Lowest Net-Cost Philosophy
While rebates and discounts are important, we focus on all factors to reduce overall cost, including formulary and drug mix.
Your formulary or drug mix can make a huge impact on overall plan costs. Our lowest-net-cost philosophy provides clinically sound, cost-effective alternatives, such as generics or less expensive brands, creating a high-performance formulary that consistently delivers the lowest net cost. While rebates alone are not the goal of our business model, our formulary, with its lower average wholesale price (AWP) starting point and focus on lowest net cost, makes it possible to achieve substantial rebates, without paying more, which lowers PMPM costs. With Navitus you:
- Get a high performance drug mix (i.e. low cost generics, less expensive brands) that consistently delivers the lowest net cost and reduces PMPM expenses
- Achieve substantial rebates without paying more with our low AWP starting point
Why is PMPM important?
It provides a clear picture of your true, ‘all in’ costs from administrative fees and rebates, to clinical programs and discounts. PMPM also measures spend vs. trend, which more accurately depicts a plan’s true cost.
Successfully Lowering PMPM
Navitus clients experience lower than average PMPM. In fact, in 2019 we helped our commercial clients achieve a PMPM of $78.12, which is 16% lower than the forecasted* industry average of $93.11. But the savings aren’t limited to one year. Looking back over 5 years we held PMPM costs to a significantly lower number than the industry average, helping our clients save more. Cumulative PMPM savings over the past five years total to $64.77 PMPM. This is nearly a year of spend! Some plan sponsors see it as a ‘Buy 5, get 1 free’!
*Forecasted trend increase based on data from the 2020 Economic Report from the Drug Channels Institute.
Why Choose Us
The Bottom Line
When you work with a fully transparent and pass through PBM the results are a given, but the experience is unique. Our expert advisors will lead you into a new adventure in pharmacy benefit management where you’ll get:
• Clarity into your pharmacy benefit costs and savings opportunities
• The Guidance to get your benefit management going in the right direction
• Peace of mind that our expertise and experience are on your side every day
As a result, we make managing your Rx benefits feel less like work and more play. On top of that, our clients experience a substantial savings of 10-15%. We call it Pharmacy Benefits Reinvented.
We cannot say enough positive things about transitioning our specialty pharmacy services to Lumicera. The Navitus account team had a high level of engagement prior to and post migration to ensure quality continuity of care. L.A. Care is delighted with the smooth transition and our members have provided extremely positive feedback. We know we are in good hands with Navitus and couldn’t be happier with our new specialty partner, Lumicera.
Chief Pharmacy Officer, L.A. Care
With this insight into Navitus’ operations and access to data, I am able to make sensible decisions with the best interest of the Trust in mind.
Administrative Manager, San Diego Electrical Health and Welfare Trust
Navitus made my job so much easier and less worrisome. They assisted us in ensuring our significant formulary change went smoothly. The financial savings we experienced have exceeded what we anticipated. Navitus has lived up to its promises.
Chief Human Resources Officer, West Tennessee Healthcare
Our holistic approach to well-being will always include solutions with innovative partners like Navitus that allow our staff to save money while enhancing their quality of life. The integration of pharmacy benefits and our other well-being solutions are key to our staff's success.
Benefits Manager, Compassion International