- A Global Leader in HR Consulting retained TransparentRx to analyze its current clients’ PBM contract weaknesses, construct targeted audits, and thereafter conduct a RFP to obtain a better PBM contracts.
- A Medicaid Insurance Company retained TransparentRx to draft a fiduciary contract, and to negotiate one-on-one with its existing PBM. An audit approximately six months after the new contract’s inception reflected the new contract had decreased the insurer’s costs by 17% (taking into account the impact of drug manufacturers’ increased prices). At the end of the initial three year contract term, the insurance company signed a PBM service contract with TransparentRx.
- A Mid-West Health Coalition retained TransparentRx to advise the coalition about weaknesses in its current PBM contract, make recommendations concerning the scope of an upcoming audit, and conduct a RFP to locate a PBM with costs and services aligned to plan goals. With our fiduciary model the coalition was able to lower pharmacy costs by 11% without reducing member access or benefit levels.
- A Large Third-Party Administrator retained TransparentRx to conduct and evaluate RFPs. As a result of our analysis, the TPA replaced its existing PBM thereby cutting costs by 14%. The TPA is still an existing client.
- A Union Consortium, representing almost 25,000 members, conducted a PBM RFP and retained TransparentRx to negotiate and draft a new PBM contract at its conclusion. One and a half years later, the consortium again retained TransparentRx to negotiate a new PBM contract, and when the incumbent PBM refused to provide improved terms, the consortium signed a PBM services agreement with TransparentRx.
- A Self-Insured Energy Company with 5,122 employees retained TransparentRx after a comprehensive RFP process. We drafted an entirely different form of contract [fiduciary] that enabled the energy company to use on-site Health Clinics to dispense medications and monitor patient adherence. Because we x-ray claims data, aggressively manage utilization and target high-cost drugs to implement better management and cost controls, the energy company reduced PBM service costs by 27%.
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