Pharmacy Vendor Services
Competition is increasing between workers’ compensation pharmacy vendors. What pharmacy vendors charge for prescriptions is often at or near each states maximum state fee schedule. Maximum workers’ compensation prescription state fee schedules are far higher than rates paid by private insurers and far exceed the actual cost of the drug, especially generic drugs.
More and more workers’ compensation pharmacy vendors are offering excellent discounts off of brand name and generic drugs. Those who pay workers’ compensation prescription claims are strongly encouraged to seek substantial savings on their pharmacy costs by “shopping” for better rates on prescribed drugs.
Covington Healthcare Associates employs a suite of high-value services designed to reduce workers’ compensation prescription costs. We have a record of success in assisting clients in substantially decreasing annual pharmacy expenditures through provision of the following services....
- Development of a request-for-proposal (RFP) for pharmacy vendor services
- Assist in evaluation of bid responses from pharmacy vendors
- Assist in selection of pharmacy vendor
- Assist in contracting of pharmacy vendor
- Assist in monitoring pharmacy vendor preference
Actual comparisons of drug specific vendor rates are available upon request. (click here to contact us).