TAKE FIVE – Invigorate: A Cliff Note Series on Pharmacy Benefit Management
Over the past four weeks we have discussed finding a trusted advisor to educate you on the current pharmacy benefit landscape, investigating your benefit plan designs, pulling your claims data for analysis, validating for opportunities to improve and tighten up your contracts - its pricing and clinical programs - to eliminate waste, and create a roadmap to better pharmacy management. Now let's focus on how all of this adds up to reaping the benefits of your new and improved contract, clinical and medication assistance programs and daily oversight!
WEEK 5 - TAKE FIVE to InvigorateThis is where you as a self-funded employer get to reap the rewards of taking the reins, kicking the tires, and engaging with knowledgeable PBM professionals to look at alternatives. This is where you get to be served by a trusted advisor who has your best interest in mind, is highly experienced, knowledgeable, and laser focused on YOU, YOUR interests and YOUR goals. At this point, you have engaged with a team of dedicated pharmacy professionals, and are enjoying many benefits of taking control of your pharmacy benefit management.
Benefits of Focused Pharmacy Benefit Management
- Reviewing your high cost claims daily - looking for opportunities for less expensive drugs and identifying patients just starting on specialty medications to enroll them in pharmaceutical copay assistance programs.
- A pharmacist doing outreach, again based on claims, to identify those who qualify for diabetes therapy management programs.
- Reduced contractual pricing and improved rebate revenues.
- Ability to do a market check after 18 months into this new contract.
- Higher medication adherence to improve health, reduce absenteeism and reduce your total healthcare costs.
- Most of all - and maybe the most important - a Pharmacy Advocate for you and your benefits consultant to connect the dots and ensure all waste has been eliminated and savings opportunities explored.
If this isn’t INVIGORATING, I don’t know what is! We work directly with self-funded employers and we also engage with your broker/consultant as their subject matter expert. Everybody wins. What you don’t know CAN hurt you. What will a 10% to 20% savings mean to your bottom line - even staying with your current PBM with improved terms and services?
Let Synergy Help YOU With Your Pharmacy Benefit Plan!
Pharmacy benefits are complicated, but services are available to help employers understand the complex prescription drug ecosystem. These services give employers and brokers the confidence that they can secure competitively priced PBM contracts, and maintain affordable, high-quality prescription drug coverage for their employees. So, for employers with midyear medical and pharmacy contracts expiring who are troubled by benefit costs and increasing trends, why not schedule a 30 minute conversation with me to discuss your concerns and needs!
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Pharmacy Benefit Management Solutions
2111 Bagnell Dam Blvd #37
Lake Ozark, MO 65049