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Archive: Cost Savings
- October 30, 2023
PBM 101: PBM Pricing Models
PBMs play a major role in how employers manage prescription drug costs and two PBM pricing models dominate the market — let’s break down the pros and cons of each.
- September 25, 2023
Improved Contract Terms Net $3M in Rx Plan Savings in One Year
Rebates, discounts and PBM contract review by Innovative provide over $3 million in savings in a single year. $400,000 of savings were passed directly to the plan members.
- July 25, 2023
$2.4M Rx Cost Savings Identified for Financial Sector Client
Innovative’s negotiation power and knowledge of the specialty drug market allowed this client to mitigate much of the cost of one member’s drug infusions. This resulted in savings of $2.4 million.
- July 7, 2023
Health System Saves Over $34 Million on Pharmacy Benefits
Through Innovative’s RFP process and clinical innovation, a health system realized sustained savings that totaled over $34 million.
- July 1, 2023
TPA Improves Competitive Position and Saves Millions
Innovative renegotiated the TPA’s PBM stifling PBM contract to improve their competitive position in the marketplace and create substantial savings.
- June 28, 2023
Can Pharmaceutical Costs Really Be Contained?
Taking a passive approach to pharmacy benefits management is a missed opportunity for substantial financial savings — for you and your employees. Choosing the right partner is key. Leveraging pharmaceutical industry expertise can create sustained cost savings.
- June 15, 2023
Regional Utility Company Saves Over $14 Million on Their Pharmacy Benefit
A partnership with Innovative allowed the client to maintain a rich benefit for their employees while saving over $14 Million.
- June 10, 2023
PBM 101: The Complexities of Pharmacy Benefit Management
Taking a passive approach to pharmacy benefits management is a missed opportunity for substantial financial savings — for you and your employees. Choosing the right partner is key to leveraging pharmaceutical industry expertise.
- May 30, 2023
What is a Biosimilar?
By keeping a close eye on the biosimilar landscape and understanding your PBM’s approach to biosimilar coverage, you can help your client or employer navigate this evolving market and make informed decisions.
- May 6, 2023
Global Manufacturer Realizes Pharmacy Benefit Savings of $10.5 Million
Before negotiations, the client’s annual drug cost was nearly $70,000,000. The new contract reduced that cost by $10,543,000 —a decrease of close to 16%.