CORE CAPABILITY – PHARMACY / RETAIL OUT-OF-POCKET PRICING APPROACH

CORE CAPABILITY – PHARMACY / RETAIL OUT-OF-POCKET PRICING APPROACH

The Situation

A client needed to determine their pricing at pharmacy and wanted to understand the implications of different prices.

What Mind Machine did

We provided an analysis of top competitive products and patient out-of-pocket costs at pharmacy under varying types of coverage – high deductible health plan, coinsurance, copay, and cash to evaluate. Then we recommended pharmacy programs to lower out-of-pocket costs for patients until pharmacy benefit coverage with payers was secured.

The Result: Our client received our competitive pricing recommendations, and pursued pharmacy programs to lower out-of-pocket costs for patients at launch. This program was rolled out at Walgreens, CVS and other top tier retailers – totaling some 30,000 stores, where the product’s launch was seen as highly successful.