RX Management – PBM
One to three years. We recommend only a one year contract.
Why? AWP – Rebates – Formulary changes Markets pricing improve every year.
We have taken clients on three year contracts and compared to them to year by year and we have always performed better on a year to year contract.
Timing of RX contract procurement
On-going Third-party Monitoring
Vendor Competition
Claim monitoring – 100% of RX claims, ensures that the claims are being adjudicated per the employers contract. Make each AWP and rebate stand on their own accord/merit/performance ∙ AWP guarantee
Competition – Market may only call for 10% but by creating competition. RFP creates a dynamic competition. Employers can see on average 20% or more in improvements when creating competitive environment.
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