Pharmaceutical benefit managers and management companies serve as intermediaries between insurance companies, pharmacies, and drug manufacturers. They bring together employers/plan sponsors, health insurers, plan members, drug wholesalers, pharmacies, and drug companies to facilitate better health outcomes at an affordable cost.
Benefit managers are hired by corporate employers, labour unions, health plans, and other institutions to meet their requirements, which is crucial to ensure the success of benefits plans, reduce expenditure, and safeguard the well-being of employees. The demand for benefit management services has grown due to the rising prevalence of chronic diseases and increasing healthcare expenses.
Discover the top pharmaceutical benefit managers and management companies
Pharmaceutical Technology has listed some of the leading benefit managers and management companies in the industry based on its intel, insights, and decades-long experience in the sector. The list includes companies that offer various benefit management services, including but not limited to:
· Regulatory compliance
· Health intelligence and analytics
· Investigative services
· Operational improvement
· Implementation services, and
· Claim process management
The information contained in the download document is intended for benefit managers, executives, manufacturers, distributors, suppliers, health insurers, product development scientists, and other individuals involved in the pharmaceutical industry.
The document contains detailed information on the suppliers and their product offerings, alongside contact details to aid your hiring decision.
The role of pharmaceutical benefit management companies
Pharmaceutical benefit management companies facilitate negotiations with drug manufacturers and retail pharmacies for managing expenditure on drugs.
Many of these companies combine traditional ways to control the price and usage of medications with new factors to establish organisations with the primary role of managing the pharmacy benefit. They may receive a fixed amount from pharma companies on a contractual basis for their services or may provide pharmacy services themselves.
The pharmaceutical benefit management companies providing full services may offer several functions such as establishing pharmacy networks for use by plan members, electronic processing of claims, encouraging the use of generic products, managing existing formularies, and developing clinical practice guidelines-based disease management programmes.