Prescription drugs are responsible for a significant chunk of workers’ compensation costs. Ensuring appropriate utilization of the right medications for the best value goes a long way in reducing expenses. That’s where a pharmacy benefit manager (PBM) comes in.
Today, however, PBMs go beyond prescription management. They are coming to the table with clinical expertise, advanced data and analytics, and regulatory savvy that can help employers maintain healthier, more productive workforces that ultimately move their businesses forward.
But choosing the right PBM partner is easier said than done. No two organizations offer the same services, solutions and tools. Employers must do their due diligence to ensure they get the value they are looking for over the long term.
“In the workers’ comp world, everything is custom, and you really have to start from that perspective,” said Mike Cirillo, president of myMatrixx. “There are a few key aspects buyers should investigate to ensure they are partnering with the right PBM for them.”
Click below to glean the three key factors of choosing the right workers' compensation PBM to improve your program!