PHARMACEUTICAL CLAIMS ANALYTICS
MyRxConsultant
Enable real-time pharmaceutical claims experience reporting with powerful analytics
Take control of your data with MyRxConsultant
Milliman MyRxConsultant is a pharmacy claims reporting platform that enables users to accurately view their pharmacy claims experience in real time. Users can track their drug spend, utilization, member costs, average wholesale price, dispensing rate, contract performance, and more.
MyRxConsultant lets users compare their contracted discount rates and savings by processing their pharmacy claims data, generating pharmacy benefit costs and experience reports on demand.
MyRxConsultant features
MyRxConsultant offers transparent, timely, and accurate reporting that empowers users to make data-driven decisions to better manage their pharmacy benefit costs.
Summary report
Users can view discounts, costs, and distribution of their pharmacy claims across four areas: mail, retail, retail 90, and specialty.
Ingredient cost report
Users can visualize contract performance through a drilled-down list of key cost and discount metrics.
Top drugs and drug classes paid by plan
Plan managers can quickly see which drugs and drug classes are driving plan spend.
Top 10 drugs by claim count
Users can see a snapshot of top drugs by utilization across all distribution channels.
Experience by drug type
Users have a cross-referenced view, which breaks down utilization and associated costs per category.
MyRxConsultant benefits
Review Pharmacy Benefit Manager invoices
Provide transparency into your pharmacy claims experience, allowing you to review your Pharmacy Benefit Manager (PBM) invoices with confidence.
Improve contract negotiations
Empower your negotiations with PBM using data-driven insights that show areas of underperformance.
Confirm contract performance
Leverage your claims data to monitor your pharmacy benefit performance against contract agreements in real time.
Identify cost drivers
Leverage reports that provide insights on the top drugs, drug classes, prescribers, and members behind high cost.
Track member utilization
Drill down to the member level and identify high utilization patterns using our Power BI-enabled reports.
Monitor spend
View pharmacy spend and dispensing rates across distribution channels.
Related services
PBM audit services
We are available to help clients audit their PBM arrangements to validate that the PBMs meet contractual integrity and financial obligations. We routinely perform audits of pharmacy claims, rebates, retiree drug subsidy, prescription drug event, performance guarantee, corporate compliance, and data validation.
PBM contracting
We help clients write, negotiate, analyze, and audit their contracts with PBMs. We bring an understanding of the ongoing changes and current cost factors in the pharmacy benefits industry and use it to help clients obtain the most favorable contracts with the best pricing possible.
PBM vendor request for proposal (RFP)
We help with vendor selection, including RFP development, PBM bidder selection, RFP fulfillment, proposal evaluation, and finalist selection.
Pharmacy plan design
We help clients create and analyze a robust pharmacy benefits plan model that also provides flexibility and affordability for both plan sponsor and plan members.
PBM implementation oversight
Once a PBM vendor has been selected, we provide PBM implementation oversight to ensure a smooth transition to the new PBM with minimal member disruption.
PBM ongoing support management
Our consultants can also work directly with a client’s PBM to provide improved economic control and a greater focus on quality of care and service to the plan’s members. This can help ensure the transparency of financial, clinical, and operational processes of the PBM operations, and also provides a way to manage cost with the integration of medical guidelines, disease management, wellness, and other clinical-based programs. On-going support and management we routinely provide to our clients includes reporting (monthly, quarterly, and ad-hoc), attendance at PBM meetings and presentations, independent assessments of cost and utilization statistics, and market checks for pricing terms for specialty and traditional medications.
Mitigating Increases in Pharmacy Trend
Watch our Pharmacy Benefit experts discuss the challenges associated with wasteful drug spending, and explain what plan sponsors can do to mitigate this trend.
MyRxConsultant resources
Products related to MyRxConsultant
Milliman Dynamic Pharmacy Analytics
Developed by analysts for analysts, SkySail ingests claims across the pharmacy benefit industry and produces in-depth, dynamic analyses for multiple uses.