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Pharmacy Drug Benefits

Through Pharmacy Benefits Management (PMB)

What is Pharmacy Benefits Management?

The component of the employer health plan that manages employees and dependents’ Pharmacy Drug Benefits

Why Should Sourcing Organizations Use Pharmacy Benefit Management?

  • Average Total Health Benefits Cost per Employee is $10,000 / Year
  • Pharmacy Drug Benefit costs make up 15-20% of health benefits cost
  • Pharmacy Benefits average $1,500 -$2,000 / Employee / Year
  • Pharmacy Drug Benefit costs are the fastest growing component of Health Care Costs
  • Not Traditionally ‘Sourced’ by Many Companies

Highlights of Paladin’s PBM Agreement

  • Paladin’s High Volume Contract pricing and discounts are based on 700,000 Covered Lives
  • Item by item detailed cost comparison is prepared based on mail & retail purchases
  • Detailed formulary comparison performed to determine if any impact on client’s employees
  • No requirement to change retail supplier for employees
  • Web & Mail ordering available
  • Professional seamless rollout by dedicated transition team for client employees to minimize impact
  • Coalitions offer best practice sharing forums and watchdog activities such as annual audits of members’ pricing

More Information from Pharmacy Benefits Experts

Savings Where No One Dares to Look … Prescription Drug Benefits

Pharmacy Benefits Management Client Outcomes

Average savings = $100+ per employee per year