As we all know, prescription drug costs are very hard to quantify over time. Costs are a moving target, changing constantly. Comparing PBM’s cost basis is next to impossible.
Perhaps the best method in comparing PBM costs is to change PBM’s and perform a retrospective analysis between the two competing vendors.
In October 2015 we moved a large group from one PBM to another. Prior monthly Rx costs averaged $52,000. In the four month period ending January 2016 the average monthly Rx spend reduced to $38,000, representing a 26.9% drop in Rx costs.
Claim lag under Rx is slight, so these numbers are extraordinary.
Send Comments to RiskManager@RiskManagers.us
FROM AUDIT COMPANY
From what PBM did you move and to whom did you move that produced such high quality results? PBM/RX is as hard to hit as a hummingbird with a rifle.
FROM STOP LOSS CARRIER
People who have met their deductibles, tend to load up in final months. Would be interest to see what happens the rest of the year.