Presented by: Chad Schmidt
Sponsored by: Conner Insurance and MaxCare Prescription Benefit Services
Wednesday, July 20th, 2016
Maggiano’s Little Italy
3550 E. 86th St, Indianapolis, IN 46240
Registration 8:00 – 8:30 a.m.
Seminar & Discussion 8:30 – 10:30 a.m.
Join Chad Schmidt for “Insights to your Pharmacy Benefit Manager: You Don’t Know What You Don’t Know,” the newest installment in the Conner Chat series. Enjoy a complimentary breakfast and listen to valuable insights on the relationship between companies and Pharmacy Benefit Managers, and learn how you can maximize the potential of these relationships.
Believe it or not, transparency can mean different things to different companies. Some of the largest PBMs in the country will not offer transparent pricing, some will only offer it if you have a certain number of employees.
Specialty pharmacy currently accounts for 20-30% of most employers’ annual drug spend. By 2018, most PBMs and industry experts predict that percentage will be closer to 50%.
Mail Order is commonly sold as a way for employers to save money, however, if the plan design is not set up correctly, the plan will lose money despite bigger than retail discounts.
About the Speaker:
Mr. Schmidt brings with him 18 years of PBM expertise. He holds a Bachelor of Arts degree in Political Science from Oklahoma State University in Stillwater, Oklahoma, and a Master’s in Business Administration from the WP Carey School of Business at Arizona State University. Mr. Schmidt was a past VP of Sales with Magellan Rx Management (formerly Partners Rx) after holding similar positions with both CVS PharmaCare and Advance PCS (both companies now under the CVS Caremark name). During his time working in pharmacy benefits, he served in various segments including employer sales, managed care, government health plans, and Taft-Hartley. He also worked in new business development for Aetna US Healthcare, and prior to his pharmacy benefit career, he served as a staff member for U.S. Senator Don Nickles, U.S. Representative Tom Coburn, MD, and Governor Frank Keating, making him an expert on the full scope of employee benefits.