Are Your Pharmacy Benefits Working as Hard as Your Members?

Brought to you by RxBenefits:

Are Your Pharmacy Benefits Working as Hard as Your Members?

Labor Day is a good time to revisit your healthcare partnerships. Help ensure your union members’ labor is matched by the strength of your pharmacy benefits partner.

Labor Day is an important holiday in America, born from the 19th-century labor movement that gave rise to the labor unions we know today. It’s a vital milestone in history, recognizing the effort, dedication and resilience that serves as our foundation. As we honor your members today, let’s also reflect on the support systems that sustain them - the healthcare that shapes not only their well-being but the health of their families.

Changing Times Call for Dynamic Solutions

Your pharmacy benefits are managed by a third-party vendor called a Pharmacy Benefits Manager (PBM). You may have a direct relationship with them, or you could be using a Pharmacy Benefits Optimizer (PBO) to advocate for you. And benefits advisors can serve as another essential layer, helping the whole process run more smoothly and efficiently. No matter your partner or partners, Labor Day can be the perfect reminder to take a closer look at all of them. The healthcare landscape evolves at a rapid pace. And in just a few years, your partnerships can become seriously outdated.

The right PBM, PBO, or benefits advisor, needs to grow and adapt just as quickly as the world around them. The dynamic legislative landscape and rising drug costs require urgency and rapid evolution to protect the care you provide your members. You need an advocate who keeps current with the changes and delivers transparent pricing and rebates. You need a partner who knows the value of clinical oversight, and knows how to use this oversight to advance the most effective and affordable medications for your plan. The net result in choosing the right partner? High-quality care and improved health for your members, with reduced long-term costs for your labor union.

Don't Ignore Inadequate Support

Note the warning signs of a sub-optimal relationship. If your costs are rising with little transparency or explanation or if your members complain about access to medications or prior authorization delays, then a review is already overdue. This lack of proactive support can point to even bigger issues, such as an overall inability to adapt to new regulations and union-specific needs.

Prevent a critical breakdown in your healthcare support and protect your members before irreparable damage is done. Ask these questions when evaluating your relationships. If the answer is “no” to any, take action immediately.

 Partner Review Checklist

• Does your partner’s culture align with union values? Do they demonstrate, on a regular basis, the same critical pillars that define you?
• Do they understand the specific needs of labor and unions?
• Do they work every day to advance transparency and advocacy in your relationship? Every interaction, no matter how small, should demonstrate these principles.
• Are clinical excellence and member support their top priorities? Advancement, improvements and successes in these areas should be communicated regularly.

Celebrate the Holiday with Confidence

Don’t let this Labor Day pass without taking a critical look at your current pharmacy benefits relationships. Don’t lose member trust and respect that you can never recover. If your partners aren’t putting in the same daily effort as your hardworking members, we can help.

“Choosing the right partner for a labor union is essential - your members have unique needs, and you need a partner who prioritizes their well-being, advocates for their interests, and delivers solutions tailored to their success.” - Jack Tew, General Manager/Strategic Markets

Schedule a consultation with RxBenefits to evaluate your current PBM or PBO. Let us provide assistance that streamlines and simplifies your pharmacy benefits process. Let us lighten the load and optimize performance for fund managers, union leaders, and benefits advisors, providing strategic savings and sustainable success.

We're with you every step of the way, supporting the health and well-being of union members. Make sure your partners have the same level of commitment.