Earlier this year I moved a client from a BUCA PBM to an independent PBM. No benefit or formulary changes were made. Now that I have mature credible claim data on the move from the BUCA PBM to an independent PBM, I find Rx claims have reduced 30.1%.
BTW – when I told the BUCA rep. earlier this year that we were bidding out the PBM she came back a week later with “Good News! We were able to get better rates and based on your client’s current Rx cost, next year’s will reduce $600,000!” (She sent that in an email which I think I should frame)
Well, of course that was nice to hear. So we bid out anyway and guess what? It looks like the savings will be $1.4 million.
What a nasty business……………………………
From One Of Our Clients
That is absolutely crazy, and it shows how much those insurers and PBM’s are raking off the top. It seems to me that their entire business model may be in jeopardy in the not too distant future. Certainly, their profitability is going to suffer in the near term as more and more businesses discover this. Independent PBM’s and even independent TPA’s is going to be the future.
