In-Person and Online PBM Training
PBMs or pharmacy benefit managers provide transparency and disclosure to a level demanded by the competitive market and generally rely on the demands of prospective clients for disclosure in negotiating their contracts. The best proponent of transparency is informed and sophisticated purchasers of PBM services. The purchaser needs to understand not only what they want to achieve in their relationship with their PBM but also the competitive market and their ability to drive disclosure of details on services important to them. Assessing transparency is more effectively done by a trained eye with personal knowledge of the purchaser’s benefit and disclosure goals. The Certified Pharmacy Benefit Specialist (CPBS) educational offering includes knowledge and assessments that are critical to cost-effective management of the pharmacy benefit.
TESTIMONIALS
What our students have to say.
Michael Thomas, Pharm.D., CPBSClinical Pharmacist
PANTHERx Specialty Pharmacy
PANTHERx Specialty Pharmacy
“You are one of the best teachers I have encountered and this course should be taught at every pharmacy school.”
Grant Rappleye, CPBS
Employee Benefits Consultant
InterWest Insurance Services, LLC
InterWest Insurance Services, LLC
“I couldn’t have imagined learning as much as I did over these 8 weeks, especially as it pertains to hidden revenue streams and ambiguous contract language that ultimately drives up costs for the plan sponsor.”
Amanda Johnson, Pharm.D., CPBSAsst. Professor of Clinical Education
UNC Eshelman School of Pharmacy
UNC Eshelman School of Pharmacy
“Thank you so much for being a great teacher. I learned so much!”
Tony Cochren, CLU, CIC, CRM, CPBSVice President Employee Benefits
German American Insurance
German American Insurance
“I have thoroughly enjoyed and benefited from the training. As you can see below by my signature, I have other designations. I can honestly say this was, by far, the most challenging certification course I’ve taken. I know I still have much more to learn, but this class has set me in the right direction.”
Joseph Thomas, Pharm.D., CPBS
Clinical Advisor
CVS Health
CVS Health
“I can’t express enough how invaluable your class was for me.”
Michael M. Adams, CPBSBenefits Advisor
Workforce Benefit Solutions
Workforce Benefit Solutions
“I truly thank you for your effort in putting together this class, I learned more than I ever thought I would. I have always found it hard to concentrate in school and you kept me engaged, answered all my questions and I was pumped after each class.”
Keith McNeil, CLU, CEBS, GBDS, CPBSPartner
Arrow Benefits Group
Arrow Benefits Group
“Thanks so much. I enjoyed the class and learned a lot.”
Robson Baker, CPBSEmployee Benefit Advisor
Clarus Benefits Group
Clarus Benefits Group
“I just completed my Certified Pharmacy Benefits Specialist certification and DANG was it tough! I learned so many things that I look forward to sharing with my clients and community. Right now I am seeing about 20-28% in preliminary savings for a self-funded prospect. That is just Rx costs! We haven’t even started on the Medical yet.”
Ken Huber, CPBSExecutive Vice President, Employee Benefits
PSA Financial Advisors, Inc.
PSA Financial Advisors, Inc.
“Glad to help I truly believe in the program!”
Lucy Hoff, Pharm.D., CPBSDirector of Pharmacy
Practice
On-Site Rx, Inc.
On-Site Rx, Inc.
“Thank you so much, Tyrone. I really enjoyed this course and I did work really hard. Hearing your high praises means so much to me. I also appreciate the feedback you provided in the grading sheet. I will definitely keep these in mind in the future. I did get a little carried away with my 6-tiers, but I was just having too much fun with it.”
Randy NelsonManager, Business Development
HealthPartners
HealthPartners
“Thanks Tyrone. You have really made a big difference for us! In all my years of doing this I don’t think any other consulting relationship that I’ve been part of has yielded the positives you have brought to the table and continue to do so. I appreciate your kind words and thank you too.”
Brian Kurz, Pharm.D., CPBSSenior Manager, Pharmacy Benefits
Fresenius Medical Care North America
Fresenius Medical Care North America
“Thank you so much Tyrone. This class was challenging yet so rewarding. I learned an incredible amount from you and look forward to using this talent and credential to better my career. I appreciate all your help. I know I’m never done learning and will definitely look to you as a resource.”
Rubin Torrez, CPBSSenior Vice President of Employee Benefits
Kapnick Insurance Group
Kapnick Insurance Group
“It was not easy, but the content will change
how our agency operates moving forward. I
appreciate your time and look forward to
speaking/working with you moving forward.”
Ellen Nastase, CPBSDirector of Pharmacy Benefits
Benecon Group, Inc.
Benecon Group, Inc.
“I learned a lot in your course. Thank you for
sharing your knowledge.”
Joni Fallowfield, CPBSSenior Account Executive
Apex Benefits
Apex Benefits
“This was grueling but well worth the time and effort. I’ve been in the business for over 40 years and have witnessed the emergence of the shell game that PBMs introduced into the mix several years ago but never really felt equipped to do anything about it – now I am!”
Upcoming CPBS eLearning Classes
| SESSION | GET STARTED | EARLY BIRD RATE | STANDARD RATE |
|---|---|---|---|
| September 5, 2024 (Fall) |
REGISTER HERE! |
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| January 9, 2025 (Winter) |
REGISTER HERE! |
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| June 5, 2025 (Summer) |
REGISTER HERE! |
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Pharmacy Benefits Training Program
Introduction to Pharmacy Benefit Management
Introduction to Pharmacy Benefit Management
PBM Module #1
Fundamentals of PBM Pricing
PBM Module #2
Plan Design for the Pharmacy Benefit
PBM Module #3
PBM Module #4
Cost Containment Strategies for the Pharmacy Benefit
PBM Module #5
PBM Contracts
PBM Module #6
PBM Procurement
PBM Module #7
Specialty Pharmacy Benefits Management
PBM Module #8
Final Exam
FAQs
What is the Certified Pharmacy Benefits Specialist (CPBS) program designed for?
This educational offering includes knowledge that is critical to effective management of the pharmacy benefit and for those seeking to enter into the pharmacy benefits management industry. Each class concludes with a knowledge assessment test to help gauge student comprehension. Students are required to pass a comprehensive final exam with a score of 85% or better in order to qualify for the CPBS designation.
What’s in it for me?
Pharmacy Benefit Managers will provide transparency and disclosure to a level demanded by the competitive market and generally rely on the demands of prospective clients for disclosure in negotiating their contracts. The best proponent of transparency is informed and sophisticated purchasers of PBM services. The purchaser needs to understand not only what they want to achieve in their relationship with their PBM but also the competitive market and their ability to drive disclosure of details on services important to them. Assessing transparency will be more effectively done by a trained eye with personal knowledge of the purchaser’s benefit and disclosure goals.
Employee Benefits
- Enhance your candidacy – one out of two hiring managers prefer job applicants with a certification
- Stay competitive in the workforce and raise your professional value
- Network with other employee benefits professionals
- No or low out-of-pocket costs; employer may pick up portion of the costs
Employer Benefits
- Certified employees drive business goals through increased self-motivation and confidence
- Uphold or gain competitive advantage in the marketplace because of the PBM mastery held by human capital
- Internal career advancement for certified staff which reduces hiring and onboarding costs
- Clients have more confidence in the results of certified staff
What are the dates offered for the CPBS curriculum?
See the education page on our website at pharmacybenefitinstitute.com.
Should I choose to enroll will I be required to miss any workdays?
The simple answer is no for the eLearning option. The course is designed to be completed around your work schedule and there is no travel involved. It is a virtual classroom with breakout sessions and on-demand recordings of live sessions in the event you’re unable to attend a session. Here are more details:
DATE : Every Thursday; live online classroom with on-demand recordings
TIME : 6 : 00 pm, Eastern Standard Time (New York, GMT-05 : 00)
DURATION : 1.5 hours per session – 8 sessions total
COURSE MATERIALS : Available online during the first day of class
EXAMS : Students must pass the final exam with a score of 85% or better
What is the cost for registration?
The cost for an individual registration is $2500 (effective 1/1/2024, the cost is $2750) for eLearning and $3500 for the Knowledge Camp (in-person) workshop. Since the employer may pick up all or a portion of the total cost, candidates for the CPBS designation should first check with their HR department or immediate supervisor prior to registering. Companies will save with volume pricing on multiple course enrollees. In this case, students can be trained all at once or separate over a two period. This is a great option if you expect turnover. Only one discount can be applied to each registration; discounts cannot be combined. Please send any questions or inquiries about group discounts to info@pharmacybenefitinstitute.com.
With whom can I expect to share a classroom?
Anyone who “touches” the pharmacy benefit is a good candidate and will benefit from the CPBS designation. This includes but is not limited to:
- Human Resources Executives
- Agents, Brokers & Consultants
- Insurance Executives
- Benefits Specialists
- CEOs, Founders & Owners
- CFOs, Controllers and Directors of Finance
- Pharmacists and pharmacy technicians
What are the courses being offered?
Here is a summary of the courses being offered. Be sure to download the syllabus for more detailed information such as learning objectives.
- Week 1 : Introduction to Pharmacy Benefit Management
- Week 2 : Fundamentals of PBM Pricing
- Week 3 : Benefit Design for the Pharmacy Benefit
- Week 4 : Cost Containment Strategies for the Pharmacy Benefit
- Week 5 : PBM Procurement
- Week 6 : PBM Contracts
- Week 7 : Specialty Pharmacy Benefits Management
- Week 8 : Final Exam
What are some of the features and benefits of the CPBS course?
- Gain deep knowledge in an industry competitors lack
- Significantly lower your client’s or organization’s pharmacy costs
- Get an edge in the competitive field of employee benefits
- Be recognized for evolving your skill set; become an expert!
- Win more clients with a unique specialization
- Virtual classroom option – no travel or missed work
- No or low out-of-pocket – Employer may pick up a portion of the cost
- Each session is recorded for on-demand viewing 24/7
Who is the lead instructor?
The lead instructor is Tyrone Squires, CPBS and you can view his profile here. However, you should
expect some highly qualified guest instructors including CPAs, attorneys and pharmacists who have vast
experience in the PBM industry.
What happens if I enroll and later decide the course is not for me?
For the 8-week online Certified Pharmacy Benefits Specialist course, a refund of the course fee (less $100 for the eBook Training Guide) is afforded to all registered students up to 7 days upon the start of the enrolled course. If for any reason it’s not right for you, up to 7 days upon start of the course, just tell us and receive a refund (less $100 for the eBook Training Guide) of your course fee. On the 7th day, upon the start of the course, there are no refunds issued. If a course started on May 1, students would have through May 6 to receive a refund of their course fee (less $100 for the eBook Training Guide). On May 7, there would be no refund, for example. The eBook or training guide is made available for download 24 hours before the first class begins. For those groups who have registered for the in-person Knowledge Camp workshop, a 75% refund is afforded when canceling at least 45 days BEFORE the pre-training workshop begins. If canceling 44 days or less before the pre-training workshop begins there are NO REFUNDS.
If I apply for the Certified Pharmacy Benefits Leader (CPBL) certification am I required to pay both recertification fees for CPBL and CPBS?
The short answer is no. The $2500 fee for CPBL is a one-time fee. Once you certify or recertify as a CPBL, the CPBS certification is automatically renewed, provided you are in good standing, with no additional cost. Good standing means your current certification is active. The cost to recertify is $995 every two years.
If my company is a Certified Pharmacy Benefits Organization (CPBO), is each employee certified as a CPBS required to recertify every two years?
Gold certified organizations are not required to re-certify any employee who holds a CPBS or CPBL designation in good standing. Bronze and Silver organizations will be required to recertify each employee who holds one of our designations. If at any point, the Gold designation lapses, each employee is required to recertify once their certification expires.
What is the cost for the Certified Pharmacy Benefits Organization (CPBO)?
Submit a request for quote here.
How much time do I have to complete the self-paced course program of study?
Each course has a one-year time limit upon registration. Upon registration for the final exam, there is 30-day time limit to take the exam and submit your Capstone project. Otherwise, there is no time limit.
What will I do to renew my CPBS certificate?
You must complete PBIA approved recertification by taking one (1) self-study course and one (1) ethics credit every two (2) year recertification cycle. Click here for more details.
Will I get a notification if my CPBS certificate is about to expire?
Yes. You will receive an email notification 12 months before your CPBS certification expires.
What forms of payment do you accept?
We accept all major credit cards. Send a request to info@pharmacybenefitinstitute.com if you prefer an invoice.
How long after successful completion of the coursework is the certification awarded?
After your records have been reviewed, verified and approved, your certificate will be sent to you in the mail. The review of your records is usually completed within two weeks after you request the certificate.
How long has the CPBS certification been offered?
The CPBS designation was first available in 2014 and since then more than 750 students have taken the course.
Where can I register?
You may register online by following this link: REGISTER HERE! If it is easier for you, simply email us the full name and email address for each attendee and we’ll complete the registration process on behalf of your group then follow up with an invoice.
Am I able to register an entire group all at once?
Discounts are automatically applied upon registration and payment. If you are enrolling a group of 2 or more students, be sure to enroll them simultaneously or email us if payment is to be made separately.
- REAL EARLY BIRD : Complete registration at least 90 days before start of program and save $500!
- EARLY BIRD : Complete registration at least 45 days before start of program and save $250!
- DOUBLE BONUS : Register 2 to 10 team members at least 45 days before start of desired program and save $500 per student!
- TRIPLE BONUS : Register 11 or more team members to be trained all at once or in stages at least 45 days before start of desired program and save $750 per student!
What universities currently accept/offer this course for credit?
PBIA has entered into an education partnership with the University of Kentucky College of Pharmacy. Pharmacists and Pharmacy Technicians can earn up to 20.0 hours of credit toward continuing education from the Accreditation Council for Pharmacy Education (ACPE). The University of Kentucky College of Pharmacy is the first university to offer an accredited program dedicated solely to pharmacy benefits management education.
What organizations/associations recognize CPBS designation?
The Certified Pharmacy Benefits Specialist program is approved for continuing education credit with the Human Resources Certification Institute (HRCI) and Society for Human Resource Management (SHRM). In addition, PBIA has entered into an education partnership with the University of Kentucky College of Pharmacy. Pharmacists and Pharmacy Technicians can earn up to 20.0 hours of credit toward continuing education from the Accreditation Council for Pharmacy Education (ACPE). Finally, over 40 state Departments of Insurance offer up to 20 CE hours for this education program.
If I am currently enrolled in a CPBS course can I switch to a different course?
Yes, however on the 8th day or later after the start of the course you are currently in, the full course registration fee would again apply to transfer your registration to a later course. If you decide to switch to a later course on the 7th day or sooner from the start of the course you are currently in, you are not charged any additional fees.
Disclosure
These activities are self-funded by FiduciaryRx, LLC. If you have any questions or prefer to be invoiced
send your request to info@pharmacybenefitinstitute.com
What universities currently accept/offer this course for credit?
PBIA has entered into an education partnership with the University of Kentucky College of Pharmacy. Pharmacists and Pharmacy Technicians can earn up to 20.0 hours of credit toward continuing education from the Accreditation Council for Pharmacy Education (ACPE). The University of Kentucky College of Pharmacy is the first university to offer an accredited program dedicated solely to pharmacy benefits management education.
What organizations/associations recognize CPBS designation?
The Certified Pharmacy Benefits Specialist program is approved for continuing education credit with the Human Resources Certification Institute (HRCI) and Society for Human Resource Management (SHRM). In addition, PBIA has entered into an education partnership with the University of Kentucky College of Pharmacy. Pharmacists and Pharmacy Technicians can earn up to 20.0 hours of credit toward continuing education from the Accreditation Council for Pharmacy Education (ACPE). Finally, over 40 state Departments of Insurance offer up to 20 CE hours for this education program.
How do I apply for continuing education credit?
In some states it can take up to 90 days, after course completion, to get CE approved. Immediately upon registration it is the students responsibility to notify us at info@pharmacybenefitinstitute.com of your intent to apply for continuing education credit.
Can this course be included as an elective in a CEBS and/or RHU designation?
No, and the American College barely addresses pharmacy benefits. This is the first and only education
program focused solely on pharmacy benefits from the payer side.
What is entailed in the registration process?
Pay online during registration and you’re all set. Let us know if you prefer to submit payment via invoice
and we’ll get one emailed to you. One week prior to the start date all course materials will be emailed.
Disclosure
These activities are self-funded by FiduciaryRx, LLC. If you have any questions or prefer to be invoiced
send your request to info@pharmacybenefitinstitute.com
Certification Programs
Certified Pharmacy Benefits Specialist
Are you ready to increase your skillset around enhancing the pharmacy benefit experience? Consider becoming a CPBS!
Certified Pharmacy Benefits Leader
Are you ready to experience more confidence and fulfillment as well as a better ability to lead at work? Consider becoming a CPBL!
Certified Pharmacy Benefits Organization
Stand out among your competitors and show your stakeholders the unwavering commitment you have to pharmacy benefits management excellence!
Accreditation
In support of improving patient care, this activity has been planned and implemented by the University of North Carolina(UNC)-Chapel Hill Eshelman School of Pharmacy and Pharmacy Benefit Institute of America (PBIA). The UNC-Chapel Hill Eshelman School of Pharmacy is jointly accredited by the Accreditation Council for Pharmacy Education (ACPE) as a provider of continuing pharmacy education.
CPE
This application-based activity has been assigned ACPE UAN # 0046-9999-23-032-L04-P (eLearning) and ACPE UAN # 0046-9999-23-045-L04-P (Knowledge Camp Workshop) and will award 12.0 (1.20 CEUs) and 20.0 (2.00 CEUs) contact hours, respectively, of continuing pharmacy education credit in states that recognize ACPE providers.
Acknowledgement
This activity is jointly accredited by the University of North Carolina Eshelman School of Pharmacy and Pharmacy Benefit Institute of America.
The use of the HRCI seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.
TransparentRx is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP or SHRM-SCP. This program is valid
for 12 PDCs for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
Life and Health (L&H) licensees may earn up to 21 continuing education credits. Check with your department of insurance or email
maricor.bonjoc@transparentrx.com to determine reporting requirements and to confirm if we’re an approved provider of L&H continuing education in your state.