Pharmacy Benefit Management (PBM)

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Pharmacy Benefit Management (PBM)2019-08-11T04:04:53+00:00

Project Description

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Background

The Ohio State University is a large public university in Columbus, Ohio. Founded in 1870 as a land-grant university and ninth university in Ohio.  The university was originally known as the Ohio Agricultural and Mechanical College. The college began focused on training students in various agricultural and mechanical disciplines but and moved to a comprehensive university under the direction of then Governor Rutherford B. Hayes.

Client Expectations

  • The client was confident that their Medical Center had the subject matter expertise to negotiate the best deals for pharmaceuticals

  • There were no expectations and they were not interested in have another consultant review their program

Project Planning 98%
Graphic Design 92%
Branding 96%
Multimedia 98%

Project Scope

66,000 Students and 46,000 Employees, Largest Public University, Six Branch Campuses

Process

  • The consultant convinced the Ohio State University to collaborate with Ohio’s three retirement systems


  • The retirement systems’ spend dwarfed that of the university


  • Several competitive sourcing events were conducted by the parties


  • Agreement were made to have one formulary pharmacy management program

Results

  • Aggregated the pharmacy spend of Ohio’s three retirement systems and that of the Ohio State University to create a virtual pharmacy consortium with $1B in annual spend.

  • Net savings for the University was $3.2M/year

  • Net saving for the employees was $900,000/year


  • Rx Ohio Collaboration/Pharmacy Benefit have grown to over $3B in annual spend

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Thought Leaders

Sower & Associates has experience assisting clients in businesses as diverse as: oil & gas, retail, food service, injection molding, industrial coatings, plywood manufacturing, hospitals, county government, package delivery, insurance, industrial machinery, and universities. These case studies demonstrate how we adapt our unique blend of skill sets to so many different industries.

Wide Range of Services

Our consulting services are wide reaching and include: cost management model creation, cost model training, strategic sourcing project execution and training, logistical design, statistical process control training and implementation, training in approaches to problem solving, training and assistance in continuous quality improvement and total quality management programs, evaluation of customer satisfaction, innovation management, change management, and curriculum design.