Traditional pharmacy audits are great for analyzing every claim and ﬁnding discrepancies down to the penny. However, not all customers have the need, time, or resources necessary to complete these audits. That is why PillarRx created a solution – the TurboAudit!
Like a PillarRx annual pricing audit, we maintain an effective system of controls vital for achieving your business objectives, obtaining reliable financial reporting on your operations, preventing fraud, and misappropriation and minimizing the cost of capital. Our pharmacy benefit management auditing services are built upon proven, reliable technology.
So, what exactly are the 3 components of the TurboAudit? Let’s find out!
1. PBM Contract Assessment
PillarRx’s contract assessment begins with a thorough review of your current PBM contract.
Our review team of experienced professionals has completed hundreds of PBM contracts
for customers of all sizes. A PillarRx contract review identifies gaps in contract language and
financial performance. Upon analysis, PillarRx will determine if your PBM is performing up to
agreed-upon contract terms or if they are falling short.
2. Claim Data Loading
Our unique approach is to effectively control prescription drug costs and use our forward-thinking strategies to break down silos, driving efficient interaction across the pharmaceutical supply chain. PillarRx loads 100% of your claim data for up to one year of claim data. Following the claim data being loaded, we run a data forensic on the files. This forensic identifies any anomalies.
3. Quantitative Comparison
To make a sound financial validation of your current PBM’s performance, PillarRx compares the following:
- Current contract rates
- Actual PBM claims data pricing
- Benchmarked PBM rates for similar-sized clients
Curious if the TurboAudit is right for your organization? Contact us today to find out!