ProAct, Inc. - 3x3x3 Challenge with Corey Prashaw
ProAct is the only employee owned Pharmacy Benefit Manager in the nation. We are a customer centric PBM with a massive focus on reducing spend through clinical programs and data. We serve as a partner to our clients instead of being another vendor.
Transcription:
What is ProAct?
Yeah, so ProAct is the nation's only 100% employee-owned pharmacy benefit manager. We were established in 1999, and are the leading branch of a larger organization, that does over two billion in top line revenue every year where pharmacy is really at the core of each of our businesses. That's gonna range from the retail pharmacy space where we got our start in 1903 and since have broken off into institutional pharmacy, infusion treatments, the mental health space and of course, us here at ProAct with our mail order and specialty pharmacies. So I should mention that we are a national PBM. And although we're headquartered in New York, we have sales people strategically located in New York, Florida, Mississippi, and Illinois, to deliver on that ProAct promise that we give to each of our clients in virtually every state and territory.
How is ProAct different?
Yeah, so we could certainly say that it's our customer service, account management or pricing. And although we believe that we're truly great in all of those areas and then some, being the only employee on PBM is not something that we take lightly. So that means two things for our business partners, being employee owned means that our employees answer to each other and not Wall Street. Secondly, it gives our clients great relief to know that we can't be bought or sold. So today we see somewhere around a 100 PBMs in the market, with the largest three owning somewhere around 90% of that market share. That leaves a lot of small to midsize companies like us, left fighting for business typically with each other, and knowing we aren't in business just to be acquired by a larger PBM, saves our clients a tremendous amount of heartache when they're looking for a flexible PBM that checks all their boxes, that can also serve as a long term partner.
Who is a good fit for ProAct?
Yeah, our clients are self-funded employers that range from five people on their health plan to 25,000 people on their health plan, that would otherwise feel underserved by a larger PBM. So it's also important to note that our clients are our clients, and since 1999, we've grown our business 100% organically, and see no reason to change how we grow as we build out our customers for life.
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Transcription:
What is ProAct?
Yeah, so ProAct is the nation's only 100% employee-owned pharmacy benefit manager. We were established in 1999, and are the leading branch of a larger organization, that does over two billion in top line revenue every year where pharmacy is really at the core of each of our businesses. That's gonna range from the retail pharmacy space where we got our start in 1903 and since have broken off into institutional pharmacy, infusion treatments, the mental health space and of course, us here at ProAct with our mail order and specialty pharmacies. So I should mention that we are a national PBM. And although we're headquartered in New York, we have sales people strategically located in New York, Florida, Mississippi, and Illinois, to deliver on that ProAct promise that we give to each of our clients in virtually every state and territory.
How is ProAct different?
Yeah, so we could certainly say that it's our customer service, account management or pricing. And although we believe that we're truly great in all of those areas and then some, being the only employee on PBM is not something that we take lightly. So that means two things for our business partners, being employee owned means that our employees answer to each other and not Wall Street. Secondly, it gives our clients great relief to know that we can't be bought or sold. So today we see somewhere around a 100 PBMs in the market, with the largest three owning somewhere around 90% of that market share. That leaves a lot of small to midsize companies like us, left fighting for business typically with each other, and knowing we aren't in business just to be acquired by a larger PBM, saves our clients a tremendous amount of heartache when they're looking for a flexible PBM that checks all their boxes, that can also serve as a long term partner.
Who is a good fit for ProAct?
Yeah, our clients are self-funded employers that range from five people on their health plan to 25,000 people on their health plan, that would otherwise feel underserved by a larger PBM. So it's also important to note that our clients are our clients, and since 1999, we've grown our business 100% organically, and see no reason to change how we grow as we build out our customers for life.
Click this link to subscribe to the BenefitsAlly Substack for FREE!
https://benefitsally.substack.com/