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Third Party Administrators

Better Contracts. Better Pricing.
Better Client Satisfaction.

Enhance your pharmacy benefits offerings with pharmacist-led support.

We do the heavy lifting of pharmacy benefit management and enhance master contracts so you can do more for your clients and improve your competitive position.

We save TPAs’ clients, on average, at least 15% in the first year.

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Frustrated with Your Pharmacy Benefits Manager?

Pharmacy Benefits Consulting for Third-Party Administrators

Tired of the lack of support and understanding from your PBM? Facing long turnaround times on new group implementations? TPAs shouldn’t have to spend their time and energy managing the intricacies of their pharmacy benefit management programs. Working to hold PBMs accountable, our pharmacists, clinicians and industry experts advocate for getting TPA’s clients the greatest value possible from their pharmacy benefits programs.

If you want to reduce the complexity and have more time to focus on your core operations, we can help.

Our promise is to do the heavy lifting on PBM master contracts and provide comprehensive support so TPAs can:

  • Have greater visibility into what their clients are paying for and help them better manage Rx costs
  • Make informed decisions which includes a clear understanding of the impact on clients downstream
  • Understand the impact and options for formulary and care management programs
  • Offer the most competitive pricing possible and attract and retain new clients with their pharmacy benefit offerings
  • Spend more time on core operations and client support, and less time managing their PBM and implementing new clients
  • Provide clients and their members with access to the most appropriate and affordable medications when they need them
Third Party Administrators

Explore the Innovative Difference

Growing TPA Saves Clients Over $4.3 Million

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Clinical understanding drives all strategy and implementation. All stakeholders of your clients' pharmacy programs are held accountable to the well-being of plan members — which is a cornerstone of the pharmacist's oath.

INNOVATIVE DIFFERENCE #1

“Pharmacist-Led” Matters

Our organization is led by pharmacists who are successful in uncovering and negotiating savings because they know what to look for and where to look. They understand how to ensure discounts, rebates and other manufacturer-derived revenues pass through TPAs to downstream clients — instead of to the PBMs’ profit margins.

The expertise and member-first mentality of our pharmacists isn’t just a part of our mission – it’s our business model. It’s who we are. From the top down, pharmacists hold leadership positions across the organization, ensuring that plan design and savings recommendations never lose sight of a commitment to patient care.

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Member-Focused Strategy

Your clients experience transformative savings while maintaining a deep respect for patent quality of life.

INNOVATIVE DIFFERENCE #2

Member-Focused Strategy

Yes, we will save your clients money. At least 15% in the first year. But not at the expense of your members. Unlike other advisory firms, our recommendations for cost-savings are not a trade-off for affordability or access.

As the pharmaceutical industry brings new, costly therapies to market, organizations must wrestle with how they and their employees will afford what are often life-saving medications and therapies. With strategies tailored to the unique needs of third-party administrators’ clients and their members, we help you plan how to best serve your clients — with little-to-no disruption.

 

Preemptive Risk Management

What will NOT taking action today, cost your clients tomorrow?

INNOVATIVE DIFFERENCE #3

Preemptive Risk Management

Constant innovation in the pharmaceutical space drives the cost of providing pharmacy benefits higher each year. To provide their clients the best possible pharmacy benefits programs, TPAs cannot afford to maintain the status quo. The compounding impact of inaction will create unsustainable costs.

We serve as a long-term partner constantly focused on mitigating risk to ensure you can best serve your clients and their members for years to come. Let our experts help you save today and plan for reduced risk in the future through ongoing claims monitoring, contract reconciliations and plan performance reviews.

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Ready to Explore How Much Your Clients Can Save?

Request a Savings Assessment for Individual Clients or Your Entire Book of Business

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Frequently Asked Questions

How can you help us grow our client base?

By handling the intricate details of pharmacy benefit management, we allow you to focus on your core operations. We reduce the administrative burden on your team, so you can continue to deliver exceptional service to your clients.

Secondly, our pharmacist-led approach delivers the most competitive possible pricing along with clinically driven pharmacy benefit programs. We deliver master contracts that will improve your competitive position and attract new clients. Our team stands ready and willing to partner with you in the sales process and meet with prospective clients.

Finally, our pharmacists support you and your clients with educational content and live experiences, such as webinars, which can be used as a differentiator for clients and prospects.

Is Innovative tied to a particular PBM?

No, Innovative is proudly PBM-agnostic. We work with a wide range of PBMs to identify the best possible alignment with TPAs’ pharmacy benefit and business objectives. We do not receive incentives or payments from PBMs.

Respectful of existing relationships, we are an addition to the team committed to getting your organization the greatest value on your pharmacy benefits program.

We already have strong master contracts. Why do you think you can find more savings?

If you already work with a pharmacy consultant, they are likely working directly with a PBM. How do you know if you’re getting the best pricing and most effective programs from the PBM? The truth is — it’s close to impossible to know. And unless your consultant employs pharmacists or pharmacy industry professionals who can monitor the PBM and your contract terms, they don’t know either.

TPAs shouldn’t have to understand the ins and outs of the pharmacy industry. And unless your pharmacy consultant has pharmacy experience on staff, they wouldn’t be expected to understand the industry either. In fact, they may have allegiance to a particular PBM’s model and approach to contracting.

This is where our pharmacist-led approach comes into play. Fact is that you and your clients are likely paying your PBM more than you have to. Our team knows the ins and outs of how PBMs get paid and can hold them accountable to ensure you get the best possible contracts and your clients save more on their pharmacy benefits. If you want greater performance, accountability and transparency from your PBM, we can help.

Can you really find savings without cutting programs or disrupting our clients' benefits?

We find savings in PBM contracts because our pharmacists know where to look and what to look for; we guarantee your PBM contract terms can be renegotiated. In fact, we often uncover 15% to 20% savings upon first review of your PBM contract. This renegotiation and these savings do not involve changing anything about the medications available to your clients and their plan members.

Additional Insights for Third-party Administrators