“PSG helps corporations make sense of their pharmacy spend…They are simply amazing…Their value has far surpassed anything we expected. Their work has a guaranteed ROI and I have never seen anyone do better what they are doing.”
— HR Executive for a consulting and systems integration firm
About PSG
The pharmacy benefit management landscape has evolved into an extremely murky and complex industry and PSG knows that in order to effectively manage pharmacy programs, plan sponsors must be able to clearly measure them.
PSG’s professionals are veteran insiders from the pharmacy benefit management (PBM) industry with direct experience and expertise in pricing, contracting, design, clinical management, operations, data warehousing and analytics, benchmarking, and prescription claims auditing. PSG’s intellectual capital and technological resources combine with real-world experience to cut through the fog of pharmacy data, supply chain practices, and financials to provide our clients with the information they need to make clear, informed decisions and achieve optimal program performance. As a direct result of our industry knowledge and expertise, PSG secures hundreds of millions of dollars in savings for our clients every year. The strategies employed by PSG consultants allow plan sponsors to gain immediate control over their pharmacy benefit spend, while positioning their program to successfully negotiate the pharmacy benefit challenges of the future.
PSG has been providing pharmacy benefit consulting services since 1994, during which time we have engaged in over 500 PBM procurement and contract negotiation engagements. In October 2004, PSG acquired AELRx and merged its operations into the current PSG structure. Today, we are the largest independent pharmacy benefits consulting firm in the U.S. We focus exclusively on pharmacy benefits. As a result, we have developed a depth and breadth of expertise unparalleled in the industry.
Our Mission
To design and implement highly customized strategic pharmacy benefit management solutions that allow our clients to maximize the value of pharmaceuticals in their population.
Our Values
These distinguishing factors have resulted in PSG’s unique and time-tested ability in:
- Integrity.
- Commitment to Excellence.
- Focus on Quality.
- Professional standards–rigorous.
- Peer review–zero errors.
- Timeliness.
- Soundness of advice.
- Hard work.
- Mutual trust and respect.
Our Approach
PSG uses a Six Sigma-based, continuous improvement (CI) process in order to maximize the value of our clients’ pharmacy programs. The result is lower costs, better vendor and plan performance, and higher member satisfaction. Our clients also enjoy lower drug trend rates (i.e., the annual percentage by which drug expenditures increase), better integration and linkages with their medical and disease management (DM) programs, and higher satisfaction levels with their PBM relationships.
With a focus on maximizing financial results, PSG concentrates on the factors illustrated below.
Our Results
These distinguishing factors have resulted in PSG’s unique and time-tested ability in:
- Securing hundreds of millions of dollars in savings annually for our clients.
- Fostering accountability and financial transparency with PBMs.
- Holding PBMs responsible for contractual agreements and promises made.
- Improving operational efficiencies.
- Balancing cost concerns with a focus on the safety, health, and well-being of our client’s member populations.
- Seeking innovative solutions, in conjunction with selected PBMs, to meet client-specific needs.
- Working closely with our clients, and as a liaison with the PBM, to collaboratively resolve issues through teamwork and mutual commitment.
Our Clients
PSG’s consultative approach to managing pharmacy benefits has been embraced on an ongoing, day-to-day basis by over 150 clients, representing more than 4.5 million covered lives. In addition, PSG serves some of the largest and most sophisticated purchasers in the country on a project basis, bringing the total scope of our consulting services to nearly 50 million lives.
PSG develops custom solutions for our clients depending on the specific needs of their organization and the industry/environment of which they are a part. Our clients include: