Pharmacy Benefits Consulting: Understanding the Options
The pharmacy benefits marketplace can be confusing to navigate. Every advertised solution will save 10-15% and it can hard to separate vendors from independent consultants and advisers. Because most vendors promise savings, an employer needs a trusted expert adviser to dig deeper than marketing slogans and savings promises.
An independent pharmacy consultant must:
- Be conflict of interest free. Your pharmacy benefit consultant should never receive any money from a PBM, pharmacy or pharmaceutical manufacturer.
- Understand the financial impact of pharmacy terms and definitions used in contract language.
- Provide clinical expertise on drug coverage decisions and be able to customize formulary options with staff PharmDs
- Implement a successful PBM RFP
- Provide ongoing monitoring and auditing to hold your PBM accountable to the terms in the PBM contract
Why Health Strategy?
- We have been the leading pharmacy benefit consulting firm in the industry for over a decade.
- As the adviser of choice for many Fortune 100 employers, we have negotiated some of the largest Pharmacy Benefit Manager (PBM) contracts in the industry.
- We focus exclusively on pharmacy benefits. As a privately-held company, we are conflict-of-interest free and do not receive or accept compensation, fees or any revenue from PBMs
Our team includes pharmacists, data analysts, software engineers, financial analysts and auditors. We even count a physician and actuary among our leaders. Whatever challenge you’re facing; we’ve been there and solved that.
However, anyone can claim they are experts. So what do the numbers say?Health Strategy’s numbers speak for themselves.
Your pharmacy benefit consultant must be conflict of interest free. Your pharmacy benefit consultant should never receive any money from a PBM, pharmacy or pharmaceutical manufacturer.