Pharmacy Consulting

Pharmacy is by far the most complex benefit to manage. The risk is too significant to tackle without extensive Pharmacy specific expertise. Novus Benefit Advisors has the experience to cut your unmanaged cost.
Today, Pharmacy benefits represent, on average, 20%-25% of overall healthcare spend and that number is growing rapidly. Recognizing that each client has unique needs. Novus Benefit Advisors can help you simplify PBM selection, contracting, program implementation, vendor management and ongoing PBM contract compliance.
We don’t just help you find the right PBM solution for your organization, we ensure our contracts deliver. Novus Benefit Advisors will use advanced analytics that identify and validate savings for your benefit plan.

Novus Benefit Advisors can assist with:

  • - Identifying missed guarantees

  • - Dismantle the "Black Box" of PBM pricing

  • - Semi-annual contract compliance

  • - Plan Performance Analytics

  • - Hold PBMs accountable for financial performance and validate savings for your benefit plan
Novus Benefit Advisors is working with next-generation pharmacogenomics testing providers that analyses an individual’s DNA to help determine how he or she may respond to hundreds of medications.
Novus Benefit Advisors can offer a tailored and targeted, end-to-end solution that brings the benefits of pharmacogenomics to your covered population. Contact us for an introductory discussion about this next generation cost-reduction strategy.

Novus Benefit Advisors Rx Reprice Analysis

(* sample data)
  INCUMBENT Novus Benefits Express Scripts MedImpact WellDyne
Ingredient Cost $1,487,038 $1,421,854 $1,430,658 $1,495,109 $1,486,326
Dispensing Fees $10,387 $11,530 $10,154 $11,643 $11,530
Member Contribution -$255,210 -$255,210 -$255,210 -$255,210 -$255,210
Administration Fees $0 $0 $0 $0 $0
Rebates $0 -$352,603 -$310,099 -$247,261 -$192,708
Net Plan Cost $1,242,216 $825,571 $875,503 $1,004,280 $1,049,938
Annual Savings $416,645
33.5%		 $366,713
29.5%		 $237,936
19.2%		 $192,278
15.5%

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