Pharmacy Benefit Consultants was founded by Attorney Linda Cahn. Since its founding, PBC has worked with numerous entities, including private corporations, coalitions, unions, insurance companies and government entities to decrease their drug benefit costs and improve their drug benefit coverage.
Pharmacy Benefit Consultants was founded in 2005 by Attorney Linda Cahn, who had litigated against PBMs for almost a decade providing her with access to hundreds of PBM-client contracts and hundreds of thousands of confidential internal PBM documents. These documents revealed the omnipresent loopholes in PBM-client contracts, as well as the numerous industry practices that increase PBM clients’ costs.
Today, Pharmacy Benefit Consultants has dozens of clients, including corporations, unions, municipalities, state governments, hospital groups and commercial/Medicaid/and Medicare insurance companies. Some of our clients are small – with only a few thousand covered lives. Many are far larger – with hundreds of thousands of covered lives. Regardless, we systematically reduce the costs of our clients.
Our work for our clients varies, depending on need, and includes the following:
- Analyzing PBM-client contracts to identify “loopholes” and make recommendations for changes
- Drafting and negotiating PBM contracts – and amendments – to ensure lower costs
- Conducting contract-focused PBM RFPs
- Conducting audits
- Analyzing Claims Data to determine the extent to which clients are overpaying, and to make recommendations to decrease costs
- Providing ongoing services to regularly analyze claims data, continuously monitor contract compliance, routinely review drug spend, actively respond to marketplace changes, and ensure continuously low costs
In 2015, Pharmacy Benefit Consultants also founded a new Coalition, captioned The National Prescription Coverage Coalition. The Coalition enables corporations, unions, hospital groups and municipal entities to join an already-existing Coalition, take advantage of an already-existing PBM contract that was generated from a 9 month RFP that our firm conducted, and receive ongoing and continuous services from our expert staff of clinicians and financial analysts.
Pharmacy Benefit Consultants’ raison d’etre is clear: We want to ensure that all our clients have access to better prescription coverage benefits, at far lower costs for both the Plans and their plan beneficiaries.