In recent years, McGohan Brabender has experienced a significant increase in marketing efforts to inform employers about alternatives to their current pharmacy approach. Employers have been regularly approached by emerging Pharmacy Benefit Managers (PBMs), leveraged buying consortiums, creative specialty drug buying strategies, and various related vendors – all promising cost reductions from 15% to 25% compared to their current program spend. These efforts have left many clients confused and questioning the cost effectiveness of their pharmacy benefits program.
This session will give you a general overview of both the public and commercial pharmacy distribution system. We will also highlight some of the potential opportunities and pitfalls for employers as they consider changing their PBM or other Rx vendors. We will include MB’s guidance for employers as they:
- Create their strategy in managing the Rx benefit plan.
- Select their PBMs and other vendors.
- Evaluate the potential savings promised by alternative PBMs
The presentation will feature Antonio Ciaccia and Benjamin Link, the leaders of the nationally renowned Rx data analysis and transparency company, 3-Axis Advisors (3M), as well as drug pricing education non-profit, 46brooklyn Research. 3M was one of the leading forces behind the investigation into pharmacy benefit managers within the Ohio Medicaid managed care program, which ultimately uncovered nearly $250 million in hidden pricing spreads and resulted in national settlements totaling nearly a billion dollars to date.