I’m often asked how benefits leaders can protect their budgets while still caring for employees. A true fiduciary mindset helps you raise the bar on cost management and keep your workforce healthy. Read my blog on using funds responsibly and see why it matters: https://lnkd.in/gdjrXcen 🤝💡 #FiduciaryStandard #EmployeeBenefits #PharmacyBenefits #HRTrends #CPBS #PBIA #TransparentRx
InsourceRx
Data Infrastructure and Analytics
Las Vegas, Nevada 694 followers
Data analytics firm that enables HR, finance, broker, and consulting teams to speed up reconciling of PBM performance.
About us
The pharmacy benefit optimization platform that enables HR, finance, broker, and consulting teams, InsourceRx, allows you to continue utilizing your current Excel financial models and spreadsheets while automating tedious tasks.
- Website
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https://insourcerx.com
External link for InsourceRx
- Industry
- Data Infrastructure and Analytics
- Company size
- 11-50 employees
- Headquarters
- Las Vegas, Nevada
- Type
- Privately Held
Locations
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Primary
10845 Griffith Peak Drive
Las Vegas, Nevada 89135, US
Updates
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💡 Data analytics isn’t just a buzzword—it's a powerful tool PBMs use to drive smarter decisions. But are those decisions serving your organization's best interests or theirs? 🤔 Radical transparency is key. A fiduciary PBM ensures data insights are used to optimize outcomes for you—lower costs, better health, and improved plan performance. Don’t let profit-driven analytics cloud your strategy. 🚀 #EmployeeBenefits #PBMTransparency #DataDrivenInsights #CFOs #HRLeadership #BenefitsBrokers #CPBS #PBIA #TransparentRx
How Pharmacy Benefit Managers Leverage Data Analytics – A Must-Read Q&A
https://transparentrx.com
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💡 Did you know that choosing a PBM with ownership ties to pharmacies can inflate costs under the guise of savings? 🤔 The recent push to break up PBM-pharmacy ownership highlights what industry insiders have long understood: integrated models often leverage perceived savings to justify higher overall spend. For Directors of Benefits, CFOs, and benefit brokers, this serves as a reminder to dig deeper. Selecting a fiduciary PBM that operates with transparency—not pharmacy ownership conflicts—can save your plan and members significantly over time. Let’s prioritize real value over optics. 💼💊 #PharmacyBenefits #PBM #EmployeeBenefits #CostManagement
Proposed Legislation Targets Pharmacy Benefit Managers, Calls for Pharmacy Divestiture [News Roundup]
https://transparentrx.com
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As benefits leaders, understanding PBM profit tactics is the key to controlling costs and delivering real value to your plan members. Many strategies used by PBMs can quietly erode your budget, but you have the tools to take back control. Our article, "Navigating PBM Profit Tactics with Confidence," is designed to empower you with insights to identify hidden fees, reduce waste, and ensure every dollar spent goes toward improving care. 💊 It’s time to champion transparency and fiduciary care for your members and your organization. Explore the article here 👇. #BenefitsLeadership #PharmacyBenefits #CostControl #CPBS #PBIA #TransparentRx
Take Back Control: Navigating PBM Profit Tactics with Confidence
https://transparentrx.com
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Navigating the complexities of PBM contracting doesn’t have to be a black box. 🛠️ TransparentRx's insights shed light on the importance of transparency and fiduciary responsibility in PBM agreements. By aligning PBM incentives with client interests, organizations can achieve significant cost savings while ensuring high-quality patient care. Embracing a fiduciary model not only enhances trust but also delivers tangible benefits to both employers and employees. #PharmacyBenefits #PBMContracts #FiduciaryResponsibility #EmployeeBenefits #PBIA #CPBS #TransparentRx
PBM Contracting and Administration: What Are the Rules of the Road for Self-Insured Employers? [News Roundup] TransparentRx
https://transparentrx.com
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💡 Data is no longer just a tool—it’s the driver of smarter medical and pharmacy benefit decisions. With the right analytics, plan sponsors can identify inefficiencies, predict trends, and create cost-effective strategies without compromising member outcomes. 📊 Empowering decisions through data isn't the future—it's the now. 🔑 Are you leveraging actionable insights to take control of your benefits spend? #BenefitsManagement #PharmacyBenefits #DataDrivenDecisions #CPBS #PBIA #TransparentRx
How Data is Revolutionizing Medical and Pharmacy Benefit Decisions TransparentRx
https://transparentrx.com
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The Inflation Reduction Act introduces significant changes for employer-sponsored health plans, particularly in prescription drug pricing and Medicare negotiations. Employers must proactively assess these developments to ensure compliance and optimize benefits for their workforce. 🔎 Key considerations include: → Prescription Drug Pricing: The Act aims to lower drug costs, potentially affecting plan formularies and cost-sharing structures. → Medicare Negotiations: Enhanced negotiation powers may influence drug pricing dynamics, impacting employer plan strategies. → Out-of-Pocket Caps: New limits on out-of-pocket expenses could alter plan designs and financial planning. Staying informed and adaptable is crucial for employers to navigate these changes effectively. #HealthCareReform #EmployerBenefits #PrescriptionDrugPricing #InflationReductionAct #EmployeeWellbeing Read more about the Act's implications for employer-sponsored health plans. 👇
The Inflation Reduction Act's Implications for Employer-Sponsored Health Plans [News Roundup]
https://transparentrx.com
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💡Did you know that your plan's Specialty Dispensing Rate (SDR) can have a massive impact on pharmacy costs? Specialty meds make up a small percentage of prescriptions but can account for 50%+ of spending! Tracking and optimizing SDR isn't just good practice—it’s essential for balancing costs and care. For example, increasing SDR from 3% to 4% on a $10M plan could add $4.5M in costs! 😮 🎯 Stay ahead by understanding SDR and leveraging insights to make smarter decisions. Dive deeper into SDR and learn actionable strategies here. 👇 #PharmacyBenefits #SpecialtyDrugs #EmployeeBenefits #CostManagement #CPBS #PBIA #TransparentRx
Specialty Dispensing Rate (SDR): Introducing a New Metric for Managing Pharmacy Benefits and Costs
https://transparentrx.com
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💊 Did PBMs inadvertently fuel the opioid crisis? This thought-provoking blog dives into how certain PBM practices might have amplified opioid prescriptions rather than curbing them. As fiduciary partners, we must constantly evaluate our strategies to prioritize patient safety over profit. This isn’t about pointing fingers; it’s about creating accountability and refining the PBM model to truly serve patients' well-being. Read more to understand the crucial role of PBMs in influencing patient outcomes and how adopting a fiduciary standard can reshape the landscape for the better. 📉🔍 #PharmacyBenefits #OpioidCrisis #PatientSafety #HealthcareTransparency #TransparentRx #PBIA #CPBS
Barron’s Exposé Details the Role of PBMs in Possibly Fueling the Opioid Crisis [News Roundup]
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💡 Formulary management can be a game changer for pharmacy benefit plans, but its complexity often gets overlooked. A well-designed formulary isn’t just about cutting costs—it’s about optimizing care and ensuring patients receive the right medications at the best value. 🏥💊 If you're a PBM consultant, employee benefits broker, or Director of Benefits, understanding how to balance clinical efficacy with financial strategy is crucial for your clients. Let’s make sure you’re equipped to help them navigate these complexities. Check out our latest blog to dive deeper into this important topic! 📖👇 #FormularyManagement #PharmacyBenefits #EmployeeBenefits #PBMConsultants #HealthPlans #BenefitsStrategy #CPBS #PBIA #TransparentRx
Is Your Pharmacy Benefit Delivering Maximum Value? Unpacking the Complexity of Formulary Management
https://transparentrx.com