Leading pharmacy data, analytics, and consulting firm launches revolutionary Pharmacy Benefits Management tool
MILWAUKEE, Wis., July 3, 2013 /PRNewswire/ – TRICAST, Inc. announces a revolutionary underwriting tool and RFP financial model, BidCAST, to the Pharmacy Benefit Management (PBM) industry.
TRICAST has been set apart in the industry for some time, with RFP at the core of the consulting arm of its business. “TRICAST’s cornerstone in the RFP model is our ability to compare, contrast and forecast the financial offers received by the PBM’s. This point alone sets us apart from our competitors simply because other firms cannot provide the sophisticated analysis in this arena that we can,” said President of TRICAST Greg Rucinski.
One of the unique features of this tool is compare actual performance to the contract offer at the same time the analysis is running. According to Vice President of Business Development Rob Shelley, “This tool will validate pricing and plan design, perform a thorough contract review and integrate trend all within the same process run. BidCAST “leap frogs” the industry standards of predictive modeling and accurate delivery solutions, and deploys results that everyone will understand.” This makes it the ultimate PBM contract underwriting tool as it incorporates pricing, benefit modeling and contract review in one.
In addition to the audit, review and modeling capabilities, BidCAST incorporates a market check of contracts into each review. This market check allows our consultants to compare and contrast results against benchmarked data, thus providing a more enhanced and thorough review of the offers that come in.
BidCAST offers many other advantages such as capturing all critical pricing elements, providing the most accurate snapshot of the PBM’s financial value proposition, providing guidance on formulary impact to cost in relation to rebates offered and considering critical trending elements such as specialty drugs.
TRICAST, Inc. is a leading pharmacy data, analytics, and consulting firm founded in 1997. TRICAST has leveraged more than 25 years of technology and claims processing expertise, extensive client insight and a team of industry experts to offer forward-thinking, full-scope pharmacy benefit oversight solutions to its clients. TRICAST provides audit services as the core of its business, and have assessed multiple types of pharmacy programs. The company’s broad experience across payors of widely differentiated size and type, combined with focused experience in pharmacy, enabling the delivery of comprehensive assessments of pharmacy programs. Learn more by going to www.tricast.com.
Contact: Kristin Karakis
Kristin Karakis, TRICAST
Ph.: 414.302.9733 Ext. 245