Consultant PBM Procurement
• 22,000 lives group with 3-year old PBM contract
• Consultant used BidLogic to reprice claims from many PBMs
• Group selected a network and specialty formulary model to
achieve PBM savings
Group was trapped in a legacy contract with multiple ancillary charges in the PBM contract. Group had concerns over moving to a new PBM due to system integration, longevity with the vendor, and concerns that reasonable savings were not feasible.
Consultant used BidLogic to reprice claims from several PBM vendors in less than 5 minutes. Over 100 PBM pricing scenarios across multiple network, formulary and specialty iterations were analyzed and reported. The consultant loaded Best and Final pricing and was repriced within less than 24 hours of receipt. All final offers were compared against the 100 offers and a final PBM solution was presented.
Consultant used BidLogic to report to client senior management the savings projected including utilization and inflation across all offers. Over 21% was achieved on final selected PBM vendor. The entire process saved the consultant $12K per client and resulted in savings of over $250K annually across all clients.