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Best Practices for Developing an Effective PBM Oversight Strategy

Presenters: Phil DeNucci, Market Lead, Employer Markets; Sarah Nelson, Consultant


Pharmacy benefits are not just increasingly expensive – they are increasingly difficult to fully understand, administer, and manage. Even if you have had a long-term relationship with your PBM, the complexities of today’s pharmacy benefits and their many moving parts demand that employers be vigilant in their oversight. In this webinar, The Burchfield Group’s leading pharmacy benefits experts will discuss why it’s more important than ever that employers adopt a multi-year PBM oversight strategy – and which components to focus on when. You will learn:

  • The optimal time frames for analyzing, renewing, or negotiating your PBM contract.

  • Reasons why you should be skeptical of some PBM-recommended programs and solutions – and what to demand from your PBM instead.

  • How medical benefit issues often mask or hide serious underlying pharmacy benefits problems – and how to uncover and address these.

  • Lessons learned about specific PBM areas needing special oversight (compound drugs, Hepatitis C claims).

  • Why it’s important to conduct an annual independent third-party validation of your PBM’s contractual and financial performance.

  • Why protective audits should be part of your PBM oversight approach.

  • Why you need specialized pharmacy benefits and pharmacy benefits software expertise as part of an effective oversight program.

  • Steps you can take immediately to improve PBM oversight to ensure that you and your beneficiaries are getting maximum value today.

Presenters: Phil DeNucci, Market Lead, Employer Markets; Sarah Nelson, Consultant

 

A webinar recording can be accessed here.

 

 

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