Pharmacy Benefits Consulting

For Employers

How does your pharmacy benefits contract measure up to other companies your size? How about compared to Health Strategy’s best practice contract? If your perspective is limited to the details of your own plan, it’s time to expand your view. Health Strategy offers you vast market intelligence to maximize the value of your pharmacy benefit investment.

Save 10-20% on
your total
pharmacy spend

Self-funded employers who work with us typically save 10-20% in the first year of a new contract. Locking in market competitive rates is an important factor, but so is clarifying critical definitions and pricing conditions. The clearer your contract, the more you can avoid costs or find savings.

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Get help pushing back against one-sided contracts.

Pharmacy benefit managers (PBMs) create most contracts, and the PBMs often have incentives that conflict with yours. Health Strategy ensures a better balance of benefits and costs—for your employees and company. Plus, with our experience, you’ll know when and where it’s most appropriate to keep negotiating—or move on.

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You’ll benefit from deeper analysis and greater customization.

Health Strategy models more than 35 cost factors when analyzing your situation and possible savings. We dig deep to understand your specific needs and ensure you achieve the most competitive deal possible. Our customized recommendations maximize your savings without sacrificing quality or the priorities of your company and employees.

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Enjoy an unparalleled level of support.

Health Strategy provides a comprehensive set of services before and after your pharmacy benefits contract is signed. This includes:

  • Managing a contract renegotiation
  • Running the RFP process and evaluating bids
  • Conducting a Contract Vulnerability Assessment (CVA)
  • Detailing your Savings Feasibility Assessment (SFA)
  • Advising on PBM-proposed amendments to your current contract
  • Consulting on plan design optimization opportunities
  • Advising on new-to-market or high-cost drug situations
  • Providing quarterly reports to track PBM performance
  • Completing a financial reconciliation at the end of each year

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It’s always a good time to explore savings and improvements.

It doesn’t matter if your pharmacy benefits contract is expiring in three months or three years. Health Strategy can help you identify vulnerabilities, quantify savings opportunities, and prepare you for a contract renegotiation—or the RFP process, if necessary.

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“We engaged Health Strategy to help guide our pharmacy strategy in 2010 and have been working with them ever since. The return on investment every year has been greater than 15:1.

Health Strategy is engaged on every one of our PBM and pharmacy related calls to ensure they are up to speed on all facets of our pharmacy benefit. They weigh in and provide recommendations on all pharmacy strategy decisions. Working closely with us, they created our plan design, created a custom formulary and provide ongoing management of it. These items have allowed us to enjoy a world class 89% generic dispensing rate with significant annual savings.”

–Benjamin Ryder, Sr. Benefits Manager, Whirlpool Corporation

Check out the latest news, insights, and updates from Health Strategy.

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Applying Machine Learning to Solve Complex Industry Problems

Health Strategy is committed to utilizing the most cutting edge technology available. This means capitalizing on the recent explosion of interest in machine learning.

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