The Collective Strategy for RX benefits has a proven track record of delivering aggressive financial performance for Employers Health members, for more than fifteen years. Employers Health holds strongly the position as the leader in the employer-led coalition landscape with:
- 100 individual plan sponsors
- 650,000 covered lives
- Representation of members in all fifty states
- Spend at nearly $850 million each year
The realized savings is greater than any plan could achieve individually, and members range from a few hundred covered lives to more than 40,000.
In addition to exceptional customer service and account management services, participating members tell us they value:
- Clinical oversight: Members benefit from a staff pharmacist that regularly provides information on topics such as new drugs, generic launches, plan design strategies and overall trends based on actual plan data. At no additional cost members benefit from first-hand knowledge and having their best interest represented with vendors.
- Plan Oversight: A dedicated Member Services is team readily available, and acts as an extension of the benefits team working with vendors to assist with acute issues to managing more complex scenarios like performance guarantees.
- Contract Oversight/Audit: With two staff attorneys, members rest assured that all contractual obligations and legal aspects of vendor contracting and auditing are covered. All recoveries as a result of a no cost independent third party audit are passed back to the appropriate plan sponsor. Additionally, plan sponsors appreciate the ability to connect their legal department with the Employers Health legal team to answer questions and work through negotiations.
- Data Analytics/Reporting: In addition to reports from vendors, members benefit from objective ad hoc reports to help interpret plan performance metrics. Members are also able to receive assistance with reviewing projected budget numbers or advice on plan design changes.
- Networking: There is much to be learned from colleagues and peers. One of the most mentioned added benefits of membership in Employers Health is the opportunity to engage with, share and learn from other like-minds. Members benefit from dozens of opportunities to do this, each year.
- Added Benefits: As a leading employer-led purchasing coalition, members have access to benefits that most direct-to-vendor relationships are unable to leverage. The team at Employers Health helps facilitate these relationships, and looks for every opportunity to bring added value to the equation.
Additionally, the value realized from membership does not prevent your organization from setting its own plan design strategies, managing vendors, or working through established consultant relationships. It does, however, ensure that organizations get the most out of their PBM relationship while plan participants have appropriate access to needed medications and the best possible cost.