Some of the benefits that Empire sees with the new pharmacy benefit manager:
- New products that can help customers manage their drug plan costs
- New reports that provide greater insights into plans and cost trends
- An improved prior authorization process
"Plan sponsors will be able to better manage their drug benefit plans through more robust reporting," notes Jan Foster, Associate Vice President at Accompass. She explains how this could include detailed claiming information such as how many of the drugs dispensed were single source or multi source, and could help plan sponsors direct employee behaviour. "If the plan covers name brand drugs, but many of the drugs had a generic equivalent, the plan sponsor could provide some kind of incentive for members to move to generic such as a higher reimbursement for generic drugs if there is one available."
February 1, 2015 is the planned transition date, with a series of communications planned between now and February.