PBM Contracting and Evaluation

Prescription drug expenses are one of the most complex areas of today's healthcare arena. Costs are rising at alarming rates and make up a large part of benefit-plan expenses for employers. Pricing is constantly changing, and new generic and specialty medications are being introduced every day.

The good news is that the way you contract with your Pharmacy Benefit Manager (PBM) can play a key role in helping you gain control over increasing pharmacy spend — while still delivering competitive, quality pharmacy benefits to employees.

Whether you're gearing up for a PBM change, or you just want to take a step back before renewing a PBM contract, Truven Health's objective experts, proprietary tools, and proven methodologies can help you:

  • Reduce pharmacy costs — without plan design changes or cost shifting
  • Minimize demands on your time through our robust PBM RFP solution
  • Negotiate a PBM contract that protects your interests rather than the PBM's
  • Ensure contract compliance with proprietary discount validation claims audit
  • Understand your pharmacy benefit costs and the opportunities to get more out of your contracts

Our clients typically experience an 8 to 15 percent reduction in their drug spends when using our custom contract. Recent results include:

 

Small Retail Company

Medium Coalition

Large Energy Company

Gross Annual Drug Spend

$13,178,795

$32,947,075

$74,190,047

Three Years Savings
via RFP Process

$4,504,432

$9,653,730

$25,495,239

Saving as Percent of Annual Spend

11.39%

9.77%

11.45%