Save on Stop Loss with Novo Connection
We understand that plan sponsors are constantly seeking ways to save money on their prescription benefits. That’s why we’ve partnered with Berkley to offer a PBM Checkup program—a powerful tool that allows you to save up to 2% on your stop loss renewal.
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When you purchase a PBM Checkup through Novo Connection, you'll receive a comprehensive 12-page report designed to help you analyze, identify, and implement cost-saving solutions.
PBM Comparison
We compare your current PBM contract with other highly rated contenders in the market, highlighting areas for improvement and potential savings. From traditional to pass through transparent, to independent clinical net-cost, our platform compares them all.
Contractual Provisions Review
Our experts examine the fine print, identifying any provisions that could be costing the plan unnecessarily.
Contract Exclusions Analysis
Identify and address any exclusions in plan contracts that may be limiting your performance guarantees.
Contractual Pricing Review
We meticulously examine the contract and negotiate aggregate pricing to deliver the best possible rates and terms.
Plan Formulary Review
We review your plan’s Rx spend and make actionable suggestions to match you with the best formulary for cost-saving opportunities.
Cost Containment Solutions
Beyond Rx savings, our report offers tailored solutions for alternate sourcing and member engagement, to access lower cost prescriptions without sacrificing quality.
Why Choose Novo Connection?
By opting for our PBM Checkup program, you not only save 2% on your stop loss through Berkley, but are also empowered with the insights and tools needed to manage healthcare costs more effectively. Let Novo Connection be your partner in delivering enhanced value and savings.
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Best-in-class pharmacy benefit resources, clinical insights and savings through specialized Rx services that deliver the lowest possible pharmacy prices year after year.
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PBM Analysis Procurement
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Market Comparisons
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Pass-through Rebates
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Infusion Therapy & Injectables
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Pharmacy Data, Analytics, and Solution Implementation
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Trend & Clinical Management
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PBM Pharmacy Audits
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Expert Consulting
Get Started Today
Take the first step towards smarter cost management for prescriptions. Contact us today to learn more about our PBM Checkup program and start saving on your stop loss coverage.
Analytics, Insights, Recommendations,
& Engagement
Our proprietary platform provides insights and recommendations using groups' actual medical and Rx data to have the plan run more efficiently. Additionally, our in-house Service Team actively engages members through personalized proactive outreach, leveraging our proprietary data when it identifies potential solutions. These efforts result in a remarkable 400-500% increase in engagement with our point solutions.
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Our platform has integrated over two dozen A-rated stop-loss vendors, simplifying the process of comparing and shopping for the best quotes for your groups. You can expect precision underwriting at the best prices with our integrated data connections.
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Custom Program Building & Servicing
Our multi-vendor platform streamlines building self-funded plans, giving consultants more time and the flexibility to select from a pool of highly vetted vendors that seamlessly integrate with each other, to construct their program quickly.
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Pharmacy Benefit Consulting
& Lowest Net-Cost Rx
Our lowest Net-Cost formulary looks at overall drug prices and rebates and considers alternative options to drive down costs. The approved drug list on our Lowest Net-Cost formulary has more prescription drug options than a traditional formulary to allow for the greatest savings and the best clinical outcomes for patients.
Novo Connection's Offerings
Implementation
Our full-service Implementation Team takes the stress out of getting self-funded plans up and running. We’re known for ensuring a smooth and successful transition for groups moving from fully insured plans. Our Implementation Team takes care of everything from managing vendors & contracts, integrating program components including TPA, PBMs, and point solutions, as well as member communication and open enrollment meetings.
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Service Team
Paired with our Implementation Team, our Service Team steps in with ongoing support with your program. We can also dial up or dial down our service according to the needs and capabilities of your organization. They can handle everything from risk management, data analytics, quarterly reporting, financial analysis, and regulatory compliance.
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Underwriting
Novo Connection uses groups risk profiles to find a competitive stop-loss carrier to protect the employer group against higher-than-expected claims volume. Our underwriting services include risk assessment and placement, carrier negotiations, renewal modeling and projections, trend analysis, and COBRA and reserve analysis. Our comprehensive system is integrated with dozens of A-rated carriers and makes shopping and placing stop-loss a breeze for our advisor partners.
Get in Touch
For more information about our self-funded modeling and quoting program, fill out the form or call us at 866-750-6629.