Pharmacy Benefit Managers (PBMs), frequently surround the payment of rebates with "mystery," resulting in too little information regarding the generation of rebates and/or current market shares to allow clients to act in a timely manner to achieve contract market share targets. This can result in a failure to maximize rebate potential, i.e. dollars lost.
Provider Synergies' reports are designed to provide our clients with the ability to address utilization in a timely manner, improving their ability to achieve market share targets and maximize rebates. Provider Synergies uncovers cost saving opportunities for our clients through our financial modeling process. We provide quarterly reports detailing preferred drug list recommendations to optimize the net cost of drugs for our clients.
Provider Synergies has developed a proprietary application to assist in the systematic review of clients' utilization data. This system provides the clinicians and analysts of Provider Synergies with the ability to review utilization data in an almost infinite number of combinations. The data housed within the decision support system (DSS) includes both actual claims data for the client along with financial data including Federal, Supplemental and/or market share-based rebate information. The system quickly provides information such as market share shifts within each Therapeutic Drug Class and side-by-side product comparisons with a focus on net costs and utilization trends. Having this hard coded utilization data coupled with client-specific financial data provides Provider Synergies with a unique and comprehensive understanding of the pharmaceutical market.