Issue
A law firm was experiencing significant cost hikes year over year. These increases were exacerbated by a very high-cost pharmacy utilization of a single drug, resulting in a $2 million annual spend on a maintenance drug with a low clinical value. CBIZ was asked to facilitate a survey to discover ways to decrease pressure on pharmacy spending.
Solution
CBIZ’s pharmacy consulting practice researched and identified options to address the client’s concerns.
Outcome
Based on the survey results, the CBIZ pharmacy consulting practice applied a multi-pronged approach to lower pharmacy spending. The team identified several options with combined savings of over $2 million annually, including:
- Prescription rebates
- Carve-out solution engagements
- Reduced claims spend
The CBIZ team further identified the potential for the client to secure $5 million in annual savings over two years: $2.1M—$2.5M in year one and $2.7M—$3.1M in year two.
| Company Information | |
|---|---|
| Industry | Professional Services |
| Geographic Footprint | National – OH, NY, CA, GA, IL, D.C., PA |
| Number of Employees | 1,500 |
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