We’ve spent decades in pharmacy benefits consulting and know it is a confusing and complex slice of the confusing and complex health care delivery system.
That’s why we developed P3, Pharmacy Procurement Platform, to allow brokers, consultants and payors (unions, collations, corporations, managed health organization and third-party administrators) an easy way to find a new PBM relationship or ensure the current relationship is market competitive. P3 is a product delivered by Pharmacy Investigators and Consultants.
The project lead is PIC’s Data Scientist, Bennett Tomlin.
Executive Sponsors are Susan Hayes and Kevin Johnson.
It is supported by Mike Foster.
We believe that finding a PBM relationship and keeping a PBM relationship should be based on trust between the PBM and the client. Unfortunately, there is lack of trust in this industry because PBMs make “secret” spread pricing (about 10% of costs) and retain “secret” rebates and other manufacturer paid money for preferring high cost drugs. It’s a one-sided deal. PBMs stack the deck with pharmacists, economist and attorneys against human resource generalists. No wonder PBMs are winning. When there is secrecy and no transparency, there is no trust. We take a different and resourceful approach. Before you select a PBM, know if what PBMs are offering is a competitive deal including reviewing contract terms. We have done the homework for you by finding flexible PBMs, getting the contract terms upfront and describing the PBMs for you so that you can make you own choice. Reach out to the PBM and discuss issues important to your organization like disruption, cost savings and flexibility. And finding a PBM should not cost you an arm and a leg. We make the solution cost effective and affordable with no long-term three-year deal and no obligations. And if you still aren’t comfortable, we offer a full suite of pharmacy consulting services to help make decisions and answer questions. Transparent, Resourceful, Cost Effective.
We are giving our competitors the benefit of the doubt that they can recalculate claims under various pricing terms. But if you are using a resource that makes PBMs pay to be on the platform, then incentives are misaligned. Do we favor the PBM that pays us the most? Do we say the deal is pass through when it is not? And PBMs should not pay us when they “win” a client because sometimes a broker or consultant just needs validation that the current deal is a good one.
Any questions and you can contact us at: mike.foster@pharmout.com or at 847-540-9590 ext (106).