PBM RFP Best Practices to Maximize Your Pricing and Negotiating Leverage
By Steve Baumgardner
Mon, Oct, 21, 2019A priority for many health plans is to negotiate a PBM contract that offers the most competitive pricing with the highest levels of service and flexibility for their plan and members. In order to achieve this, health plans must maximize their leverage by executing a well-strategized RFP. Nothing maximizes a health plan’s leverage more than an RFP in which the bidders perceive an uncertain, but potentially successful, outcome. This article outlines how a health plan can best prepare for an optimal, efficient and successful RFP.