Replay: 5 Ways to Improve Your PBM Procurement Process In 2024

The process to procure a pharmacy benefit management (PBM) solution has always been notoriously complex, arduous, and opaque. With increased scrutiny on PBMs – from both governmental bodies and plan sponsors – it is more important than ever to know, with confidence, that you are working with an aligned, transparent PBM that places the plan and your members’ benefits above everything else.

That’s why Bridget Mulvenna (VP of Business Innovation at Capital Rx) hosted a webinar on March 21, 2024, where she discussed 5 strategies that plan sponsors/fiduciaries, benefits managers, and other industry professionals can employ to improve pharmacy plan spend and the way PBMs are evaluated.

Bridget discussed how and why drug mix is the highest predictor of total plan cost, why interviewing PBMs with aligned models and transparent pricing is key, how controlling the over dispensing of drugs, with respect to auto refills, can affect a plan’s bottom line, and much more.

Check out the replay and the highlights below and click here for the presentation materials.

Highlights

• Why drug mix is the highest predictor of total cost [12:44]
• The importance of controlling over-dispensing [19:15]
• The case for breaking the addiction to rebates: [27:19]
• 5 questions to ask your PBM [32:34]

Related Content

• Pharmacy Benefit Procurement: How to Ensure That Savings Materialize
• PBM Procurement: A PMPM Guide for Plans Sponsors eBook
• 5 Recommendations for an Optimal PBM Deal eBook
• 4 Attributes of a Great PBM Partner eBook
• What Is the Role of a Pharmacy Benefits Manager (PBM)?

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Want to learn more about how Capital Rx’s PBM solution or have any lingering questions about the webinar? Get in touch with us today!

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