Tuesday, April 6, 2021

Tuesday Tip of the Week: Benefits of Working with a Fiduciary-Model PBM

Seemingly every week there is a new PBM with a new-to-the-world business model that will change the landscape of pharmacy benefits management forever. They are marketing pitches at best. Sophisticated purchasers of pharmacy benefit management services interpret these marketing pitches different from those decision-makers who don't know what they don't know.

Sophisticated purchasers of pharmacy benefits say, "sure you'll probably save us 15% but our actual savings potential is closer to 50%. Consequently, you are going to keep the 35% difference for yourselves." It is with both critical and trained eyes that pharmacy benefits management services should be purchased.

Frank Kohn, CHC wrote this about the webinar, "Just wanted to share that this was one of the best, in-depth, presentations I've seen on Rx. I've been in the business 35 years and that's not an easy feat to impress me! Well done." The bottom line is no matter the PBM's marketing message self-funded employers must obtain Radical Transparency. 

Radical Transparency delivers as much as 50% cost savings and elimination of wasteful spending. Radical Transparency is defined as the self-elimination of all hidden PBM cash flows and full disclosure of management fees, including their sources, on a plan-specific basis. Watch the recording of the webinar and get on the path to radical transparency.

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