Author Question: What is a formulary, and how do insurance companies save money by using a formulary for prescription ... (Read 73 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?

The FDA recognizes 118 routes of administration.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

For a complete list of videos, visit our video library