{"id":2825,"date":"2023-05-24T10:28:43","date_gmt":"2023-05-24T15:28:43","guid":{"rendered":"https:\/\/www.bbrown.com\/?post_type=case_study&p=2825"},"modified":"2023-06-21T16:44:24","modified_gmt":"2023-06-21T21:44:24","slug":"health-plan-pharmacy-cost-controls","status":"publish","type":"case_study","link":"https:\/\/www.bbrown.com\/ie\/case-study\/health-plan-pharmacy-cost-controls\/","title":{"rendered":"Health Plan Pharmacy Cost Controls"},"content":{"rendered":"

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Case Study<\/p>\n

\n Health Plan Pharmacy Cost Controls\n <\/h1>\n\t\n <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row row_padding_bottom=”pb-2″ full_width=”stretch_row” equal_height=”yes” content_placement=”bottom”][vc_column width=”1\/4″][vc_single_image image=”791″ img_size=”full”][\/vc_column][vc_column width=”3\/4″]\n
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\n The Request\n <\/h2>\n\t\n <\/div>[vc_column_text]<\/p>\n

Drive cost savings to the health plan through a Pharmacy Benefit Management vendor evaluation<\/span><\/span><\/h3>\n

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Company Profile<\/strong><\/h4>\n

Industry: Commercial and Medicare Lines<\/span><\/span><\/strong>
\nCovered Lives: 180,000+<\/b><\/p>\n

A regional health plan in the Northeast region of the United States, with over 180,000 covered lives across Commercial and Medicare lines of business, had not competitively marketed its Pharmacy Benefit Management (PBM) vendor in many years. The health plan wanted to <\/span>determine<\/span> if they were partnered with a PBM vendor that could meet their needs and if their agreement offered the most aggressive financial pricing for their member’s drug purchasing.\u202f<\/span><\/span>\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_bottom=”pb-2″ full_width=”stretch_row” equal_height=”yes” content_placement=”bottom” css=”.vc_custom_1638896243466{background-color: #eaeaec !important;}”][vc_column width=”1\/4″][vc_single_image image=”794″ img_size=”full”][\/vc_column][vc_column width=”3\/4″]\n

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\n The Solution\n <\/h2>\n\t\n <\/div>[vc_column_text]<\/p>\n

Brown & Brown provided a market check with financial benchmarking, leading to a longer-term Request for Proposal (RFP) and PBM strategy<\/span><\/span><\/h3>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=”pt-1″ full_width=”stretch_row” css=”.vc_custom_1638896256859{background-color: #eaeaec !important;}”][vc_column][vc_column_text]Brown & Brown performed an initial market check of the PBM agreement in place. This provided financial benchmarking across all financial areas of the contract, along with a negotiation for a contract extension that allowed time to perform a full Request for Proposal (RFP) process.\u202f<\/span>\u00a0<\/span><\/p>\n

Brown & Brown focused on strategic and financial aspects of the PBM relationship to help ensure the vendor partner complements the health plan’s overall strategy and provides a market-leading financial arrangement and program offering.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_bottom=”pb-2″ equal_height=”yes” content_placement=”bottom”][vc_column width=”1\/4″][vc_single_image image=”792″ img_size=”full”][\/vc_column][vc_column width=”3\/4″]\n

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\n The Results\n <\/h2>\n\t\n <\/div>[vc_column_text]<\/p>\n

The analysis <\/span>provided<\/span> almost 20% in overall savings and determined a suitable PBM<\/span><\/span>\u00a0<\/span><\/h3>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_padding_top=”pt-2″ equal_height=”yes” content_placement=”middle”][vc_column][vc_column_text]The results of these exercises included the following: <\/span>\u200b<\/span>\u202f<\/span>\u00a0<\/span><\/p>\n