Today, controlling pharmacy costs has become increasingly challenging. With drug prices soaring, it’s essential for companies to have a robust strategy in place to manage and reduce these expenses. At BSI, we recognize the complexities involved and are committed to providing our clients with the most effective solutions to navigate these challenges. Here’s how BSI utilizes our partnership with AlignRx to help our clients take control of pharmacy costs and achieve substantial savings.

The Challenge of Rising Pharmacy Costs

Pharmacy claims can significantly impact an organization’s overall healthcare expenses. With drug prices reaching unprecedented levels. managing these costs requires a strategic approach. Many employers struggle to keep up with the rapidly changing landscape of pharmacy benefits, leading to unexpected expenses and inefficiencies.

BSI and AlignRx: A Strategic Partnership

To address the challenges of managing an effective pharmacy benefits program, BSI joined forces with AlignRx, a leader in strategic pharmacy solutions. This partnership provides BSI clients with comprehensive, best-in-class resources and strategies for managing pharmacy benefits effectively. Here’s how our joint efforts have made a difference:

1.   Independence and Objectivity

In an industry often driven by consolidation and competing interests, maintaining independence and objectivity is crucial. BSI prides itself on being a fiercely independent and privately owned company. Our recommendations and strategies are entirely focused on what’s best for our clients and are not dictated by our relationships with carriers and vendors. By partnering with AlignRx, we reinforce this commitment, guaranteeing that our clients receive unbiased advice and solutions tailored to their specific needs.

2.   Access to Best-in-Class Pharmacy Benefit Resources

AlignRx brings a wealth of expertise and innovative solutions to the table. Our partnership ensures that clients have access to cutting-edge pharmacy benefit resources, including tools and strategies that optimize pharmacy spending. This includes advanced analytics, cost-control mechanisms, and comprehensive reporting that helps identify and address cost drivers.

3. Strategic Solutions for Cost Savings

One of the key strengths of AlignRx is their ability to leverage carefully cultivated partnerships to secure the lowest possible pharmacy prices. Through strategic negotiations and a deep understanding of the pharmacy market, AlignRx helps our clients achieve significant cost savings year after year. This proactive approach ensures that our clients receive the most competitive pricing and effective cost-management strategies to manage their pharmacy spend.

Implementing A Pharmacy Claims Control Game Plan

Having a robust game plan for controlling pharmacy costs is essential to navigating ongoing challenges and unpredictable price increases. At BSI, our strategic partnership with AlignRx uniquely positions us to deliver exceptional pharmacy benefit management solutions. We start by thoroughly assessing the current pharmacy benefit expenditures to identify high-cost areas and evaluate the effectiveness of existing strategies. “By collaborating with AlignRx, our clients gain access to specialized expertise and advanced tools designed to manage and reduce pharmacy expenses efficiently” – says Shawn Hughes, EVP Client Retention. We implement targeted cost-control strategies, including formulary management, utilization reviews, and cost-sharing techniques, tailored to our client;s specific needs. In addition, we ensure continuous oversight of pharmacy claims and make necessary adjustments to maintain effective cost control to achieve long-term savings. With BSI, our clients can confidently address pharmacy cost challenges and secure substantial financial benefits.

Achieving Meaningful Savings

BSI’s commitment to providing clients with the best solutions to manage their pharmacy spend, coupled with AlignRx’s expertise in strategic pharmacy solutions, ensures BSI delivers a powerful solution to help clients manage and control pharmacy expenses effectively. Our comprehensive approach to pharmacy claims control, ensures that our clients not only navigate the complexities of rising drug costs but also helps them achieve meaningful savings.

In summary, controlling pharmacy costs requires a well-thought-out game plan and strategic partnerships. With BSI and our exclusive partnerships, our clients have the support and resources needed to tackle these challenges head-on and drive significant savings to their pharmacy benefit program.