PHSI Conducts PBM and Health Plan Training for National Retail Pharmacy Chain

IndustryRetail Pharmacy
ProblemA national retail pharmacy chain promoted an internal associate to manage PBM and health plan agreements but lacked the resources to train the individual on third party terminology that exists in network agreements. The chain needed an outside resource with PBM and health plan experience to provide a new perspective on contracting issues.
PHSI SolutionPHSI and the pharmacy chain developed a training outline of topics to be covered in the training session. PHSI reviewed the chain’s third party agreements and amendments to create a template of terms and conditions that the chain should include or exclude in their agreements. A PHSI consultant created role playing scenarios to train the new associate in negotiating favorable terms and differentiating “must have” elements from “nice to have” terms.
ResultsThe training session dramatically shortened the learning curve for the associate on this critical component of pharmacy profitability.