Plan sponsors are concerned about the turbulence in the prescription drug marketplace, particularly the recent alliances between major PBMs and insurers. Since 96% of American pharmacy spend passed through a PBM in 2017, this market upheaval has health plans and employers considering new options for a PBM. In fact, over the past three years, about half of the clients for whom we have managed procurements have changed PBMs.
Choosing the right PBM is only half of the equation, however. A seamless implementation is just as important in order to minimize member disruption and ensure program accuracy. For these reasons, many health plans and employers who used another consultant for procurement are seeking PSG’s PBM implementation expertise and experience to manage the actual transition.
Best practices for PBM implementation
Even if you used a consultant to procure a new PBM, you might find value in selecting a different consultant — one with expertise in PBM transitions — for the actual implementation. If you choose this route, you’ll want to look for a provider who:
Even if you’ve signed with a new PBM but yet have to make the change, turn to PSG. Our industry-leading support means a seamless transition for your members and accurate implementation for your plan.
Download our PBM Vendor Procurement and Management overview to learn how we help plan sponsors get the most from their PBM.