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Gold Standard/Elsevier Offers Timely, Transparent, Reliable Drug Pricing Data, Including Average Wholesale Price (AWP)

Tue, 05/18/2010 - 4:40am
Bio-Medicine.Org

TAMPA, Florida, May 18, 2010 /PRNewswire/ --

- Amidst Industry Unrest due to Drug Pricing Benchmark Upheaval, Gold Standard/Elsevier to Continue Publishing AWP and Other Pricing Standards

Gold Standard/Elsevier, publisher of drug information databases and decision support solutions, has announced its commitment to continue publishing transparent drug pricing information, including average wholesale price (AWP) and all other current and future pricing benchmarks. This announcement comes amidst statements by other drug database suppliers indicating they will discontinue publishing AWP in 2011.

"Gold Standard reports all drug pricing standards utilized and required within the industry, and we intend to continue doing so," stated Kay Morgan, Senior Vice President, Drug Product and Industry Standards Research and Compliance for Gold Standard/Elsevier. "We understand the frustrations felt by those who rely on AWP and expect stability and dependability from their drug databases. We look forward to providing a reliable and flexible resource for pricing industry-wide, including AWP and any new benchmarks, through our Alchemy drug database and ProspectoRx pricing analysis tool."

Gold Standard/Elsevier supports transparent price benchmarks for payers (health plans, patients, government agencies and employers), pharmacies and other providers for prescription drugs. The company publishes reported and calculated drug prices that are clearly distinguished within the database, and adheres to strict internal policies for populating reported versus calculated pricing fields. Drug company reported prices of AWP, WAC (wholesale acquisition cost), CMS FUL (Federal Upper Limit), and Direct Price are included in Gold Sta

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