Table 4.
Impact of the Value-based Formulary on medication and non-medication expenditures per member per month
| Expenditures (US $) | Observed Estimatea | Expected Estimateb | VBF Impact | P Value |
|---|---|---|---|---|
| Medication Expenditures | ||||
| Member (95% CI) | 17 (16, 18) | 15 (14, 16) | 2 (1, 3) | 0.004 |
| Health Plan (95% CI) | 64 (56, 72) | 74 (63, 84) | −10 (−18, −2) | 0.02 |
| Overall (95% CI) | 80 (72, 89) | 89 (79, 99) | −8 (−15, −2) | 0.01 |
| Non-Medication Expenditures | ||||
| Member (95% CI) | 61 (60, 64) | 64 (60, 68) | −3 (−6, 1) | 0.20 |
| Health Plan (95% CI) | 293 (267, 320) | 292 (257, 327) | 2 (−35, 38) | 0.91 |
| Overall (95% CI) | 355 (327, 383) | 356 (318, 393) | −1 (−39, 38) | 0.95 |
| Grand Total Expenditures | 436 (406, 465) | 445 (406, 483) | −9 (−49, 30) | 0.63 |
a
Observed (i.e. factual) estimate: regression-based adjusted estimate of expenditures in the intervention group in the post-VBF period if the VBF had been implemented
b
Expected (i.e. counterfactual) estimate: regression-based adjusted estimate of expenditures in the intervention group in the post-VBF period if the VBF had not been implemented