In my April column I mentioned our initiative to create a new and transformative pharmacy management partnership for our member employers. I am pleased to announce the execution of a pharmacy benefit management (PBM) services agreement with Navitus, a full pass-through pharmacy benefit solution.
Founded in 2003 and based in Wisconsin, Navitus serves over 5.5 million members throughout the United States. The organization’s standout business model is based on complete transparency and lowest net cost.
When compared with other PBMs, Navitus’ year-over-year net cost trend is the lowest in the industry. There were many other compelling reasons to select Navitus as our PBM partner:
- Pass through of 100% of all rebates and any other revenue received from pharma manufacturers and pharmacies (their only revenue stream comes in the form of administrative per member per month fees)
- Evidenced-based formulary management based on a lowest-net-cost-strategy, not rebates
- Superior customer service including industry-leading member satisfaction via its Customer Care unit
- Unrestricted audit rights with complete access to pharma manufacturer rebates, retail network pharmacy and mail and specialty network contracts
- Complete employer access to claim level data via its web-based reporting tool
This is a pharmacy management partnership BHCG is proud to present to our member employers. It combines financial performance with demonstrated service and clinical excellence with a business model that aligns incentives with the best interests of member employers.
We are planning a series of meetings for brokers/consultants and employers to share more about this exciting new addition to our suite of employer solutions. Register now for the broker/consultant meetings scheduled for July 10 and July 11.
The employer meeting is scheduled for July 10, 9:00 – 11:00 AM. BHCG member employers and non-BHCG employers should contact Joleen Hohl at 262-875-3312 X2 or jhohl@BHCGWI.org to get more information and to register.
We are enthused about this game-changing partnership and its contribution to the value proposition of BHCG membership. As always, please do not hesitate to contact me at 262-875-3312 x1 or jkluever@BHCGWI.org if you have questions or would like to learn more about BHCG.