The Facts
- Company: Glenbrook School District 225 (Chicago, IL)
- Lives Covered: 2,400
- Annual Drug Spend: $4,500,000
- Solutions: Truveris Marketplace
- Projected 3-Year Savings: $2,300,000+ (~21%)
The Problem
With healthcare costs rising, Glenbrook High School District 225, based in Cook County, Illinois, sought to explore new strategies to manage their pharmacy benefits program.
The school district wanted to increase transparency around their PBM options, evaluate more cost containment approaches, and gain more control over their pharmacy program.
One year into an existing 3-year PBM contract, Glenbrook partnered with Truveris to assess whether they could get a better pharmacy benefits plan. Through harnessing Marketplace technology, Truveris ran a pharmacy benefits procurement process with the goal of providing Glenbrook with the best PBM contract option that maximized patient access and minimized costs.
The Solution
The Truveris Marketplace solution is a data-driven PBM procurement platform that connects employers to the best PBM vendors, contract prices, and terms through a patented, reverse-auction bidding process. After analyzing Glenbrook’s historical claims data and fully understanding the key pharmacy benefit needs for their specific membership, Truveris’ industry and clinical experts determined the appropriate bid strategy to meet Glenbrook’s goals.
Truveris engaged multiple vendors to compete for Glenbrook’s business through the Truveris Marketplace, which led to 5 key bidders, including the incumbent PBM. After an analysis of the submitted offers to determine the best performing contract, Truveris shared the submissions and conducted a second round of bids to improve the terms further. Once all final submissions were received, Glenbrook and Truveris reviewed the options and discussed how the conditions and terms of each offer would impact Glenbrook’s pharmacy benefits plan and members. Ultimately, after reviewing the offers, Glenbrook elected to make a change to their program and accepted the most competitive PBM offer.
The Results
Analysis showed that even with early termination fees from their existing PBM, Glenbrook would save about $2.3M over the course of 3 years. This projected savings represents a 21% improvement from their existing PBM contract.
