Question / Intervention Goal / Objectives
Drexi is a full-service Pharmacy Benefit Manager (PBM) that gives plans direct contract pricing with pharmacies and eliminates hidden fees from the process. Drexi enables payors, employers, and consumers to reduce their prescription drug spending.
Drexi provided data on 3,448 pharmacy claims, showing the employer’s net cost for the drug and days’ supply with its previous PBM and its net cost with Drexi. The analysis included only claims for which identical data was available from both the previous PBM and from Drexi. Data from 1,223 claims was not analyzed since the identical drug had not been filled using the Drexi contract.
Findings / Metric/ Outcome/ Savings
The employer’s expense for the 2,226 pharmacy claims with its previous PBM was $185,724. For the same drugs and days’ supply, the employer paid $168,335 under the Drexi contract. Overall, the Drexi contract cost the employer 9.36% less. Savings on individual claims ranged from 95% to -670% (additional cost). More than 75% of the claims that incurred additional costs were $25 or less.
Savings for any individual employer would vary based upon their PBM contract provisions.