A PBM consultant reviews your pharmacy contract, claims, rebate terms and more to uncover savings and hold your PBM accountable, working only for your organization.
Who We Serve: One Independent PBM Consultant, Numerous Kinds of Partners
Pharmacy benefit management consulting looks different depending on where an organization sits in the health care landscape.
Innovative Rx Strategies partners directly with self-funded employers, benefits brokers, TPAs, health systems and health plans, adjusting our approach to the specific pressures each one faces.
Find your organization type below to see the exact expertise we bring to your side of the table.
Self-Funded Employers: Take Control of Rising Pharmacy Costs
Self-funded employers carry the direct financial risk of every prescription their plan covers, yet most lack visibility into where PBM rebates and spread pricing actually land. Our pharmacy benefit consulting team reviews contracts, claims and rebate flow to recover dollars that belong to the plan, not the PBM. National and international employers with 1,500 or more employees turn to us for sharper contract terms and measurable savings.
Discover exactly where your rebate dollars should be landing in our self-funded employer pharmacy benefits program.
Benefits Brokers: Add an Independent PBM Consultant to Your Team
Your clients expect you to catch what a generalist broker misses in a PBM contract. Partnering with an independent PBM consultant gives your book of business pharmacist-level scrutiny without adding headcount to your own team. We handle contract analysis and vendor management under your name, strengthening the value you already provide to employer clients.
See how our broker partnerships work in practice.
Third-Party Administrators: PBM Consulting Services That Strengthen Client Relationships
Third-party administrators live and die by the strength of their client relationships, and pharmacy benefit blind spots put those relationships at risk. Our PBM consulting services give your team claims analytics, contract benchmarking and vendor accountability you can pass straight to the employers you serve. That data becomes a retention tool you bring directly to your clients.
Explore what TPA support looks like with Innovative Rx Strategies.
Health Care Systems & Hospitals: Pharmacy Benefit Strategy for Complex Organizations
Hospital pharmacy directors manage benefit programs for employees who already know the health care system inside and out, which raises the bar for plan performance. Our clinical team has run pharmacy departments from the inside, giving health systems a pharmacy benefit management consulting partner who speaks the same clinical language as their own staff. We negotiate contracts and monitor claims that reflect the complexity of a large health organization.
Get a closer look at our work with health systems and hospitals.
Health Plans: Independent Oversight for Managed Care Leaders
Managed care leaders answer to regulators, members and margins at the same time, leaving little room for pharmacy benefit costs to go unchecked. We provide independent PBM oversight that keeps discounts, rebates and manufacturer revenue flowing to the plan instead of disappearing into PBM margins. Our compliance and cost optimization work supports the same accountability that health plans owe their members.
Talk to us about what independent pharmacy benefit oversight looks like for your health plan.
It’s Time to Work With an Independent PBM Consultant
Every year without independent pharmacy benefit management consulting is a year your PBM keeps savings that should be landing in your budget. Our pharmacists, financial analysts and former PBM executives get to work on your contract with a guarantee: if you don’t save money, we don’t get paid.
Contact Innovative Rx Strategies today and find out exactly what your organization has been overpaying.
Pharmacy Benefit Management Consulting: Frequently Asked Questions
What’s the difference between a PBM and a PBM consultant?
A PBM administers your pharmacy plan and profits from parts of it, while a PBM consultant works independently to recover what that contract costs you.
How much does pharmacy benefit management consulting cost?
Fees vary by scope and plan size, and we tie our compensation to your actual savings, so there’s no cost without results.
How long does it take to see savings after starting PBM consulting?
Most clients see contract and rebate savings within the first 90 days, with full financial reconciliation completed every year.