Gold Standard to Market New Drug Pricing Tool

Drug database vendor Elsevier/Gold Standard will market a new standard for drug pricing that is touted as more accurately tracking true drug acquisition costs.

The company will be the exclusive distributor of Predictive Acquisition Cost pricing from Glass Box Analytics. The current standard for pricing to set contract terms and adjudicate claims is the Average Wholesale Price, called AWP.

The Predictive Acquisition Cost, called PAC, uses predictive analytics to consider various factors when estimating acquisition cost of a drug, such as maximum allowable cost benchmarks, published price lists, existing price benchmarks, drug dispensation metrics, supply-demand measures, and survey-based acquisition costs, according to the companies.

Elsevier will include PAC in its Gold Standard Drug Database product and price file, and also offer it as a stand-alone module.