A 2024 survey from The Business Group on Health (BGH) found that pharmacy costs now make up 27% of total employer healthcare spend for larger employers, up 6% from 2021. Successfully controlling pharmacy costs can help employers significantly lower total healthcare spend, which is why Validation Institute is working on a new, expansive guide on selecting, managing, and monitoring PBMs.
It covers everything from fraud to pharmacy networks, from prior authorization to supply chains. To be published in early 2025, the guide will feature PBMs that have been validated by the Institute and deliver in-depth recommendations for:
- Audits
- Fraud, Waste, and Abuse
- Contract Review and Negotiation
- RFPs for PBMs
- Pricing Alternatives
- Network Configuration
- Rebates
- Communication Strategies
- Plan Design Strategies
- Retiree Coverage Options
- Clinical Management Strategies
