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Xevant Case Study: PBM Pricing Improvements

October 21, 2019

 

•    Group with 200,000 lives and 3-year-old PBM contract
•    Using BidLogic compared multiple pricing offers including network and specialty variations

 

 

Problem:

Employer group interested in retaining incumbent PBM but desired more favorable pricing and contractual terms based on basic knowledge of PBM landscape.  Approached consultant to issue a costly RFP. Consultant sought price improvement from PBM in an attempt to retain incumbent which resulted in marginal but pricing adjustments. 

​Solution:

Using BidLogic, consultant instantly compared multiple pricing offers from many PBMs including network, tiered formulary, and specialty variations.  Consultant was also able apply increased utilization and inflation projections for a three-year savings model for the customer. Consultant used BidLogic presentation template to provided pricing conclusions and make PBM recommendations.

Impact:

Armed with the savings available through BidLogic, consultant negotiated with the incumbent PBM and avoided the cost of a full RFP ($30K). Through improved pricing strategies, consultant saved the group 34.5% in annual plan costs (>$10M over 3 years). Further reduced costs expected through implementation of utilization management programs.

 

 

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