It can be hard to believe, but we are able to offer tremendous savings on prescription medication costs without having to change your health plan.
Every employer strives to offer the best healthcare possible to their employees. It is a critical element of every employment package when trying to attract and retain the best and the brightest for your business. However, healthcare costs are complex and often balloon well beyond expectations. The pharmacy benefits manager you contract with is supposed to control those expenses, however, they have taken their role from one that creates savings and turned it into one that adds costs.
With our "cost-plus" pricing model, Forest Park Pharmacy can give you control of your healthcare costs while providing top-tier service to your employees from a locally owned and operated business.
#1: The Savings
The Pharmacy Benefits Manager (PBM) was created to manage the costs of prescription medications, and ensure that everyone was fairly billed and reimbursed. However, as it stands today they no longer save anyone money. In the last 10 years, fees from PBMs have increased by 300%. They predominantly tie those fees to medication costs. In fact, those fees and rebates account for 42% of medication costs in the United States.
Since those ever-growing fees are tied mainly to medication costs, they are paid by the plan payors, AKA the employers. This is where we are able to provide the savings. By removing your PBM from the process, we are able to offer medications at the actual market cost. We remove hidden fees and pass the savings directly to our customers.
#2: Cost-Plus Pricing
Forest Park Pharmacy has ended all of our contracts with PBMs. This is because the contracts restrict our ability to determine the prices and services we offer. Since we do not contract with any PBMs, we are able to offer cost-plus prices, as well as other services that would otherwise be disallowed, such as shipping medications.
"Cost-plus" simply means we charge the cost of the medication plus a fee for service. Another common cost-plus model you may be familiar with is a mechanic who charges parts plus labor. Our retail fee is $10, but we are able to bend that fee down in order to provide savings on a greater number of medications for our employer partners.
The graphic above lists the costs that the payor for Medicare (the government) is paying, vs what those same medications would cost at Forest Park Pharmacy. As you can see, the savings can be dramatic. However, even the low cost generics are cheaper with us. Atorvastatin is the number #1 most prescribed medication on Medicare. Moving that drug alone to Forest Park Pharmacy would save the US government $60,206,103.
Your costs won't be exactly the same obviously, but they will certainly be similar. In fact, most plans offer inferior coverage to Medicare in a number of ways that increase costs again. One example is that they often limit the ability of patients to receive 90-day quantities, and instead force them to visit the pharmacy every month which multiplies the fees collected and inconveniences your employees.
#3: How it works with us
If you would like to find out if we can help your business save, the first step is for us to analyze your claims data. We will determine which medications you are being over-charged for, then we offer a plan for transferring those medications to us for processing. You cover those medications for your employees at our pharmacy and we send a monthly statement. Every prescription that is completed by us saves you money. It's that simple.
We offer free delivery within five miles and since we don't contract with PBMs we are also able to ship medications. Shipping of 3 prescriptions or more is free and standard rates apply to fewer than 3. We're fast, personal and local. Your employees will love the experience at our pharmacy, and you will save.
Reach out at 682-250-3116 or complete the employer form to get started.