Prime Advantage Blog

How GPOs Can Help Companies Save on Prescription Drug Prices

Posted by Mike McDonald on Jan 10, 2018 9:23:39 AM

It’s no secret that medication prices are a huge expense in a company’s overall healthcare plan offering. But what may be a secret is that one of the major reasons for these escalating costs are Pharmacy Benefit Managers (PBMs). PBMs are companies that are employed as intermediaries between health plans, manufacturers, and pharmacies.  Often with little to no medical training, PBMs determine what drugs are available within a given plan and which patients have access. In return they receive reimbursement, administrative fees, and rebates for their services from the parties involved. These added costs are often absorbed by the end-using patients, driving up the price of medications.

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Topics: Healthcare

7 Habits of Great Leaders

Posted by Guest Contributor on Dec 22, 2017 12:10:16 PM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, journalist Brandon Stanley shares insights on what it takes to be an exceptional leader.

Companies are always looking for leaders which are highly effective in inspiring their employees to give their best. Of course, not all of us were born leaders, but any of us can learn how to become one. To be a great leader, you need to inspire and motivate your team. How? By leading by example.

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Topics: Talent and Leadership

How to Choose the Best ERP System for Your Business

Posted by Guest Contributor on Dec 14, 2017 8:04:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, consultant Emily Roberts explains what companies should consider when seeking to best manage processes and data across an organization.

ERP or enterprise resource planning is an important part of a modern business. It helps to connect a variety of business practices, including accounting, project management, and manufacturing by putting them in one system.

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Topics: Analytics and Technology

7 Safety Features Every Modern Workplace Should Have

Posted by Guest Contributor on Dec 12, 2017 8:21:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, John Stuart of Creare Marketing discusses how to maintain workplace safety in the modern business world.  

Whether we’re talking about a small business that’s just starting up or a larger firm with dozens of employees, office safety is essential in any workplace. Hazards and risks are rare but not unavoidable. As a result, it’s the employer’s responsibility to create a safe and secure place for employees. The office does not only accommodate employees, it also houses valuable contracts, sensitive agreements and expensive equipment. All of this has to be kept safe around the clock. To come to your help, we’ve compiled a list of the most important safety features a modern workplace should have.

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Topics: Sustainability and Sustainable Business Practices

Building a Business Where the Best Ideas Win

Posted by Alison Chebuhar on Dec 8, 2017 8:22:20 AM

“Rather than thinking you’re right, ask yourself, how do you know you’re right?” These are the sentiments of Ray Dalio, founder of Bridgewater Associates, the largest hedge fund in the world, during his recent TED Talk on enhancing decision making. Dalio believes that one of the greatest tragedies of mankind is that people arrogantly and naively hold onto opinions that are incorrect, and act on those views without any verification process. His tactics may be too radical for some, but the principles his company is applying every day to create an idea meritocracy could help any business or individual reach better outcomes. The approach is based on truthfulness and transparency. Find the smartest people who may disagree with you and do your best to fully understand their perspectives. The ability to see things collectively above one’s self leads to much more effective decision making. Rather than arguing over opinions, shift the conversation to figuring out objective criteria for determining which opinions are the best. Then embrace the mistakes and collect what you’ve learned to create your ultimate code for making decisions.

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Topics: Talent and Leadership

8 Cybersecurity Tips for Your Business

Posted by Guest Contributor on Dec 6, 2017 8:18:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Digital Strategist, Danish Wadhwa, discusses how you can keep your company cyber-safe and secure.

A survey by Nationwide informs that about eight in 10 small business owners do not have a plan to respond to the cyber-attack, even though most of them (63%) have previously suffered from at least one type of cyber-attack.

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Topics: Industry News, Analytics and Technology

Are You a Negotiation Leader?

Posted by Dan Grant on Dec 1, 2017 1:15:17 PM

At the recent Prime Advantage Fall Conference, negotiation expert, Julie Kowalski of Spizzerinctum Group, held a professional development session that presented the tools for becoming a great negotiator. She outlined the factors affecting successful negotiations, shifts in strategies, vocabulary to use, debunked assumptions, and a bundle of top techniques. Here are some of the tactics that were discussed that you can employ today to become a leader in your negotiations:

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Topics: Talent and Leadership

How Great Leaders Make Employees Feel Valued

Posted by Guest Contributor on Nov 21, 2017 8:47:00 AM

Prime Advantage has invited industry experts to share insights on achieving manufacturing and business success. In this post, Tiffany Rowe of Seek Visibility discusses how to keep employees fully engaged and feeling appreciated.

As a leader, you want to make sure your employees feel valued and appreciated for their unique contributions to the team. That’s because employees who don’t feel appreciated in their positions are employees who aren’t giving their work 100%. They might even be

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Topics: Talent and Leadership

How to Achieve Impressive Healthcare Savings with Prime Advantage

Posted by Mike McDonald on Nov 10, 2017 7:59:32 AM

We’ll get right to the point: the Prime Advantage Healthcare Program is a unique—and exclusive—program that’s designed to lower the benefit costs for Prime Advantage Members and Suppliers, as well as reduce benefit administration time and improve employee health, productivity and retention.

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Topics: Healthcare

Transform Your Organization by Putting People First

Posted by Dan Grant on Oct 25, 2017 11:50:00 AM

We’re in the era of “always-on transformation,” says organizational change expert, Jim Hemerling, during his TED Talk on tactics businesses can use to successfully implement change. The rate of globalization and technological advancements require organizations to be nimble to adapt to an ever-shifting landscape. Change can be difficult, exhausting, and we typically resist it when it’s imposed on us. But if leaders are more proactive in their execution, they won’t leave employees in crisis mode. Decision-makers need to resist the comfort of focusing on short-term results so as not to mortgage the company’s future. So how can this be accomplished seamlessly?

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Topics: Talent and Leadership

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