5 ways to improve PBM procurement for clients

Nearly a decade ago, plan sponsors' pharmacy benefit conversations focused mostly on member satisfaction and plan compliance. Today, fiduciary duty comes first, then member satisfaction, compliance and, of course, GLP-1s, which is why employers are counting on their benefit advisers more than ever to guide them through Rx matters. Times have changed, which begs the question, "What does it take to ensure plan sponsors meet their fiduciary duty?"  

Putting the pharmacy benefits manager (PBM) business "out to bid" every few years isn't enough. Given heightened scrutiny of traditional PBMs and rising Employee Retirement Income Security Act (ERISA) liability risk, plan sponsors should regularly evaluate their PBM options, prioritizing strategies that lower total costs, improve member outcomes and safeguard long-term plan sustainability. However, issuing, evaluating and managing requests for proposals (RFPs) from PBMs can be challenging.

Read more: Benefit managers face booming demand for GLP-1 benefits

Here are five considerations to help improve PBM procurement:

1. Start the RFP process early – and be specific
2. Deprioritize member disruption as a decision factor
3. Be wary of PBM coalition arrangements
4. Think beyond the spreadsheet
5. Break the addiction to rebates

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Read the full article on the EBN website (published 3/26/25) for more detail!

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