AREAS OF EXPERTISE

Medical Services: Pharmacy

In the area of medical services, rising pharmacy prices present a real hardship for many consumers and employers. With the increasing cost of medications, along with escalating costs for pharmacy equipment and supplies, organisations continue to search for solutions to reduce pharmacy expenses. Some companies have turned to pharmacy benefit management (PBM) providers to help them control drug spending and utilization. Pharmacy benefit management providers oversee a company’s prescription drug programmes by serving as an intermediary between health plans, pharmacy companies, retail pharmacies, and patients to control drug spending and utilization. They encourage the use of generics and other lower-cost medications. Yet whether or not a company is using a PBM supplier to help them manage costs, additional cost-savings opportunities may exist. Is the incumbent PBM offering the best services at the lowest possible cost? What about expenses for other pharmacy products or pharmacy equipment? ERA consultants work with businesses nationwide to maximise cash flow, reviewing expenses to evaluate cost-savings opportunities.

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