Pharmacy Benefits Consulting and Contract Reviews
Prescription drug spending now makes up as much as 25-30% of your total company’s healthcare cost. ExudeRx, a pharmacy consulting practice with a team of Certified Pharmacy Benefit Specialists (CPBS) are able to deconstruct your prescription program, and create greater transparency and more advantageous contracts, allowing for an immediate reduction of cost (many time upwards of 30%). Best of all – there is no change to benefit or plan design. As one of only 600 Certified Pharmacy Benefit Specialists in the country, ExudeRx can help reduce the cost of this unnecessarily expensive employee benefit. Our Services include:
Our consulting practice begins with a contract review to determine the strength and transparency of your current PBM contract. The ExudeRx team will assess your benefit design, along with your company’s needs, to identify cost-saving options.
Sourcing & Contracting
Once the contract assessment is complete, the team conducts PBM sourcing, utilizing elements of traditional market re-pricing, RFP and reverse auction techniques, to obtain improved pharmacy benefit pricing for your plan. Our team ensures these terms are developed into a strong, transparent PBM contract.
Working with the PBM, third party administrator and your team, the ExudeRx team guides your plan implementation, from set-up to go-live with your employees, in order to minimize any disruption issues that may arise.
Monitoring is a crucial tool to ensure you get what you pay for. We offer a range of customized reporting, analysis, market check/monitoring, and audit services to make sure the performance of your benefit and PBM are aligned with the contract terms.
To reduce your pharmacy benefit cost in a sustainable manner and gain transparency into your PBM relationship, contact Exude for a free contract assessment and areas of opportunity for your organization.
Managing Benefit Spend in a Self-Funded Arrangement
As a self-funded organization, the rising cost of providing healthcare benefits was creating a financial challenge for a small, family-owned business. Learn more about how ExudeRx saved the client $24,000 in the first two months of a new PBM relationship.
Reducing Benefits Costs with Minimal Employee Disruption
Click here to learn how the ExudeRx team was able to use our sourcing model to create $603,000 in savings with minimal employee disruption.
Reducing Rx Costs While Maintaining Benefit Quality
This client sought ideas to reduce cost while maintaining the quality of benefits for their employees. Click to read more about ExudeRx was able to preserve their benefits while still saving 49% in costs.