Pharmacy Benefits Consulting Practice
Using data-driven analysis to provide confidence to purchasers of benefit services
is complicated and the acquisition of pharmacy benefits is among the most complex components. The Innovation Horizons Pharmacy Benefits Consulting Practices brings clarity through data-driven analysis to provide confidence to purchasers of benefit services. Our expert team of business and clinical analysis provides clients with in depth detailed analysis of pharmacy payment data and national commercial and government pharmacy claims that shapes insights on the value of their beneficiary services. Armed with extensive experience in pharmacy purchasing services, the Innovation Horizons team assists with benefit design, pharmacy benefit management negotiations, and analysis of third-party payment and program values. Our analytics and advisory services are based on over 60 years of pharmacy purchasing, health economic analysis, and clinical pharmacy programs.
How We Bring Value to Our Clients
Our approach is a comprehensive one whereby we seek an understanding of a client’s intended pharmacy benefits program goals are and how their beneficiaries achieve value through pharmacy benefits. We use data-centric approach to understand past performance, contract terms and adjustments, rebates, direct and indirect remuneration programs, average costs and pricing, and longitudinal modeling of pharmacy services. We include analyses of national trends, and we track the volatile trends in payment policy, consumer costs and pricing, economic forecasts of drug pricing, and supplemental pharmacy benefit services.
We bring these services to the clients through our proprietary analytic platform, Prescription Management Recommendation Services (RxRS), that enables clients to fully understand the performance of their payment in on monthly and quarterly analyses. The RxRS platform performs analysis of client data in a secured, HIPAA-compliant environment that supports engineering of algorithms and longitudinal parameters of a client’s PBM program performance. Our clients leverage the past performance and models of future spend and quality performance through a client user dashboard.
Our advisory services support the client’s needs for PBM options, conduct strategy development with brokers, and guides strategies that enable the client to gain a position of strength in contract negotiations.
Who Do We Serve
Employer purchasers of health care benefits, researchers, and government agencies. Innovation Horizons currently works with the DCRx: The DC Center for Rational Prescribing. More information can be found @ dchealth.dc.gov/dcrx.
Want to Learn More
See our Business Briefs for more details and deep insights into pharmacy purchasing patterns, policies, and practices.
The Customer’s Value
Trust and confidence in service through transparency, comparative analytics, and business insights is what we deliver. We support employers purchasing needs and provide effective monitoring of their benefits programs.