Does your prescription drug plan support the needs of your employee population? Is it cost-effective without sacrificing quality of care and access to necessary medications?
Pharmacy
Improve the health of your plan with the right pharmacy benefits
Prescription drugs play a vital role in the health, wealth, and overall wellbeing of your workforce. We can help you design a pharmacy program that reduces near-term costs but doesn’t compromise the care of your plan participants.
To help your organization maximize your plan, our team includes clinical specialists that understand the pharmacy landscape and can leverage their extensive industry, employer, and Pharmacy Benefit Manager (PBM) experience.
Our approach focuses on helping your organization:
- Control total health plan costs for you and your employees
- Manage chronic illnesses
- Use data to secure competitive pricing and terms with PBMs
- Access unbiased, objective information about the performance of your vendors, plans, and programs.
How Buck can help
Plan management, design, and analysis
Are you looking to build a pharmacy benefit program that is cost effective, market competitive, high performing, and philosophically aligned with your company and benefits objectives? Our pharmacy team uses data analysis, benchmarking, and predictive analytics to design a plan that meets your organization’s objectives.
Specialty drug cost and utilization management
To identify savings opportunities tied to specialty drugs, typically worth millions of dollars per employer, we’ll evaluate your medical and pharmacy plan claims. Specialty pharma costs typically represent up to 50% of your pharmacy spend and represent the highest portion of annual cost increases – active management can help to control costs.
Vendor oversight and Rx claims audits
Is your PBM performing in accordance with your contract terms and coverage policies? Does your team apply the required utilization management protocols? Did your PBM commit to certain performance guarantees and are they being met? We offer a full suite of audits and ongoing tracking and reporting to ensure your PBM is held accountable and you can avoid costly mistakes.
Learn more
Retiree medical Rx oversight
We’ve served as strategic advisors to employers on retiree healthcare benefits for more than 40 years and continue to provide innovative solutions to ensure that you and your retirees maximize the healthcare benefits that are offered in conjunction with Medicare. Providing prescription drug coverage for retirees can be challenging, so we can help put programs in place to help your retirees manage costs.
Vendor management and benchmarking
Our team can help you with renewal negotiations and assist in conducting the competitive bid process to determine the best PBM vendor for your organization. We’ll also help you onboard your new PBM and provide benchmarking data to help you evaluate ongoing performance.
Ongoing consulting
We’ll conduct regular program reviews to identify new trends, questionable claims and/or fill patterns, wasteful spending, and potential changes to help you manage costs. We’ll also help you continuously monitor changes in the marketplace, including new medication therapies approved by the U.S. Food and Drug Administration, so you can stay up-to-date.
Join Buck’s pharmacy coalition
Buck’s pharmacy coalition is designed to help employers provide cost-effective, clinically-sound pharmacy benefits to their plan participants.
Working closely with you, we’ll design a plan that maximizes your purchasing power and uniquely fits the needs of your organization. We’ll also regularly monitor, analyze, and optimize your program so you have the leverage needed to maximize your pharmacy benefits. You’ll see immediate savings of up to 20%, and ongoing, long-term results.
Resources
Do you know the drugs that are hiding in your medical claim costs?
Specialty drugs are driving up healthcare costs in medical plans. What can plan sponsors do to manage their pharmacy spend?
For additional insights on how your organization can create a workforce today that can take on tomorrow, check out our thinking.
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