1. Contingency Fee-Based, Rx Audit and ERISA Plan Asset Recovery Service
HR Specialty Products & Services Catalogue Executive Summary
A No Frills Distillation of Vendor’s Marketing Collateral
Thomas A Ference
President & CEO
Human Resources Mining & Distribution Co
Locating, Validating and Accelerating HR  Innovation
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2. Contingent Fee Rx Audit & Plan Asset Recovery
All Rx audit services vendors focus on identifying anomalies and overpayments related to areas such as contract adherence on discount guarantees, mis- categorization of drugs, benchmark unit pricing, etc.
However, once the errors are identified, these vendors fail to recoup the funds / ERISA plan assets as required by law.
This service provider offers a free-upfront audit of the last 12 months’ worth of Rx claims in order to assess the potential opportunity.
Takes only two to three weeks to get results from first 12 months audit

3. Contingent Fee Rx Audit & Plan Asset Recovery
If the client desires, thereafter the vendor will audit the remaining open years and retain a percent of savings contingency fee.
Minimal HR staff time required if auditor provided with a PBM authorization letter allowing auditor to access the Rx claims file
 Conservatively, the program recovers between 2-4% of the total pharmacy spend conducted over a 2 to 3 year retrospective audit of 100% of paid pharmacy claims.
An optional PEPM-based on-going monitoring and pricing concession service typically produces between a 5% and 10% additional savings

4. Sample Savings Per 1000 Employees
Item
Number
Number of Employees
1000
Number of Total Plan Members
2400
Annual Rx Spend per Member
$1,000
Annual Rx Spend Total
$2,400,000 (2400 X $1,000)
Assumed Savings Rate +3% of Spend
$72,000 (one year)
Savings Over 3 Years
$216,000
Sales Equivalent at 10% Margin Rate
$2,160,000 ($216,000 / 10%)

5. Next Steps
This product/service is contained in the HR Specialty Products & Services Catalogue™
Operational level details about this particular service provider can be obtained in conference with the vendor
The HR Mining &Distribution Co. is an independent and contracted representative of the vendor
Upon your request, we will arrange for an introduction that can range from a simple, quick conference call to a services overview / system demo
Tom Ference (Chicagoland area) or
Thank you for your potential interest in this fresh thinking