The Evolving Pharmacy Marketplace
These types of cost savings are achievable for health plans through three specific pharmacy conversion programs. These programs provide measurable cost savings, THIS YEAR, right to your bottom line. And when combined can total almost $20 PMPY in savings (see Table). So for a plan with 15M members, almost $300 million in savings is attainable.
And even better, you'll be helping your members save money on their medications – as much as $400 on a single prescription. In these economic times, consumers are looking for ways to save, and through these conversion programs, you have the opportunity to help them achieve significant savings while creating more satisfied and loyal members.
Silverlink takes a proactive approach to member outreach by segmenting populations and then designing multi-channel campaigns to drive results. These programs apply consumer marketing analytics, are iterative, and constantly adapt, based on a champion / challenger approach.
These pharmacy conversion programs include:
With Silverlink's process innovation, our programs provide a seamless member experience requiring little effort on the consumers' part to make these cost-saving changes. In today's busy society, a personalized, targeted, and relevant message delivered via the right channel, at the right time and with the right information can drive dramatically improved outcomes.
| Program | Annual Savings Per Member | Annual Health Plan Savings (in $PMPY) | Savings for Health Plan with 15M Members |
|---|---|---|---|
| Therapeutic Interchange | $360 / year | $14.00 PMPY | $210M |
| Pill Splitting | $320 / year | $3.00 PMPY | $45M |
| Retail to Mail | $50 / year | $2.50 PMPY | $37.5M |
| Total | $19.50 PMPY | $292.5M |