Are you sick of the word “clawbacks” being part of your vocabulary? Tired of not knowing how your bottom line will be impacted each month due to them? Or just plain want more clarity in how you navigate the financial obstacles and opportunities of your day-to-day business? You’re not alone.
For some, clawbacks have become a dilemma within the complex world of rebate and formulary management. It’s something clients see as an inescapable part of business—whether they like it or not. (Spoiler alert: They don’t like it.)
But as the largest independent provider of rebates and formulary management services, we can tell you, clawbacks are not an inevitability. In fact, we tell clients, the word “clawback” is often a red flag to begin questioning if you’re working with the wrong partner.
That’s because clawbacks by their very nature are due to ineffective business practices.
At Gateway, we believe these include:
- Lack of transparent rebate pricing from the get-go
You should never have to wonder about the pricing structure of your rebates—or whether or not ongoing optimization is occurring to improve your pricing position.
- Limited formulary options
Logical, right? If you don’t have multiple formulary options available to you, how can you guarantee you’re receiving the maximum rebate yields.
- Confusing data or reporting
We’re living in the modern world. If you have a partner who is delivering recommendations without the data to back it up, or providing dense spreadsheets for you to translate into basic insights, you’ve got a problem.
Many in our industry would look at these basic tenets and think, “Yeah, they’re great in theory. But that’s not how formulary and rebate management work when put into real-world practice.” To that, again, we would say, “Not true.”
How can we be so confident? Because at Gateway, we do the opposite of the list above. From Day 1, our relationships are built on absolute transparency. We work with multiple formularies. And we take data and reporting and make it meaningful and additive to the strategic direction of our clients.
Gateway has never initiated a client clawback… ever.
Each day, our model works to ensure the correct payment at the time of claims collection, eliminating the need for clawbacks. We know, across our industry, the process of clawbacks is rampant due to aggressive pricing and a lack of transparency. You deserve better for your members, your business, and your bottom line.