PBM Advisory Practice Tools
| Tool | Purpose | Examples |
|---|---|---|
| PBM contract review software | Analyze PBM contracts for hidden costs and violations | Proprietary tools; Excel-based models |
| Pharmacy analytics platform | Analyze pharmacy claims data | Springbuk; Innovalon; custom analytics |
| Benchmark database | Compare client costs to industry benchmarks | PBMI; Segal; proprietary benchmarks |
| CRM | Manage client relationships and opportunities | Salesforce; HubSpot |
| Project management | Manage client projects and deliverables | Asana; Monday.com |
Team Development
A scalable PBM advisory practice requires a capable team. Key roles: (1) pharmacy analyst — analyzes claims data and PBM contracts; (2) account manager — manages client relationships and project delivery; (3) clinical pharmacist — provides clinical expertise for formulary design and UM programs; and (4) business development — generates new client opportunities. Building this team allows the practice to serve more clients without the principal being the bottleneck.
Practice Economics
IQ Insight
The PBM advisory practice is a high-value, high-margin business. A practice with 20 clients paying an average of $4,000/month in retainer fees generates $960,000 in annual revenue. With a team of 3–4 people, the practice can deliver high-quality service to 20+ clients. The key to practice economics is standardized processes and deliverable templates that reduce production time without sacrificing quality.