BeneCard PBF, a truly transparent PBM offering a pure pass-through business model, has been awarded the 2023 Excellence Award for Clinical Innovation by the Pharmacy Benefit Management Institute (PBMI) for their b Well Ahead model.
The innovative b Well Ahead offering, which encompasses the 2020 Excellence Award winning Care Coordination program, now includes proprietary machine learning technology. This advancement provides clients with the awareness of potential adverse effects ranging from disability to hospitalizations to death that could impact their members, while providing insight into budget considerations through spend predictability.
The foundation of this model, BenePrecise® leverages the science of pharmacogenomics, which makes personalized medication prescribing possible. Based on a member’s metabolism, the program helps reduce trial and error, making it easier to find the right medication, reducing adverse drug reactions (ADRs), and speeding up the realization of therapeutic benefits.
As outlined by Jennifer Fuhrmann, PharmD, Senior Vice President of Clinical Services, “depending on the members’ situation, our clinical care coordination teams have the ability to intervene with education, increased monitoring, and communication to ensure patient safety. These components round out b Well Ahead, which is consistent with the company’s mission to provide value, transparency, and strong clinical programs that put patients first, supporting the best possible health outcomes while reducing overall healthcare costs. “
“This product offering is the first of its kind within the PBM space,” says Michael Perry, President, BeneCard PBF. “The recognition by PBMI demonstrates that our patient-first predictive clinical model can provide immediate value. We continually provide a high-level of service and transparency by evolving our programs to serve clients and patients.” He continues, “Our customers stay with us because of our unique approach and unmatched commitment to our members’ well-being.”
The PBMI Excellence Awards have been presented annually since 2016. Nominees are evaluated based on the pharmacy benefit management program and the product’s success in delivering improvements. All submissions are reviewed and scored by the PBMI Excellence Award evaluation panel.