PBM Contract Review
ARMSRx provides review, feedback and guidance of your current PBM vendor contract and in moving to a new PBM, we will work with you to negotiate the new PBM contract. The contract negotiation includes pricing components, rebates, administrative fees, pricing terms, provisions, definitions, performance guarantees and more.
Our continuous marketplace activity including RFPs, renewal negotiations, market checks, contract reviews and audits put us in an excellent position to advise clients on current terms, provisions, rates and rebates.
As the PBM industry changes, contractual protections become outdated and create exposure for clients. Many times, items not addressed in ‘silent language’ can be the client’s worst enemy. Our team has the skills and experience to identify these hidden areas in the language to protect the plan from risk.
As we monitor the ongoing contract, we will mediate discrepancies over contract issues; recommend whether a contract should be renewed, terminated or modified; as well as update and negotiate contract elements as appropriate throughout the term of the agreement.
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