A complete buyer's guide that provides comprehensive insights on Pharmacy Benefit Management Services category spend, spend growth and regional segmentation; in-depth price trends; negotiation levers and analysis of Pharmacy Benefit Management Services suppliers.
GET FREE SAMPLEThis report on global Pharmacy Benefit Management Services category is part of a larger series of reports on global HR Services market. The scope of HR Services spans multiple categories and is typically identified as a procurement category that includes all spend related to HR services delivery relating to staff of the organization spanning the entire employee lifecycle - from the hiring process to the retirement process.
The market for HR Services and its sub-segments such as Pharmacy Benefit Management Services are at an interesting intersection. Even though global population is increasing, the availability of adequately trained talent pool is reducing in many geographies. Lack of skilled in-house manpower continues to be the largest factor for hiring of Pharmacy Benefit Management Services. Companies are designing processes where the internal talent can work on the most value-adding activities and all non-core activities can be handed over to a third-party.People analytics has emerged as a rather new branch of HR function with an aim to gain deeper insights into an employee's behavior, motivators, risk of attrition and general wellbeing. There is a high demand for suppliers who can integrated technology in traditional processes to generate insights on the buyers' talent pool.With the influx of millennials in the workforce and increasing diversity at the workplace, companies are struggling to design pay and benefits processes that are uniformly relevant for the lifestyles of such diverse groups.Trends like these and many others discussed in this report are necessitating a relook at the way Pharmacy Benefit Management Services is procured and the procurement cost saving opportunities that exist.
As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Pharmacy Benefit Management Services category procurement. The report offers a succinct analysis of Pharmacy Benefit Management Services procurement best practices. For example, Buyers should promote competitive bidding scenarios and supplier competition to gain cost and value benefits. Bids should be invited from a substantial pool of service providers that can meet their requirements. Large organizations are opting to streamline and centralize their personnel-related administration functions at the global level to realize efficiencies and consistency in the employee benefits and related policies. Besides shortlisting potential suppliers based on services offered and cost, they also need to be evaluated against several other critical parameters. Some examples of these parameters are compliance with laws and regulations, capability to protect personally identifiable information and technical standards adopted (e.g. user interface, user exchange standards, data exchange standards). RFPs soliciting the above information ensures competition among suppliers and facilitates efficient evaluation.
Activate your free account to gain easy access to cutting edge research and insights on consumers, emerging price trends, global and regional suppliers.
Pharmacy Benefit Management Services procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Pharmacy Benefit Management Services procurement. Some examples include:
For detailed insights and complete access to our report library, activate your free account!
The report is intended to serve as a one-stop reference guide for Pharmacy Benefit Management Services procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Pharmacy Benefit Management Services: Procurement Report 101” as well as for category experts actively tracking the global Pharmacy Benefit Management Services procurement market.
You may have just initiated your research to design a winning Pharmacy Benefit Management Services procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
Unlock SpendEdge's comprehensive procurement report collection with ease through our procurement platform.
Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!
The Pharmacy Benefit Management Services procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:
SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!
The Pharmacy Benefit Management Services market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.
A key highlight of this report is the in-depth outlook created on Pharmacy Benefit Management Services procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Pharmacy Benefit Management Services. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Pharmacy Benefit Management Services market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.
Additionally, the report also advises on the best practices and strategies to manage the Pharmacy Benefit Management Services category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.
Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”
SpendEdge presents a detailed picture of Pharmacy Benefit Management Services procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
Global Outsourced Benefits Administration Market - Procurement Intelligence Report
Global Retirement Savings Plan Administration Market - Procurement Intelligence Report
Global Service Recognition Programs Market - Procurement Intelligence Report
Global Flexible Benefits Administration Market - Procurement Intelligence Report
Global Compensation Management Services Market - Procurement Intelligence Report
Global Shopping Vouchers Market - Procurement Intelligence Report
Global Compensation Or Benefits Planning Market - Procurement Intelligence Report
Global Hr Employee Benefits And Stock Plan Services Market - Procurement Intelligence Report
Global Group Income Protection Market - Procurement Intelligence Report
Access this report and our entire procurement platform | Plans starting from USD 3000/ Year Buy Now
Copyright © 2024 Infiniti Research Limited. All Rights Reserved. Privacy Notice – Terms of Use – Sales and Subscription
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. You may change your settings based on a legitimate interest at any time, by selecting “Manage Settings” on our site. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.