Driving New Revenue Streams for a Pharmacy Benefits Management Company

challenge

New Applications Needed for Revenue Growth

Operating in a very competitive landscape, with many of their competitors still offering out-of-date legacy software, our client, a pharmacy benefits management company, saw an opportunity to innovate and become a market disruptor. They wanted to create a set of products targeted toward state health agencies that would create new revenue streams and help them gain market share. As this was their first venture into creating Cloud-based commercial software products, they needed a partner with a strong product mindset, so they reached out to Sparq to make it happen.

solution

Two Modern, Cloud-Based Products

Our team got to work creating two new products and laying the foundation for this client’s long-term success in product development. We set the technical direction by moving them to the Cloud and putting quality processes in place that previously didn’t exist. The first product we created was a prescriber portal that was geared towards physicians and enabled them to do many things, including pulling up a patient’s prescription history, obtaining prior authorizations and ensuring that conflicting medicines weren’t prescribed. It also pulled statewide information, giving the provider more comprehensive visibility into their patients’ backgrounds. The second application was a prescription drug rebate portal where health agencies could easily receive manufacturer rebates, improving on their current experience which was complex and cumbersome. They often weren’t taking full advantage of the rebates available to them.

results

New Revenue Streams and a Foundation for Growth

We created two applications that will help our client achieve their goals of becoming a true market leader in this space. These products will save their future customers time, money and help provide better patient care. Through our thought leadership and solution-focused approach, we helped this client gain productivity and enhance their quality standards. These applications are expected to go live in early 2024.

Sparq was forcing us into the 21^st century, pushing IT to act on issues, pushing us as an organization way ahead of where it was and implementing quality standards/frameworks to be used throughout our company.

— Senior Director, Pharmacy Benefits Management Company

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Driving New Revenue Streams for a Pharmacy Benefits Management Company

New Applications Needed for Revenue Growth

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