PBM Acquisition Allows Diplomat Pharmacy Inc. to Expand Patient-Centric Offerings
Author: Laurie Toich, Assistant Editor
Recently, Diplomat acquired Pharmaceutical Technologies, a pharmacy benefit manager (PBM) that does business as National Pharmaceutical Services (NPS).
NPS has a proprietary claims-processing platform and also offers mail-ordered services. The PBM was created by pharmacists to address several issues in the health care industry, including spending.
Joel Saban, president of Diplomat, told Specialty Pharmacy Times that NPS offers the capabilities and economics of a big-box provider, the services and flexibility of a small provider, and the mentality of a partner, all of which are valuable in today’s health care landscape. This acquisition will provide Diplomat with numerous resources and synergies that can better tackle health care inefficiency and costs, he said.
SPT: What services does NPS add to Diplomat’s current offerings?
Saban: NPS bolsters Diplomat's services for payers and will help us meet growing industry demand for PBM-like services. This partnership increases Diplomat's ability to offer complete solutions for major pharmacy benefit programs—including cost justification, containment, and health care reporting. It increases our in-network contracting opportunities and expands our national sales team and locations.
Synergy from this acquisition will drive our diverse growth for Diplomat in clinical expertise, relationships with pharmaceutical manufacturers and providers, and specialty pharmacy management services.
SPT: What are the long-term goals associated with the acquisition?
Saban: NPS represents an important step forward for our payer strategy. Through pharmacy benefit management, Diplomat can work closer with payers and serve more patients than ever before.
And together, we are stronger. Adding NPS to the Diplomat family creates a remarkable opportunity for us to serve members in new ways. All that said, as we continue to innovate and broaden as a health care company, our patient-centric vision of care remains unchanged. We remain committed to the clients we serve.
SPT: How can the NPS acquisition enhance the services Diplomat offers to its patients?
Saban: Diplomat and NPS believe in providing exceptional care for our patients and partners in health care. Together, we will continue to expand our services across the country to bring this patient-centric care to those who need it most.
NPS' proprietary claims-processing platform aligns with Diplomat's patient care and specialty management programs. The synergy between these technologies should help plan sponsors manage specialty patients in a cost-effective and clinically appropriate way. With NPS, we continue to support plan sponsors as they build programs to address the varying needs of their members.
SPT: How can the acquisition of NPS benefit patients?
Saban: We've strategically diversified our business based on our partners’ needs—ultimately to benefit the patients we all serve. We are excited to continue developing unique solutions that deliver on client needs and create an impact on health care outcomes and cost.
SPT: Does this acquisition have the potential to lower drug costs?
Saban: Like Diplomat, NPS is passionate about improving member quality of life by offering flexible, affordable solutions and personalized service to its pharmacy benefit partners. As an agile partner with its own claims-processing system, NPS builds end-to-end solutions to control prescription drug spend.
SPT: Any closing remarks?
Saban: Our market continues to change and mature, and it has changed a lot over the past several years. The combined resources of NPS and Diplomat makes us much stronger than each company would be alone.
Our combined resources will create real opportunities for growth—for our company and our employees. It will also offer more opportunities to provide better and broader service to our customers. The transition will allow us to establish a more cohesive national identity synonymous with innovative, high-touch patient care. We look forward to what the future holds as NPS’ teammate and as part of the patient’s health care team.