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BLUE BELL, Pa., Dec. 13, 2018 (GLOBE NEWSWIRE) -- Symphony Health, a PRA Health Sciences company and a leading provider of data, cloud-based analytics and consulting solutions to life science companies and healthcare organizations, today announces the availability of 340B Drug Discount Program data. This data may be integrated directly into the company’s PHAST® NonRetail Weekly and Monthly audits as well as NonRetailSource®, a comprehensive offering incorporating indirect and direct drug sales into institutions.
The 340B program comes from Section 340B of the Public Health Service Act, which in essence places pharmaceutical manufacturers in a pricing agreement with the government agency Health and Human Services (HHS). Under the agreement, manufacturers provide front-end discounts on covered outpatient drugs purchased by specified providers known as “covered entities” that serve the nation's most vulnerable patient populations.
As part of Symphony Health’s Enhanced Views program, which brings expanded data assets and enhanced market measurement capabilities to clients, the 340B Drug Discount data offers the most comprehensive view of program activity to manufacturers today. With tens of thousands of eligible covered entities, it would take an individual manufacturer a great deal of time and effort to collect data from these outlets, with limited visibility to the full market. Symphony Health collects near census coverage of all non-retail 340B activity from July 2016 to present, enabling manufacturers to receive timely and accurate data on not only their brands, but also competitor brands. Full and complete visibility to 340B data provides additional invoice transaction granularity - enabling deeper, outlet-level contracting and access analyses which help manufacturers to optimize their strategies in this important market.
Key components of Symphony Health’s 340B Drug Discount data within the PHAST® NonRetail audit include all products and markets reported at class of trade, sub-class of trade and different geographic levels as low as core-based statistical area (CBSA). Within NonRetailSource®, data for client’s markets of interest are reported at the individual outlet level across all 340B eligible healthcare organizations, and reported at the individual transaction level – across all products/forms/strengths.
About Symphony Health:
Symphony Health is a leading provider of high-value data, analytics, and technology solutions for biopharmaceutical manufacturers, healthcare providers, and payers. The company helps clients understand disease incidence, prevalence, progression, treatment and influences along the patient and prescriber journeys by connecting and integrating a broad set of primary and secondary data, and providing health research, analytics and consulting expertise. Symphony Health derived data improves health management decisions, and helps clients drive revenue growth while providing critical insights on how to effectively adapt to the changing healthcare ecosystem. For more information, visit www.symphonyhealth.com.
About PRA Health Sciences:
PRA Health Sciences (NASDAQ:PRAH) is one of the world’s leading global contract research organizations, or CROs, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes more than 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and over 15,800 employees worldwide. Since 2000, PRA has participated in approximately 3,700 clinical trials worldwide. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 75 drugs. To learn more about PRA, please visit www.prahs.com.
Media Contacts Heather Varela Symphony Health Director, Marketing Communications Heather.firstname.lastname@example.org (602) 463-7838 Roger Boutin PRA Health Sciences, Inc. Executive Director, Marketing BoutinRoger@prahs.com (434) 951-3924NEXT ARTICLE
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