Pharmaceutical Strategies Group Unveils Solution to Double Drug Cost Savings
March 4, 2021“PSG Complete” is the latest in a series of drug management innovations from PSG
DALLAS–(BUSINESS WIRE)–#drug–Pharmaceutical Strategies Group (PSG), an EPIC company, is innovating in the drug management space again with the launch of its PSG Complete solution. The PSG Complete process safeguards client drug spend through continual oversight.
The PSG Complete model optimizes drug spend with careful diligence around six core components:
- Market check and procurement
- Contracting
- Strategic vendor oversight
- Auditing
- Program optimization
- Integrated benefit analytics—powered by Artemetrx
“We help our average client realize half of their total drug cost savings after the procurement and contracting stages,” said Michael Lonergan, RPh, President of PSG. “That’s why we’re launching this new way to manage drug costs and achieve maximum return on the pharmacy investment.”
“We lead the market in the creation of innovative solutions,” said Tracy Spencer, SVP and Practice Leader of Plan Sponsors. “PSG has kept a pulse on the industry for over 25 years. I’m proud to say that we have shaped it for the better of our clients by driving positive industry disruption. This latest innovation—PSG Complete—is a holistic solution that optimizes a client’s pharmacy program through the life of the contract. PSG Complete focuses not only on program savings but improved clinical outcomes and enhanced member experiences.”
PSG Complete uses data-driven insights to manage high-cost specialty pharmaceuticals, including those billed within the medical benefit.
“As gene therapies, biosimilars, and other complex pharmaceuticals launch, it is increasingly important for employers to have the benefit of clinically driven, integrated insights and PSG experts providing recommendations to stay ahead of the curve. That is why we have included both Artemetrx, our proprietary platform, and specialized-clinical consulting in the PSG Complete bundle,” said Michael Lonergan, RPh.
Many industry-standard practices taken for granted today—PBM contracting innovations like specialty pharmacy carve-out, split fill for high abandonment-rate medications, and non-essential drug exclusions—are all the result of PSG innovations for clients.
PSG saves clients $4.8 billion annually in drug costs by offering innovative solutions like PSG Complete.
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About PSG
Pharmaceutical Strategies Group, an EPIC company, relentlessly advocates for clients as they navigate complex and ever-changing drug cost management challenges. PSG’s innovative drug management solutions, including the proprietary data and analytics platform, Artemetrx, deliver actionable insights with exceptional financial and clinical value. PSG functions as a strategic partner through industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year.
Contacts
Media:
Samantha Rideout
Marketing Director
Pharmaceutical Strategies Group | An EPIC Company
[email protected]
469.974.6152