PBM business models are "Traditional," "Transparent," "Binding," & "Fiduciary." A Fiduciary has the highest standard of care at either equity or law. Fiduciary business models are new, there are very few, and the most beneficial for the plan sponsor.
The pharmacy benefit version of the “fee-only financial adviser” has emerged in response to a desire among certain pharmacy stakeholders to bring true transparency to the drug pricing process.
Under our PBM model, contracts negotiated between the PBM, clients, and pharmacies are designed to be as understandable and transparent as possible which, ostensibly, is meant to encourage the best therapeutic outcomes and financial interests for our clients (and their enrollees and patients).
There are fewer inherent conflicts of interest under a fee-only model and no additional margin gained from favorable tier placement on high-cost/revenue drugs. Coverage and pricing considerations are limited to the cost-benefit of the therapy itself, eliminating agency cost. Put another way, a fiduciary is the highest standard of care so why would you settle for anything less? Unlike our competitors, we eliminate catch phrases and offer a fiduciary contract which ultimately provides a reduction in both pharmacy and hospital costs.