People who know Pharmacy Benefit ManagementARMSRx RFP management services are all inclusive and involve the client at every step of the process allowing for control and direction as required by the client.
ARMSRx assists in the development and preparation of the Pharmacy Benefit Manager (PBM) Request for Proposal to create a document that is all encompassing and serves the client’s specific needs. As a part of developing the RFP we’ll discuss evaluation criteria and negotiation strategies. Once proposals are received, ARMSRx will analyze proposals using the evaluation criteria, compile the information and provide documented analysis of each vendor’s response. This will include each of the finalists’ responses as well as financial evaluations of proposed costs/savings.
ARMSRx will present and review findings with the client (in the format they choose) and recommend finalist(s) for interview if necessary. This will include coordinating on-site presentations according to the client’s availability.
Once the vendor field has been narrowed, ARMSRX will develop appropriate comparison information (rates, trends, etc.) for use in negotiations, recommend and evaluate performance guarantees, administration fees and reimbursement rates. If required by the client, we will participate in negotiation sessions with PBM(s)/vendors to formalize an agreement.
ARMSRx will continue to work with and support the client throughout the term of the agreement to monitor performance guarantees, update contractual provisions and be available to troubleshoot daily problems.