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Innoviant PBM Program

A Collaborative with Tri-State Business Group on Health (TSBGH)

Is your pharmacy benefit plan designed to manage appropriate utilization and optimize your health care budget dollars? Continuously rising costs, new therapies, and complicated PBM contracts make it difficult to know if you are achieving success.

 

TSBGH and NBCH member companies have an alternative to typical pharmacy benefit plans.  The TSBGH self-funded pharmacy benefit group purchasing program, administered by Innoviant, provides an unobscured view of individual plan performance and consistently delivers savings.

 

Innoviant’s average cost per prescription is 22.9 percent lower than the prescription benefits industry.*  Through the collaboration, the TSBGH pharmacy program builds on this success, achieving uncompromising results through low PMPM costs – 28.8 percent lower than Innoviant’s already aggressively managed book of business plan performance.

  

To achieve these results, the TSBGH program employs unique, effective tactics to deliver optimal return on investment for every dollar spent:

 

o        Robust promotion of generics, yielding generic utilization rates near 80 percent

o        High clinical program utilization

o        Formulary management focused on lowest net cost therapies

o        Education that empowers benefit plan members to make informed decisions

o        Aggressive management of maximum allowable cost (MAC) rates for generics (as pharmacy contracts are revised with better pricing, these improvements are passed through to clients)

 

Organizations participating with NBCH have access to this purchasing program, and participating member companies have a direct contractual relationship with Innoviant which provides numerous advantages:

 

o        Goal alignment and accountability through full disclosure

o        Benefit design consultation and implementation support

o        100 percent pass-through of all discounts and rebates

 

What are employers saying?

“Innoviant provides outstanding informational feedback with guidance, suggestions, and explanations pertaining to current prescription usage, as well as recommendations for the future.  Their input is invaluable!  They are very responsive and proactive.”

 

- Linda Goeppner, Director, People Department, Jasper Engines and Transmissions

 

Would you like to learn more about impacting your bottom line?

Contact Lisa Gish with TSBGH at lgish@tsbgh.org or 812.424.9276 for your personalized plan analysis. 

 

About TSBGH

TSBGH is a coalition of local businesses working together to support and influence actions to improve the quality, cost-effectiveness, and affordability of health care services in the Tri-State area.

 

Since 1994, TSBGH has been representing employer health care purchasers throughout Southwest Indiana, Northwest Kentucky and Southeast Illinois that offer health insurance benefits to over 50,000 employees and dependents nationwide.

 

About Innoviant
Innoviant is a Pharmacy Benefits Administrator that offers better health care quality management to members, affords self-funded customers greater leverage with pharmaceutical manufacturers, and reduces pharmacy claim costs.

 

Innoviant manages group prescription programs by taking responsibility for group set-up, benefit structure, preferred products list management and customer service. Innoviant provides cost saving electronic claims processing services and has its own extensive national pharmacy network offering retail and mail order services at reduced rates. Innoviant makes it convenient and affordable to obtain prescriptions.

 

Innoviant offers its members the advantages of discounted pricing on prescription products and ease of processing. The electronic claims system applies the discounted cost directly to the product purchased when the Innoviant card is presented at a participating pharmacy. In addition, Innoviant has a comprehensive preferred products list that promotes additional cost savings to the sponsors and their members.

 

*Novartis Pharmacy Benefits Report, Facts and Figures 2008