Haylor, Freyer & Coon has partnered with a Pharmacy-focused healthcare IT company. For clients and prospective clients this means we can now have access to a technology platform enabling us to conduct an initial review of your Prescription Drug (Rx) program and reduce your pharmacy spending in the following methods:
- Introduce the most aggressive bidding/procurement process in the industry for Pharmacy Benefit Management (PBMs) services in order to achieve the best pricing and contractual terms.
- Review and implement contracts with the winning bidder to ensure the terms and conditions are most favorable to your business and not the PBM.
- Upon commencement of the contract, we monitor all PBM activity (not just a “statistically valid sample“) for accuracy in accordance with your newly drafted contract. This monitoring rolls up to performance guarantees that are viewed quarterly, do not allow cross-subsidizing (you’ll learn that term), and are defensible and collectable.
The results so far have been compelling, with clients saving between 5%-12% of their annual drug spend…..and some results are higher. With just one year of Rx claim data, we can prepare an analysis that will show you financially and quantitatively just how much you can save on prescription drug costs. Invest the time – it will pay dividends for years and finally bring clarity to your PBM contract!