Vendor and Pharmacy Management
Carrier, pharmacy benefit and ancillary vendors reviewed against results, not left on autopilot. Vendors are reviewed on service, cost and outcomes.
Hold vendors to results.
Vendors are reviewed on service, cost and outcomes. Pharmacy benefits deserve particular attention because drug costs are a large and growing share of spend for many groups.
A periodic review keeps terms competitive and surfaces problems early.
How Vendors Are Reviewed.
Carriers, pharmacy benefit managers and ancillary vendors are reviewed on service, cost and outcomes. We check what you are paying, what is included, how performance is measured and when contracts renew.
Pharmacy deserves attention because drug spending is a large and growing share of cost. A review looks at how pharmacy is priced, what programs are in place and how the contract is structured.
Reviews lead to specific questions for vendors and, where warranted, a market check.
A few more questions.
What is a pharmacy benefit review?
A look at drug cost drivers, formulary and contract terms to find savings and risks.
Do you manage vendors for us?
We coordinate and review them for you so HR is not managing each relationship alone.
How often should vendors be reviewed?
At least before each renewal.
Do we have to change vendors?
No. Often the result is a better contract or a clearer service standard.
What do you need to start?
Contracts, invoices and performance reports.
Related guides.
Employee Benefits Strategy Consulting in Michigan
Funding, contributions, vendors and compliance.
Diagnose
Review the plan, claims, participation and renewal history to find what is actually driving cost.
Benchmark
Compare your plan and contributions against comparable employers so you know where you stand.
Send us your renewal.
We’ll tell you whether it looks competitive, where we see opportunity, and the five questions we’d put to your carrier. No cost, and no obligation to move anything.
The renewal letter
Your current plan summary
Contribution split by tier
Enrolled counts by tier
Four documents — two more if your group is 50 or more. Nothing else; every extra one is a reason to postpone.
An independent employee benefits consulting firm. We look at the entire benefits program: cost, plan performance, risk and administration.
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