Race cars are powerful vehicles. They can hit speeds up to 200 mph, and the driver behind the wheel can experience anywhere from 2G to 5G forces during a race. But while the cars themselves have that power, not every driver can get them up to 200 mph. You have to know how to drive the race car to hit its max speed, especially if you want to hit that speed safely.
A good pharmacy benefit plan is like a race car in many ways. You have to know what’s under the hood, you need an experienced driver behind the wheel, and you have to stay on top of maintenance.
Know what’s under the hood
Race car drivers know the power of their engine and all the other parts of their car. They know how it works and how to get the most out of the car on any given day. They understand cars on a much deeper level than most people. They know the physics of how their tires are interacting with the road at various speeds, and they’re in tune with the sights and sounds of their car and what they mean.
For companies in the self-funded model who are choosing a PBM, it’s likewise important to know what’s under the hood. A lot of companies will let their broker choose a PBM plan, but how can you get the most out of it if you don’t know what’s included? Ask lots of questions about the details of the plan and ask to see the rebate contracts to truly understand where your money goes.
Put a trusted driver behind the wheel
Race car drivers start training at a young age—much younger than legal driving age for a car on the road. They learn how to handle a car at lower speeds and then increase their speeds over time. While racing might look simple and straightforward on the TV, there are hours upon hours upon hours of practice that go into running those tracks and making those turns. The driver behind the wheel has to be well trained and extremely well practiced for success.
The same is true for your PBM. You need a trusted partner driving your benefit—one who specializes in pharmacy benefits for self-funded companies. Sure, there are some highly recognized names for some PBMs out there. But is pharmacy benefits their primary focus? Do you have years of clinical pharmacy experience to help you understand and configure your plan? Do you trust them to have your best interest at heart?
Take care of proactive and reactive maintenance
Ever watched a pit stop during a car race? It’s an impressive thing to watch as the pit crew changes tires, refuels the car, and makes any mechanical adjustments needed. Those pit crews train just as much as the drivers to make sure they know the car and can take care of things as quickly as possible during a pit stop.
Your PBM needs ongoing maintenance, too. Some maintenance is proactive, like regular data analytics to help you better understand and maximize your plan. Other maintenance is reactive, such as adjusting the plan based on changes in your company size or major health issues among employees. You need a partner who stays on top of your data and makes recommendations to save you money while still taking care of your employees. And you need one who can respond quickly to situations that may arise.
If you’re looking for an experienced PBM partner who can help you understand and maintain your pharmacy benefit plan, contact MaxCare today to talk about your needs.