Cost Savings

Innovative Rx Strategies partners with South Carolina broker to create over $2.2 million in pharmacy benefit savings for clients using a variety of custom approaches.

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.

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.

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.

Through Innovative’s RFP process and clinical innovation, a health system realized sustained savings that totaled over $34 million.

Innovative renegotiated the TPA’s PBM stifling PBM contract to improve their competitive position in the marketplace and create substantial savings.

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.

A partnership with Innovative allowed the client to maintain a rich benefit for their employees while saving over $14 Million.

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.

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.

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%.