by Team PCM | Aug 15, 2023 | Blog Post, Contract Management, Plan Management
In the ever-evolving healthcare landscape, benefits brokers, consultants, and TPAs face the daunting task of making critical decisions that impact the client’s financial standing and their members’ well-being. Balancing cost-effectiveness with quality care...
by Team PCM | Jul 19, 2023 | Blog Post, Contract Management
Drug discounts are reductions in the cost of prescription medications as negotiated by pharmaceutical manufacturers and Pharmacy Benefit Managers (PBMs). The PBM acts as an intermediary between the pharmaceutical manufacturers and the self-insured groups, negotiating...
by Team PCM | Jun 19, 2023 | Blog Post, Contract Management
In the ever-evolving healthcare landscape, pharmacy benefits are crucial in ensuring affordable medication access for patients and plans. Pharmacy benefits contracts establish the terms and conditions under which insurance plans cover prescription drugs. The annual...
by Team PCM | Apr 14, 2023 | Blog Post, Contract Management
Five Metrics to Evaluate Pharmacy Contract Performance Brokers can evaluate pharmacy contract performance by monitoring several key performance indicators (KPIs) and assessing how well the contract meets clients’ needs. Below are five metrics that brokers should use...
by Team PCM | May 24, 2022 | Blog Post, Contract Management
When evaluating a PBM contract at renewal or mid-term market check, brokers and plan sponsors should be asking questions. Questions that lead to a thorough understanding of their current PBM contract so they can negotiate better, plan-centric programs. Beyond basic...
by Team PCM | Mar 17, 2021 | Blog Post, Contract Management, Data Analytics
60% of employers report that the cost of their current pharmacy plan is unsustainable. Without requesting bids from vendors or restructuring benefit strategies, there seems to be little that employers can do to contain costs. However, buried in the seemingly endless...
