Building business relationships with your benefit vendors is an excellent way to maintain a competitive advantage. These connections may allow you to ask questions about services or how to improve member engagement, which you may not have felt comfortable asking in the past. The problem is that as HR Professionals and/or Benefit Managers, you don’t have time or resources to dive into the details of each voluntary benefit your company offers. A pharmacy benefit consultant can help facilitate the relationship and provide value-added services for improving your overall pharmacy benefit program.
Maybe you just completed a Request for Proposal (RFP) and selected a new PBM. During the finalist process, you reviewed the guarantees, talked about member experience, and heard how a different PBM partner can improve spend and trend. Embarking on a new journey of savings and service is exciting, but now that you’ve made the right choice in a PBM, how should your consultant help you? Remember those enticing items that were discussed during the RFP stage? A pharmacy benefit consultant will ensure that the appropriate elements are incorporated into the new contract. From rates to guarantees, working with a pharmacy consultant provides reassurance that your new PBM relationship is off to the best possible start!
Or perhaps you’re well past the RFP stage and you enjoy working with your PBM. You have a great relationship with your account team and your savings reports look good. You might even be thinking, “Do I really need a consultant?” Yes! Pharmacy benefit consultants will offer expert vigilance, providing regular checks on contract performance guarantees, market intelligence, and new savings initiatives. With adequate savings performance, it can sometimes be easy to stay with the status quo, carrying on with what has “always worked.” Partnering with an experienced consultant will bring confidence that innovative opportunities are being investigated and presented, not only to safeguard current savings but to provide options for plan enhancements.
Whatever stage of the PBM relationship you are in, PillarRx’s pharmacy benefit consultants can help by monitoring contract performance, ensuring that financials are competitive in the marketplace, and bringing actionable opportunities for program improvement.