In attempt to address the rising costs of prescription drugs, Plan Sponsors—including Self-funded Plans (employers, labor funds, public sector, federal), Health Plans (commercial, Medicare, Medicaid, and Exchange Plans), and Regulated Markets (Medicare, Medicaid, Public Health Exchanges)—have turned to the services of Pharmacy Benefit Managers (PBMs). PBMs act as “middlemen,” processing prescription medication claims. However, PBMs have taken advantage of their positions as “middlemen,” adding extra fees and charges to the process, usually for their own financial benefit, resulting in higher prescription costs for Health Plans and patients.
With an in-depth knowledge of PBMs and the Life Sciences space, Frier Levitt provides unique services to Plan Sponsors with the request for proposal process, contract review and negotiation, and audit of PBMs for contract compliance and rebate compliance. Frier Levitt works in Plan Sponsors’ best interests, helping to reduce costs and prevent any mistreatment or abusive practices.
Frier Levitt provides a variety of legal services to Plan Sponsors including, but not limited to:
If you are a Plan Sponsor currently negotiating a contract or experiencing issues with a PBM, contact Frier Levitt today to speak to an attorney.