People who know Pharmacy Benefit ManagementJennifer Wilson Addresses Self-Insurance Institute of America, Inc.
Windermere, Florida – October 17, 2008 – Benefits industry business leaders ascended on the J.W. Marriott Desert Ridge Resort in Phoenix, Arizona last week for the 28th National SIIA Conference. Jennifer Kingsley-Wilson, CEO of ARMSRx, a pharmacy benefit management consulting firm, presented a compelling presentation regarding “The Changing Landscape of PBM and the Specialty Pharmacy Marketplace”.
SIIA, the Self-Insurance Institute of America, Inc., is the only national association dedicated exclusively to protecting and promoting the self-insurance and alternative risk transfer industry. SIIA is made up of a group of established business executives who share common values and actively network together to empower and build our members’ businesses.
During her presentation, Ms. Wilson highlighted different tools and methodologies used to improve the pharmacy benefit bottom line. "I believe one of the keys to success in pharmacy benefits are truly transparent programs that fully disclose all fees and costs - this applies especially to small and medium sized self-funded employer groups who do not have the leverage or purchasing power of larger employers. The potential is there and the marketplace is moving towards transparency, but we aren’t there yet. That being said, I also believe that in this day and age, none of us as responsible providers, consultants or consumers can go it alone. If one looks closely at association and coalition plans, they are making the most traction in paving the way for transparency. As such, it is time to band together as partners, so as to provide a broad menu of opportunities and service and a clear voice on what our needs are, which American businesses and their employees richly deserve", states Ms. Wilson.
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ARMSRx is a pharmacy benefit consulting firm (not a pharmacy benefit manager) that specializes in saving payors money on their pharmacy expenditures. Most prescription benefit programs are based on financial arrangements that are complex, hidden and highly profitable to the Pharmacy Benefit Managers (PBMs).Our client's Association program has saved an average of 7-10%. Our vested interest is the payors and our mission is to align the PBM's business objectives with the payors benefit goals.