Pharmacy Benefit Consulting

Pharmacy Benefit Consulting

Learn how your organization can benefit from pharmacy benefit consulting. 

What is Pharmacy Benefit Consulting?

Pharmacy benefit consulting solutions offered by Aon help employers, labor and trust organizations, health systems, and health plans improve their pharmacy (Rx) benefits management decisions and outcomes. Aon’s experienced Pharmacy Team consists of pharmacists, financial analysts and pharmacy experts with decades of experience negotiating with pharmacy benefits managers (PBMs) and holding them accountable for client results.

The Value of Pharmacy Consulting 

For many plan sponsors, the soaring costs of Rx benefits are a primary cause for concern. Decision-makers are overwhelmed by the complexity of many new point solutions, the ongoing vertical integration between carriers and PBMs and how to set strategy amid all this change. Aon's Pharmacy Team provides insight, decision-making and positive outcomes, allowing businesses to meet their Rx benefit objectives and improve performance. By partnering with Aon's Pharmacy Team, plan sponsors can ensure that their pharmacy solutions align with their unique needs, providing their employees optimal care while producing meaningful cost savings.

90%

Clients value Aon’s innovative and tenured pharmacy practice of former PBM executives, financial insiders and clinicians with PBM, healthcare and hospital backgrounds. Deep relationships and proven results allow us to achieve more than 90% repeat annual business and long-term client engagements.

Why Work with Aon

  • Large and Mid-Market Consulting Expertise

    Aon’s Directorship Consulting begins with the execution of a best-in-class request for proposal (RFP) process, with end-to-end RFP development, financial modeling and full-service implementation to ensure flawless execution of a final contract.

  • Aon Rx Innovation

    Aon protects client contracts against ongoing pricing methodology changes by auditing rebate group purchasing organizations, introducing a comprehensive suite of integrated Rx and medical audit solutions and developing point solution audits of vendors such as SaveOnSP and PrudentRx.

  • Renowned Rx Audits

    Aon performed over one thousand Rx-specific PBM audits last year, bringing much-needed clarity and reconciliation to our clients. Our auditors deeply understand complex PBM arrangements and gaps in the delivery chain that often require extra scrutiny.

  • Aon Pharmacy Coalitions

    Aon offers discounted group purchasing arrangements for self-funded plan sponsors from 500 to 60,000 members. Aon Rx Coalition (ARxC) represents 2.6M members and more than $4.5B in drug spend. On average, new clients save 20%, and current clients save 6%-12% annually via annual market checks.

How Aon Can Help

  • Innovative Rx Solutions

    We continually challenge PBMs to innovate – we drive pilots with clients across industries and collaborate proactively with our clients and their select vendors to ensure the best and most innovative outcomes.

  • Contract Negotiations

    We negotiate market-moving contracts that are transparent, acquisition-cost-based and have a significant impact.

  • Market Checks

    The hundreds of RFPs and financial evaluations we manage each year allow us to establish the top of the market for leverage in market checks and contractual reviews. Aon oversees multiple pharmacy coalitions of size and scale that provide a real-time understanding of market dimensions and pricing benchmarks. Our experience working with all PBMs, carriers and point solutions vendors helps us get the best deal for our clients.

  • Pharmacy Requests for Proposal

    We account for the impact of relevant market events during RFP creation and contracting (e.g., biosimilar impact on rebates, insulin and availability of limited distribution drugs) and dictate how PBMs adjust their RFP methodology and protect your interests.

  • Market-Leading Pharmacy Audits

    Our clients have made Aon the largest auditor of pharmacy claims in the country, and we conduct more than 1,000 custom-tailored, annual Rx audit engagements each year. 

  • Aon's Pharmacy Coalitions

    Clients who join one of Aon’s Rx Coalitions will gain improved purchasing power with PBMs that they would not get on their own. They can save money by using built-in annual market checks, competitive bids and inclusive Rx audits to oversee their PBM partner.

$60M

Last year alone, Aon located over $60M in actual, returnable findings for our clients through Rx audits.

More Pharmacy Insights

Read the latest articles, reports and updates about pharmacy insights from our team of thought leaders.

More Insights

Let’s Connect

Talk to Our Team

Are you ready to learn how your organization can benefit from pharmacy benefit consulting?