The Fiduciary Difference: Why DisclosedRx Stands Apart as a PBM

Pharmacy Benefit Management (PBM) is a critical component of healthcare cost management, yet one term is rarely embraced in this industry: Fiduciary.

At DisclosedRx, we've made the conscious decision to operate as a fiduciary PBM, setting us apart in a field where such a commitment is uncommon. But what does this mean for our clients, and why isn't every PBM following suit?

Understanding Fiduciary Responsibility

A Fiduciary PBM is contractually and ethically bound to act in the best interest of its clients. This means every decision, action, and recommendation is made with the client's benefit as the primary consideration. It's a commitment that goes beyond mere customer service—it's a contractual obligation that holds us accountable for our choices.

While the concept of fiduciary responsibility seems straightforward, it comes with significant consequences for PBMs. By assuming this role, we open ourselves to liability for any decision that could be construed as not being in our clients' best interests. This increased accountability is why other PBMs accept fiduciary status.

The industry standard often involves PBMs making decisions that prioritize their own interests. This begs the question: If a PBM isn't willing to take on fiduciary responsibility, whose interests are they really serving?

Why We Embrace Fiduciary Responsibility

Despite the challenges, DisclosedRx has chosen to become a Fiduciary PBM. We believe that doing business the right way leads to building a better business. This commitment fundamentally shapes our operations:

1. No Spread Pricing: We can't artificially inflate drug prices.
2. No Pharmacy Ownership: We avoid conflicts of interest in drug distribution.
3. No Formulary Placement Fees: Our drug recommendations are based on efficacy and cost-effectiveness, not financial incentives.
4. No Rebate Retention: All manufacturer rebates are passed through to our clients.
5. No Kickbacks: We don't receive compensation from international supply channels or any entity other than our clients.

The Payoff: Aligned Interests, Better Outcomes

Our fiduciary status means our goals are inherently aligned with those of our clients. This alignment translates into tangible benefits:

1. Better Service: Our success is directly tied to our clients' satisfaction.
2. Improved Negotiations: We leverage our expertise to secure the best deals for our clients, not for ourselves.
3. Lower Drug Costs: Without conflicting interests, we're free to pursue the most cost-effective solutions for our clients.

The DisclosedRx Difference

In an industry where fiduciary responsibility is the exception rather than the rule, DisclosedRx stands out. We've chosen to bear the additional liability because we believe it's the right thing to do for our clients and for the industry as a whole.

When you partner with DisclosedRx, you're not just getting a PBM—you're gaining an ally contractually bound to act in your best interests. For effective pharmacy benefits management, this level of commitment and accountability can make all the difference.

Learn more here - https://disclosedrx.com/