Our Take on PBMs
Our team is currently focusing on creating prototypes of our solution. The core functionality that we decided on involves an interface for each of the main stakeholders that we are dealing with: Insurers and the Pharmaceuticals. Let me give you the gist of our product.
On this platform, the insurer provides some information about the groups of populations that they cover, then makes a formulary plan which involves a list of drugs and the maximum price that their customers are willing to provide for the purchase of each of these drugs. Once several of these insurers provide their formularies, our platform finds intersections in their drug and price informations.
Here is an example of how it might look like. 3 different insurers, called A, B, and C, want different quantities of drug X at different price ranges:
Torque pools Insurers A, B, and C together since $150 lies in the intersection of all of them: This results in suppliers getting a bid for (1000 + 250 + 500) = 1750 units of drug X at $150 per unit. This benefits suppliers by aggregating orders together easily, and benefits insurers since large orders yield better deals.
If you would like to play around with our low fidelity prototypes, here are the links:
We would appreciate any and all feedback! Please email us to let us know about your thoughts!
