{"id":1441,"date":"2021-12-26T20:24:03","date_gmt":"2021-12-27T02:24:03","guid":{"rendered":"https:\/\/www.bbrown.com\/?post_type=case_study&p=1441"},"modified":"2022-01-27T13:12:25","modified_gmt":"2022-01-27T19:12:25","slug":"rfp-process-helps-reduce-pharmacy-benefits-costs","status":"publish","type":"case_study","link":"https:\/\/www.bbrown.com\/us\/case-study\/rfp-process-helps-reduce-pharmacy-benefits-costs\/","title":{"rendered":"RFP Process Helps Reduce Pharmacy Benefits Costs"},"content":{"rendered":"

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Pharmacy Services Case Study<\/p>\n

\n RFP Process Helps Reduce Pharmacy Benefits Costs\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

Reduce costs for pharmacy benefits program, including commercial, Medicare Part D and ASO lines of business.<\/h3>\n

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

Industry: Pharmacy Services<\/strong><\/p>\n

A large health plan customer of Brown & Brown\u2019s Pharmacy team wanted to reduce its costs for its overall pharmacy benefits program, including commercial, Medicare Part D and ASO lines of business. The customer requested the Pharmacy team to complete a focused RFP\/market check to evaluate selective pharmacy benefit managers (PBMs) and determine if better services and pricing were available in the marketplace.[\/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

Created a custom RFP process that included a complete financial analysis for all lines of business and a focused 25-question qualitative questionnaire.<\/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\u2019s Pharmacy team completed a custom RFP process that included a full financial analysis for all lines of business, developed a 25-question qualitative questionnaire that focused on five main areas of interest and evaluated the responses within the questionnaire.<\/p>\n

This entire process was completed within a six-month timeline, as the customer needed to quickly meet a year-end deadline.[\/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 health plan renegotiated 8.25 percentage points better overall on its commercial contract and 11.6 percentage points better overall on its Medicare Part D contract.<\/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 the RFP process provided an opportunity for the health plan to renegotiate 8.25 percentage points better overall on its commercial contract and 11.6 percentage points better overall on their Medicare Part D contract.<\/p>\n

In addition, the PBM provides rebates for the Medicare Part D program, and the Pharmacy team assisted the health plan to gain almost $260 more on average per brand claim than what the health plan was receiving previously. Lastly, the team assisted the customer with renegotiating the terms of their contract and was instrumental in revising and including additional language to further protect the customer from unexpected shifts in guarantees, clarify calculation methodologies and right-size how guarantees were calculated based on ambiguous caveat language.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]\n

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Ready to help minimize your risk and uncertainty?<\/p>\n

\n Contact us for more information.\n <\/h2>\n\t\n <\/div>\t
\n\t\t\t\t\t\n\t\t\t\tContact Us<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][\/vc_row][vc_row][vc_column][vc_separator][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]DISCLAIMER:<\/span>\u00a0<\/span>Brown & Brown, Inc. and all its affiliates, do not provide legal, regulatory or tax guidance, or advice. If legal advice counsel or representation is needed, the services of a legal professional should be sought. The information in this document is intended to provide a general overview of the topics and services contained herein. Brown & Brown, Inc. and all its affiliates, make no representation or warranty as to the accuracy or completeness of the document and undertakes no obligation to update or revise the document based upon new information or future changes.<\/span>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

A large health plan customer wanted to reduce its costs for its pharmacy benefits program. The Brown & Brown Pharmacy team completed a custom RFP process. 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