Introducing the Cost-Saving “MABE Pharmacy Purchasing Collaborative”

jenbeltz

MABE Pharmacy Purchasing CollectiveJanuary 2022 marks the formal launch of the MABE Pharmacy Purchasing Collaborative, an innovative project between MABE and Keenan Pharmacy Services, recognized as an expert in pharmacy benefit management and improvement strategies. Geared toward ensuring high-cost medications are dispensed at the lowest net cost possible for counties and school systems throughout Maryland, the MABE Pharmacy Purchasing Collaborative can save Maryland counties and school systems an impressive 10% to 30% on their prescription drug program costs.

The Collaborative also is unique in that it includes full-service pharmacy benefits and consulting, as well as performance guarantees,” notes Milton E. Nagel, CPA, MABE Deputy Executive Director. “The MABE Pharmacy Purchasing Collaborative means fully disclosed pricing, active physician engagement, and clear communication about lower-priced alternatives,” he said. “Strengths like these are needed more than ever by counties and school systems that are understandably mindful of budget, while also eager to incorporate not only considerable savings but greater clarity and accountability in their prescription drug-related programs.”

The MABE Pharmacy Purchasing Collaborative is just one of the consumer-friendly coverage products and services MABE offers. Its Workers’ Compensation Fund provides statutorily required workers’ compensation coverage for all employees of the member school systems, should they suffer compensable work-related injuries; and its OPEB Pooled Investment Trust provides participating school systems a structure to invest funds while working together reduces investment costs and shares administrative expenses. Additionally, MABE’s Group Term Life provides group life insurance benefits, including Basic Life Insurance, Supplemental Life Insurance and Accidental Death and Dismemberment for employees of the participating school systems. Student Accident Coverage and Catastrophic Coverage also are components of MABE’s trusted insurance portfolio.

Particularly noteworthy is MABE’s Group Insurance Pool, which provides property, casualty and liability coverage in an effort to assist in protecting MABE member school systems from the many risks associated with running school systems. Founded in 1986, the Group Insurance Pool has attracted the membership and support of an impressive 19 of Maryland’s 24 school systems.

“One of MABE’s core values is creating and encouraging collaborative relationships,” Nagel added. “It’s with this in mind that we continue our dedicated efforts to provide school systems and counties throughout Maryland with best-in-class coverage options. Our new MABE Pharmacy Purchasing Collaborative provides a solid case in point. Through it, clients receive highly competitive discounts and rebates typically only available to health plans, with the reassurance that their physician is engaged, and the assurance that information on a variety of lower-priced options are on the table.”

For further information about the MABE Pharmacy Purchasing Collaborative, or information about any of MABE’s insurance products or services, contact Milton Nagel at Ph: 443.603.0385 or mnagel@mabe.org.

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