Author Question: What is a formulary, and how do insurance companies save money by using a formulary for prescription ... (Read 68 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
What is a formulary, and how do insurance companies save money by using a formulary for prescription drug coverage?
 
  What will be an ideal response?

Question 2

Describe the practicum experience.
 
  What will be an ideal response?



mjbamaung

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

A formulary is a list of medications in each category of medication that the insurance company will pay the most for.For example, a medication on the formulary may have a 10.00 copayment, and medications that are not on the formulary may have a 25.00 copayment or not be covered at all.Formularies save money for insurance companies who contract with pharmaceutical companies to get lower prices for having the medication on their formulary.

Answer to Question 2

A practicum is an educational learning opportunity outside the classroom that gives students hands-on experience. It is the final phase of an accredited medical assisting program.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

For a complete list of videos, visit our video library