Our process combines decades of experience with
Phase 1: Evaluate
Is your PBM meeting expectations?
Let’s evaluate your current PBM relationship and see how we can help.
We’ll go through your current contract line-by-line to evaluate the PBM’s pricing and contract terms—paying special attention to any “gotchas” in the fine print or “devils in the details.” Next, we’ll estimate potential savings based on pricing we’ve successfully negotiated in the market, or rates we feel confident we can secure for you.
In the final analysis, we’ll find ways to lower your prescription drug costs and save you money.
Phase 2: Proprietary RFP Process
Finding the right PBM solution starts by asking the right questions.
With decades of in-house PBM experience, we know the smart, subtle questions that our competitors don’t think to ask.
And the ones PBMs don’t want to answer.
Whether it’s through thoughtful client dialogue, or our brass-tacks RFP process that presses PBMs beyond boilerplate responses, Innovative Rx Strategies goes to relentless lengths to illuminate the vital information that empowers you to make best PBM decision for your business.
Phase 3: Negotiate
PBMs hate to negotiate with us for a simple reason:
We know what they know. And they know it.
So when a PBM says, “That’s the lowest we can go,” our behind-the-scenes insight into PBM pricing floors tells us it’s not. Usually, not by a long shot.
So when push comes to shove, the weight of our inside PBM knowledge and aggressive negotiating approach wins the day in a major way: Obtaining the lowest PBM pricing terms and maximum plan value on our client’s behalf.
Phase 4: Contracting
Negotiating a superlative agreement is half the battle.
Securing it in contract form is where the war is won.
That’s the strong finish and added assurance Innovative Rx Strategies brings to the table.
Beyond PBM business expertise, we also have vast legal experience drafting complex PBM contracts. Including locking down the right pricing guarantee language. Cutting off common loopholes and escape clauses. And placing PBMs at risk for their pricing commitments and performance guarantees.
From the last dotted “i” to the final crossed “t,” the result is a fool-proof contract that secures your best pricing—and protects your best interests—in black and white.
Phase 5: Ongoing Service
When all is said and done, we’re still far from done.
The Innovative Rx Strategies team remains your steadfast ally long after the ink dries on your PBM contract to provide ongoing account management services, pricing audits, plan implementation assistance, employee education, issue resolution, and more.
Whenever you need us, as long as you need us, Innovative Rx Strategies is there.