6 ways to supercharge your PBM search

The 2024 RFP season is the perfect time to reflect on the impact and effectiveness of your current pharmacy benefits manager (PBM). Are you ready for an upgrade?

prescryptive logo By: Prescryptive Health

With the 2024 RFP season here, now is the perfect time to reflect on the impact and effectiveness of your current pharmacy benefits manager (PBM). Are you ready for an upgrade?  

If you decide it’s time for a change, there are ways to ratchet up the RFP process and find the PBM you deserve. Whether you’re managing the process on your own or working with a broker/consultant, taking time to map out your must-haves will help you find a partner you can trust.  

  • 1. Define your goals

    Clearly understanding your goals up front and confirming potential PBMs are aligned to those goals allows candidates to differentiate themselves and helps you narrow down your choices. 

  • 2. Push for transparency 

    Transparency builds trust, right from the start. Ask questions about pricing, rebates, and lower-cost alternatives. Knowing more up front can lead to bigger savings down the road. 

  • 3. Demand data ownership

    Your data is yours, and the insights it provides can have major impacts. Make it clear that you own your data and your PBM must produce it upon demand at no cost. 

  • 4. Expect empowerment

    A pharmacy benefit solution should not only save your business money, it should also empower your employees and help them make informed decisions about their prescriptions. It all starts with a digital prescription on their phone, providing prescription portability at the point of care.

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    5. Get more

    All PBMs provide the same core functions, but many charge for every service, program, and report. To get the most for your money, look for a PBM willing to go above and beyond at no extra cost.

  • 6. Go beyond the “Big 3

    Finding a smaller player doesn’t mean you have to make sacrifices. For better pricing, dedicated customer service, and more flexibility, it pays to extend your search beyond the big brands you already know about. 

The PBM search doesn’t have to be daunting. If you’re not ready to fully move on from your current PBM, our member-empowerment platform, myPrescryptive, can seamlessly plug into your existing plan. Through secure text messages at the point of care, members will understand their prescription drug costs, insurance coverage, payment options, lower-cost alternatives, filling pharmacy, and more.  

1 Pharmaceutical Strategies Group (PSG) 2023 Pharmacy Benefit Manager Customer Satisfaction Report 

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Prescryptive Health
At Prescryptive, we believe the best experience drives the best outcomes and that by empowering the healthcare consumer with the ability to take ownership of their prescription, we can fundamentally change how the prescription drug market is delivered and consumed in the United States.

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