GHP Q3 2021

GHP / Q3 2021 15 , Jul21289 VativoRx is a full-service, innovative, leading solutions provider in Pharmacy Benefit Management (PBM) and rebate management services. More than a benefits processor, VativoRx designs andmanages cost-saving prescription benefit programmes that provide opportunities to optimise overall plan performance while maintaining superior pharmacy benefits to the planmembers. From formularymanagement to pharmacy networks, to costeffective clinical programmes, VativoRx will look at the client’s programme from every angle to helpmaximise pharmacy benefits for members while still controlling costs. Global Health & Pharmamagazine has recognised VativoRx as the Best Full-Service Pharmacy Benefit Management Solutions Provider 2021 – USA, so we take a closer look at what makes it an award-winning company. VativoRx’s message is simple: PBMs can do better. As an industry, it can do better at lowering costs. It can do better in being transparent. It can do better to ensure that the patient has the best possible access to prescription medicine while controlling pharmacy spend and not compromising care. Managing prescription benefits is complex and specialised business. Consumers may not have the expertise and knowledge to effectively navigate through the pharmacy benefit management landscape. VativoRx is uniquely positioned to guide its clients through the ever-changing complex healthcare marketplace to find cost saving solutions for both the client and the plan members. It utilises its proprietary software applications to develop a custom plan for each of its customers, which balances both cost savings and member sensitivity. VativoRx is showing by example that PBMs can do better. CEO, managing partner, and co-founder of VativoRx, Lisa Quarterman has been involved in the PBM industry for more than 20 years. She founded and owned Cypress Care, one of the largest workers’ compensation PBMs. Lisa grew Cypress Care from one person in her basement to 450 employees. She sold the business and decided to take a break to raise her kids. After four years in retirement, she realised there was a need and opportunity to make an impact in the PBM space by helping clients manage their pharmacy spend. Her path crossed with Michael Bogachek, who was already established in the pharmacy business. Together, they came up with the idea to start a new innovative PBM business that would utilise technology to help clients manage their drug spend, reduce costs, increase adherence rates, and at the same time provide exceptional patient care. Lisa decided it was time to come out of retirement and make her mark in the PBM business. In 2016, Lisa founded VativoRx, which has now grown to be one of the most successful rebate management PBMs. Lisa was most recently awarded 2020 Entrepreneur of the Year by Healthcare Tech Outlook Magazine while VativoRx was also recognised as one of the Top 10 Pharmacy Management Solution Providers of 2020 and 2021. Looking towards the future of the PBM industry, VativoRx expects intensive focus around rising drug costs, non-adherence, and patient affordability. Everybody talks about the need for affordable healthcare, but when it comes down to it, the vast majority of the cost is borne by plan sponsors – the companies offering their members health benefits and the members themselves. VativoRx focuses on making that cost as low as possible while still delivering robust pharmacy benefits and outstanding service. Technology allows VativoRx to provide services at a minimal cost because its infrastructure and operations run so efficiently. This allows it to be very nimble and flexible while providing exceptional service. It is building software that’s integrating its company, its customers, and the healthcare providers altogether. The company plans to eventually build the pharmacy management with the total healthcare of a patient and give the healthcare providers the foresight into how the pharmacy prescriptions are affecting the total care of a patient. VativoRx offers what the large PBMs offer at a more affordable price, with transparency, and with proven results. VativoRx blends innovative technology with sound business strategies to deliver process enhancements and real healthcare savings. Its holistic approach to managing the healthcare spend, including customised utilisation management programmes that align with its clients’ interests, aggressive rebate management solutions, real-time access to claims detail and reporting, and flexible transparent pricing, makes for a better full-service PBM. Contact: Lisa Quarterman Email: lquar[email protected] Website: PBMs Can Do Better