Six pharmacists lead strategic efforts to save companies more on their pharmacy benefit plans
On National Pharmacist Day, January 12, 2024, it’s important to acknowledge the expertise of our six pharmacists who work hard every day to identify pharmacy benefit cost savings opportunities for companies across the United States.
Since 2008, Innovative Rx Strategies has played a vital role in helping self-funded employers, brokers, third party administrators, and health care systems and health plans make sound clinical drug coverage decisions and uncover cost savings opportunities — while maximizing the value of their pharmacy benefits.
Innovative pharmacists work as objective partners in breaking down the complexities of the pharmacy industry. Their mission is to ensure clients get the best pricing and most effective programs possible from their pharmacy benefit manager (PBM).
With expert knowledge from having worked across the pharmacy supply chain, Innovative pharmacists save clients money on their benefits programs by, in part, doing the heavy lifting on PBM contracts, managing cost trends and holding PBMs accountable.
Innovative is unique from other pharmacy benefit consultants in that it is strategically led by pharmacists:
- Amy Ball, PharmD, is the president of Innovative. Her expertise and focus on clinical, contract and operational strategies has helped employers make sound clinical drug coverage decisions and uncover cost savings opportunities while maximizing the value of their pharmacy benefits. Over the past 30 years, she has worked for or consulted with health care organizations, hospital systems, national health plans, PBMs and large, self-funded employers across the country.
- Greg Madsen, RPh, is co-CEO and co-founder of Innovative Rx Strategies. Greg possesses first-hand knowledge of PBM pricing models and is an expert in MAC programs and generic pricing. He also has extensive knowledge of claims adjudication processes and benefit design administration, along with years of negotiating and auditing experience. Prior to founding Innovative, Greg was the senior vice president of retail services for CVS Caremark.
- Vice President of Clinical Strategy Megan Dorrell, PharmD, BCACP, received her Doctor of Pharmacy degree from Purdue University and has over 14 years of pharmacy expertise. She is responsible for coordinating pharmacy benefit consulting and providing any pharmacy and medication-related support to Innovative Rx clients. Before joining Innovative Rx, Megan spent 10 years as a health system pharmacist and leader.
- As Director of Clinical and Account Management, Nicole Noel, PharmD, MBA, leads day-to-day consulting and account management for self-funded employers. Her primary objective is to ensure the effective execution of client goals and the PBM contract. Before joining Innovative, Nicole spent 11 years at Purdue University as a pharmacist and director.
- Director of Operations Cameron Willoughby, PharmD implements, analyzes and refines processes for the entire Innovative organization. This includes PBM RFPs, market checks, annual reconciliations, no risk assessments and new client setup. For 14 years he was a retail pharmacist where he built a deep understanding of the relationship between patient care and the business aspects of pharmacy.
- As the managed care pharmacy resident and clinical pharmacist, Shravan Patel, PharmD, CPBS, provides pharmacist-level support to Innovative clients. As a resident, Shravan is choosing to complete additional post-graduate training in all aspects of pharmacy benefit consulting. He additionally is a Certified Pharmacy Benefits Specialist. He received his Doctor of Pharmacy degree from The Ohio State University.
With an objective, PBM-agnostic approach to pharmacy benefit consulting, our pharmacists are equipped with the expertise to help maximize the value companies receive from their PBMs. If you’d like to learn more, don’t hesitate to contact us.