So, what does this mean for you?
Simply put, specificity and speed.
Pharmaceutical manufacturers
Pharmaceutical manufacturers use the GPI to collect and analyze real-world evidence of how a drug or drug class performs, review population health data, and better understand costs.
Retail pharmacy
Retail pharmacy uses all 14 characters of the GPI to enable pharmacists to find and process exact orders. For example, pharmacists can use the system to identify all brand and generic options for a medication prescribed as a 10 mg tablet.
PBMs and payers
PBMs and payers use the GPI to develop formularies and determine co-pay tiers. The GPI structure provides flexibility, allowing PBMs to include or exclude drugs from different tiers based on a variety of factors, including single ingredients.
Analytics firms and consultants
Analytics firms and consultants use the GPI to evaluate patient trends based on medication therapies; for example, all patients taking ACE inhibitors plus at least one other prescription drug.