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December 15, 2023

Marsh McLennan Agency’s Northeast and New England regions launch Pharmacy Consulting practice

Marsh McLennan Agency’s (MMA) Northeast and New England regions announce a joint new Pharmacy Consulting practice within their Employee Health & Benefits business sector. Building on the success of MMA’s Rx Solutions Pharmacy Center of Excellence, this launch delivers on client demand for Pharmacy Consulting as a dedicated practice within the regions.

The practice will consist of experienced pharmacy consultants working directly with self-funded clients to better manage their pharmacy costs, supported by the expertise and resources of the MMA Rx Solutions Pharmacy Center of Excellence. Services of the practice include benchmarking of pharmacy costs compared to best practices, pharmacy benefit management (PBM) contract review, PBM procurement, and analytics to assess and implement savings opportunities from a plan design, clinical, and point solution management perspective.

Francis X. Costello, Executive Vice President of MMA’s Northeast region and a leader in the pharmacy consulting field, will lead the initiative. Costello also serves on the MMA Rx Solutions’ Advisory Board.

“Pharmacy costs, including new-to-market drugs costing hundreds of thousands of dollars, are dramatically driving total healthcare spend and only deliberate, focused strategies based on deep knowledge and analytics can stem the tide,” said Costello. “As the legislative environment seeks to reduce the federal government’s financial exposure under Medicare, drug manufacturers, wholesalers, and PBMs will naturally shift costs to the commercial market. Our Pharmacy Consulting practice will leverage the power of our proprietary MMA Rx Solutions’ approach, along with its deep bench of clinical and data analysts, to help drive savings for clients that focus solely on Pharmacy Services.”

Karen Springstead, Vice President of MMA Rx Solutions, added: “We are excited about our expanded partnership with the Northeast and New England regions and look forward to working with their dedicated pharmacy practice to help clients manage pharmacy risk and spend more effectively.”

The MMA Pharmacy Consulting Practice in the Northeast and New England regions is actively seeking like-minded talent to join our team. For additional information on how to join us, please visit our career opportunities.

Learn more about Marsh McLennan Agency's MMA Rx Solutions.