| If your organization is a payer of prescription | | | | seeking. |
| benefits, there are many compelling reasons why it | | | | When choosing a pharmaceutical consultant, make |
| should consider hiring a pharmaceutical consultant. A | | | | sure that the vendor you're considering uses a holistic |
| good consultant can help your organization save | | | | approach. A thorough prescription benefits |
| money, streamline processes, and find proactive | | | | management program should seek cost savings |
| solutions to special situations such as out-of-formulary | | | | across the entire spectrum of prescription expenses. |
| prescriptions and physician-administered drugs. Some | | | | At a minimum, this should include analyzing your |
| consultants can even reduce costs for emerging | | | | processes for efficiency, assessing your formulary |
| specialties, such as radiology. | | | | for savings opportunities, and negotiating drug prices |
| That said, not all pharmaceutical consultants use the | | | | with several major vendors. An exceptional |
| same approach. Some consultants focus only on one | | | | consultant will also be able to help you realize savings |
| aspect of the prescription benefits management | | | | on physician-administered drugs and radiological |
| process - for instance, formulary drugs. Other | | | | services. |
| consultants reduce costs by negotiating discounts | | | | Prescription benefit management programs can save |
| with specific drug vendors, and then steering doctors | | | | your organization considerable amounts of money, |
| toward prescribing medications made by those | | | | but only if they're properly structured. By making |
| vendors. Although both of these approaches may | | | | sure that your pharmaceutical consultant focuses on |
| yield some cost savings, they will ultimately not | | | | all of the areas of concern, you have a better |
| provide the long-term solutions that most payers are | | | | chance of realizing the savings you seek. |