“Glass Box Analytics has done an exceptional job developing the new price type, PAC,” said Eaton Apothecary Vice President of Operating Policy John H. Lynch, III. “We are eager to begin using PAC for our company and look forward to the growth potential the new tool will offer as we integrate its intelligence into our existing systems.”
Eaton Apothecary has 16 locations, including traditional retail pharmacies and those focused on home delivery and specialized care. As a classic community-centered pharmacy, Eaton Apothecary prides itself for its commendable one-on-one service with patients. With a reputation in the industry as an early-adopter of new, enhanced technologies and marketplace trends, Eaton Apothecary selected PAC, adding to the company’s competitive edge.
“We are excited to be working with Eaton Apothecary as they begin to implement PAC into their systems,” said Marianne Messer, Elsevier / Gold Standard President. “We have confidence that PAC meets the industry need for a drug price type that is a close indicator of true acquisition cost, and is accurate, transparent, comprehensive and timely.”
Eaton Apothecary plans to utilize PAC for reimbursement analysis, wholesaler request for proposal processes with standards for deviations from the PAC price type, and as a cash pricing base.
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Elsevier / Gold Standard
Based in Tampa, FL, Elsevier / Gold Standard uses innovative technologies to provide a complete suite of drug information and decision support solutions. With a tenacious commitment to product quality, Elsevier / Gold Standard solutions empower healthcare organizations, professionals and consumers to meet the most pressing healthcare challenges, improve patient safety and ensure optimal outcomes. To learn more about Elsevier / Gold Standard, visit www.goldstandard.com.
Elsevier is a global information analytics business that helps scientists and clinicians to find new answers, reshape human knowledge, and tackle the most urgent human crises. For 140 years, we have partnered with the research world to curate and verify scientific knowledge. Today, we’re committed to bringing that rigor to a new generation of platforms. Elsevier provides digital solutions and tools in the areas of strategic research management, R&D performance, clinical decision support, and professional education; including ScienceDirect, Scopus, SciVal, ClinicalKey and Sherpath. Elsevier publishes over 2,500 digitized journals, including The Lancet and Cell, 39,000 e-book titles and many iconic reference works, including Gray's Anatomy. Elsevier is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.elsevier.com