Third Party Administrative Services

Specialty drugs continue to be the fastest growing costs within the healthcare industry today.  While a very small subset of patients on specialty therapy, typically only 1-2% of the population, specialty therapy is the main driver of overall pharmacy trend.

 

Our Health Insurance Solutions strategy for RX benefits has a proven track record of meaningful change of delivering aggressive financial performance for members for more than 20 years.  HISI holds strongly the position as a proven leader in the employer-led Prescription Drug landscape with:

  • 68 + individual plan sponsors
  • 138,000+ members
  • Representation of members in all multiple states, the realized savings is greater than any plan could achieve individually, and members range from a 100 – 20,000 lives.

In addition to exceptional customer service, account management services and contractual guarantees, participating Employers Broker Partners tell us they value:

  • Plan Oversight: A dedicated Member Services team is readily available, and acts as an extension of the benefits team working with Brokers to assist with acute issues to managing more complex scenarios.
  • Contract Oversight/Audit: With our audit approach, Broker’s and their clients can rest assured that all contractual obligations and legal aspects of the PBM are represented and covered. All recoveries as a result of an independent third party audit are passed back to the appropriate plan sponsor.
  • Market check – Market check renegotiations during the contract term – ensuring savings during each year of the relationship over time to flatten cost trends.
  • Data Analytics/Reporting: In addition to reports from the PBM’s, Brokers and members benefit from objective ad hoc reports to help interpret plan performance metrics.