Relevant Healthcare Announces Its New Pharmacy Audit And Recovery Solution
Pharmacy cost inflation has reached its highest point in history, outpacing medical inflation by more than double. Relevant can help any organization audit its past claims and its current PBM contract, and recover overpayments.
- (1888PressRelease) June 24, 2016 - Chicago, IL - Relevant Healthcare, a national healthcare cost containment company, recently announced its newest cost savings solution - a Pharmacy Audit & Recovery service. With pharmacy costs continuing to skyrocket, organizations of all types are actively looking for ways to gain control over this sector of their healthcare spend.
"We are extremely excited about bringing this solution to market. Every day we hear at least one client or prospect complaining of the confusion, complexity, and costs associated with their pharmacy benefit. What is great about the solution we are offering is not only does it produce outstanding results through the recovery of funds and on-going savings, but we can provide an analysis to any interested party at no cost what-so-ever thereby removing any risk. Adding in the fact that our solution requires very little resources on behalf of the client, we expect to see a great deal of continued interest." - Scott Fuqua, President
Relevant's Pharmacy Audit & Recovery program can conservatively identify and recover between 2-4% of the total pharmacy spend on its 2-3 year retrospective audit of all paid pharmacy claims. With the average pharmaceutical cost per member of nearly $1,000 per year, pharmacy costs for organizations can quickly reach the 10s of millions of dollars per year. Relevant uses pharmacy industry experts and through a comprehensive audit of a client's PBM contract and past paid claims, is able to identify anomalies and overpayments related to several areas such as contract adherence on discount guarantees, the miss categorization of drugs, benchmark unit pricing, and many more.
To add to the value of the program, on-going auditing and monitoring services are offered at a reasonable per member per month fee to ensure that the client continues to experience costs per the contract with their PBM. This on-going monitoring and pricing concessions produces between 5-10% additional savings for clients.
Any interested party (TPA, Employer, Union, COOP, Insurance Plan, etc.) simply needs to contact Relevant Healthcare and provide a copy of the current PBM contract and a run of the last 12 months' worth of claims. Within a few weeks, Relevant will deliver a detailed analysis of their audit for NO COST. Should the interested party like the results being presented, authority is given to complete the audit of the remaining years of paid claims and to recover the overpayments. Overpayments are recovered and sent directly to the client. A percentage of those recoveries are then shared as payment for the service.
Relevant Healthcare Cost Containment is a minority owned (MBE), and union affiliated organization that provides savings solutions in high cost areas of Healthcare for Employee Benefits and Workers' Compensation. Our services benefit self-funded employers, insurance carriers, CO-OPs and Medicaid Plans seeking to control healthcare costs, Third Party Administrators needing to carve out expensive procedures for their clients, workers' compensation insurance carriers/TPAs looking to lower costs, and any Broker or Consulting Firm that is looking to bring more value to their clients. Our solutions focus on specific areas of healthcare treatment that continue to drive the major increases in costs and utilization: Dialysis, Diabetes, Surgery, Large Dollar Claims, Pharmacy, Fraud/Waste/Abuse, and our flagship, FREE Advanced Radiology Network that offers significant discounts on procedures such as MRIs, CT Scans, and PET Scans while also providing a Concierge Service for the patient.
If you would like more information about this topic, please contact Scott Fuqua at 855-328-5100 or email at sfuqua ( @ ) relevanthealthcare dot com dot
Contact: Scott Fuqua
Telephone: 855-328-5100
Cell: 708-415-7094
Email: sfuqua ( @ ) relevanthealthcare dot com
Website: www.relevanthealthcare.com
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam