Issue
Prior to working with CBIZ, this client was in a pharmacy benefit manager (PBM) relationship through a coalition, which was owned and operated by their consultant. While satisfied with their PBM, the client was not as happy with their pharmacy consulting team and the coalition product — prompting their desire to conduct a PBM RFP. After discovering various conflicts of interest that prevented their current consultant from carrying out the RFP, the client turned to CBIZ to perform an unbiased review that prioritized their best interests.
Solution
- Our team conducted a comprehensive PBM RFP, which included the development of a go-to-market strategy, procurement of an RFP template, analysis and presentation of the responses to the client, facilitation of the finalist presentations, and consultation with the client through the final negotiations and decision.
- We continue to work with the client and their new PBM to construct new benefits offerings and ensure contractual guarantees are met.
- Our team leverages in-house data analytics capabilities and tools to present objective results on a regular basis, effectively eliminating the risk of relying on external vendors to perform data analyses.
Outcome
- We secured more than $3M in actual and contractual savings for the client in year one.
- The client now has greater knowledge and awareness of the external market, business politics, and conditions impacting their Rx decisions.
- The client cemented a strong consultant partnership rooted in trust
| Company Information | |
|---|---|
| Industry | Retail |
| Geographic Footprint | National |
| Number of Employees | 23,000 |
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