ST. PAUL, Minn.— The Burchfield Group, a nationally recognized pharmacy benefit consulting and auditing firm, points to the announcement that Express Scripts, Inc. will buy Medco Health Solutions for $29.1 billion in cash and stock as a ‘sea change’ for the PBM industry.
Brian B. Bullock, R.Ph., president and CEO of Burchfield Group, leads a team of experts offering recommendations, actionable information, and new market opportunities created by this change for Fortune 500 corporations, large and small employers, Taft-Hartley Trust Funds, Third Party Administrators, health plans, insurers, benefits/HR executives, and Integrated Delivery Networks.
Brian B. Bullock, R.Ph., president and CEO of Burchfield Group, leads a team of experts offering recommendations, actionable information, and new market opportunities created by this change for Fortune 500 corporations, large and small employers, Taft-Hartley Trust Funds, Third Party Administrators, health plans, insurers, benefits/HR executives, and Integrated Delivery Networks.
“We are helping clients assess how best to take advantage of this change, which will work itself out over time,” Bullock said. “There are very few cases where plan sponsors need to make immediate decisions that have long-term consequences, but new opportunities will present themselves, and there are reasons to see this as a positive development for plan sponsor pricing.”
Burchfield anticipates a long-term decrease in pricing and believes that on the whole, the pros of this deal outweigh the cons. In the overall value chain, the retailer is the most vulnerable and will be squeezed to generate savings.
“For plan sponsors, now is a great time to conduct an RFP for PBM services, since the uncertainty of this climate may work to their advantage and vendors will potentially provide aggressive pricing to either gain or preserve market share,” says Bullock. “Those not currently conducting an RFP or renewal negotiation should take time to assess their needs and the marketplace – and engage an independent pharmacy expert to assist in the assessment.”
Access a detailed analysis: Burchfield Pharmacy Benefit Update and http://www.youtube.com/user/BurchfieldGroupInc.
About The Burchfield Group
The Burchfield Group is a nationally recognized pharmacy benefit management consulting and auditing firm. They save their clients millions of dollars on their pharmacy spend while preserving the quality of their benefit. Burchfield helps plan sponsors evaluate and select PBM vendors, design pharmacy benefit plans, monitor plan and PBM performance, and audit results. Current clients include many Fortune 500 corporations, large and small employers, Taft-Hartley Trust Funds, third party administrators and health plans. Visitwww.burchfieldgroup.com.
