Negotiate With Vendors

Start from a position of strength

Before you issue a request for proposal (RFP) or negotiate a contract for pharmacy benefit management (PBM) services, you must first understand PBM cost structures, revenue centers, pricing tactics and relative strengths and weaknesses.

Trivantage will provide the experience needed to understand PBM offerings, as well as industry dynamics and complexities. This leads to the knowledge required to negotiate contract terms from a position of strength.

Proprietary RFP and evaluation process

Drawing on our extensive PBM expertise, Trivantage has created a proprietary RFP and evaluation process that fully dissects a PBM’s offerings, including:

• Operational strengths, weaknesses and flexibility
• Pricing strategies
• Operating expenses
• Revenue centers and profit margins
• Impact of transparency models
• Clinical services and associated ROI
• Formulary and rebate net values
• Contracting strategies
• Information technology

A benchmark validation delivers a valuable perspective. Before initiating a PBM RFP, Trivantage validates 100 percent of pharmacy claims for up to a full plan year, identifying key discounts and fees which establish key pricing component baselines for accurate comparisons.

Knowledge drives best price negotiation.

We combine our analytical validation results with our proprietary definitions and proven methodologies to set RFP pricing requirements. Our process is structured to request and quantify both transparency via disclosure and pass-through pricing models, achieving three main objectives:

• Identify potential PBM pricing strategies
• Analyze and compare pricing on an “apples to apples” basis
• Assure price offerings include full disclosure and transparency

Custom RFP incorporates all essential information.

We customize our process to client specific business objectives and requirements, asking critical questions other RFPs frequently overlook. Throughout the entire process, our team brings PBM expertise to our client’s side of the table, assessing, quantifying and evaluating PBM capabilities.

Protect your interests

Once a PBM is selected, contracts are customized to ensure the terms negotiated are upheld and our client’s best interests are protected. Use Trivantage’s proprietary contract— not the PBM’s—to gain clear advantages:

• Incorporate all critical RFP requirements
• Ensure full disclosure and transparency
• Align language and PBM incentives with the terms of your benefit plan
• Put the benefit plan’s interests first versus those of the PBM
• Gain financial control and ensure negotiated terms are upheld
• Critical methodologies and definitions protect the integrity of all negotiated price terms