Pharmacy Benefit Manager

The Newark Board of Education is seeking a Pharmacy Benefit Manager to provide pharmacy benefit management services, including processing and paying prescription drug claims, developing and maintaining a formulary, contracting with licensed pharmacies, and negotiating discounts and rebates with drug manufacturers. The selected vendor will provide comprehensive reporting, transparency, and data integration capabilities and will work in close coordination with the District's appointed brokers of record to ensure optimal performance, compliance, and value delivery. Key requirements include: providing a self-funded prescription proposal, implementing a step therapy program, and providing a dedicated customer service unit with real-time electronic access to eligibility, claims history, and prior authorization. The contract will be for a three-year term with the option to renew for two additional one-year terms. • The vendor must have experience in providing pharmacy benefit management services to large groups. • The vendor must have a strong reputation for customer service and must provide a dedicated customer service unit. • The vendor must be able to provide comprehensive reporting and data integration capabilities. • The vendor must be able to negotiate discounts and rebates with drug manufacturers. • The vendor must be able to implement a step therapy program. • The vendor must be able to provide a self-funded prescription proposal.