CLIENT SUCCESS STORIES
Our clients were concerned about the rising cost of prescription drugs. Our detailed, proprietary, analysis of their de-identified prescription data not only proved what the state audits are showing. Our clients had the courage to believe the data and not the status quo. They decided to change to a transparent PBM that utilizes fiduciary standards and save $Millions!
The results speak for themselves!
"Our PBM partner currently has over 2 million people covered and has produced some incredible results."
A Pittsburgh Corporation retained us to analyze their current prescription data and negotiate an agreement with the incumbent TPA to significantly reduce their monthly admin fee, producing an overall 25% annual savings.
A Large Third-Party Administrator retained us to conduct and evaluate RFPs. Because of our analysis, the TPA replaced its existing PBM thereby cutting costs by 14%. The TPA was one of our very first clients and is still with us today.
A Self-Insured Transportation Company with 3,000 employees retained us to do a PBM audit of their traditional PBM and respective formulary. First, our transparent approach identified and achieved 33% initial savings which the client booked it on 90 days. Secondly, a year after a complete transition to our new, “fiduciary” PBM, the client experienced an increase from the initial baseline due to age, specialty drug and overall utilization increases. As an additional precaution, we submitted the entire claim file back to the old PBM for benchmarking purposes. With the old PBM, the client would have been charged an additional $2,000,000 in spread pricing! Annual audits, by big data, continue to validate their decision to change.
A Self-Insured Energy Company with 5,122 employees retained us after a comprehensive RFP process. We drafted an entirely different form of contract [fiduciary] that enabled the energy company to use on-site Health Clinics to dispense medications and monitor patient adherence. Because we x-ray claims data, aggressively manage utilization and target high-cost drugs to implement better management and cost controls, the energy company reduced PBM service costs by 27%.
Well AdvisedRxperts, Jamie Linkowski and Russell Livingston, proved that proper due diligence and "Choosing the Harder Right over the Easier Wrong" can solve issues in ways never imagined, keeping retirement plan professionals incredibly relevant despite the best efforts of pundits and politicians alike.
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