Boca Raton, FL (October 4, 2022) – Ringmaster® Technologies (RMT) a leading healthcare, software provider in the U.S. and its wholly owned subsidiary, Ringmaster® Rx announced today the launch of the first pharmacy consulting, platform to provide cloud-based tools and services for pharmacy experts who serve the self-funded community.
In working with TPA’s and Brokers representing self-funded employer groups, Ringmaster learned that clients often had difficulty interpreting and/or comparing PBM responses. Accessing AWP data and evaluating nuance contract terms such as: exclusion language, generic definitions, specialty definitions and limited distribution definitions proved to be outside the scope of what most TPA’s and Brokerage firm could handle. This created an opportunity for a technology platform to help align clients and PBMs.
The unique attributes of the Ringmaster Rx platform provide clients with a cloud-based data warehouse integrated with a RFP workflow process that solicits, compares and awards pharmacy benefit management (PBM) contracts and programs.
“This combination of automated workflows and data warehouse capabilities gives clients the ability to customize their own panel of preferred PBM’s, generate reports, create sophisticated analytics for their employer groups and perform contract reconciliations and audits on performance. All of which is virtually impossible with today’s manual processes and the lack of access to key data,” stated Jason Wenzke, President of Ringmaster Rx. “We believe that this new platform is a huge win for pharmacy benefit consultants, Brokers and Third-Party Administrators (TPA’s) who will use the platform to take advantage of meaningful PBM sourcing solutions, analyze the performance of those contracts and ultimately manage cost for their employer groups by stepping into the ring and utilizing the system.”
“We created Ringmaster Technologies and its subsidiary, Ringmaster Rx, because I believed we could deliver technology to self-funded experts that would improve their operations significantly and those improvements would lead to smarter investments and better health outcomes. Our great success in creating the world’s only stop-loss marketplace and automation technology has shown us that the challenges in self-funded pharmacy offerings were also solvable on our technology platform and we are excited to deliver this state-of-the-art capability to our partners,” said Todd Roberti, Founder and CEO of Ringmaster Technologies.
About Ringmaster Technologies®, Inc.
Ringmaster is a cloud-based healthcare software provider created to simplify and enhance administrative processes by utilizing cutting edge technologies. Ringmaster offers the first fully automated workflow optimization solution that will drastically reduce processing time and complexity while minimizing the turnaround time for Stop-Loss quoting, contracting, and policy administration. Additionally, Ringmaster offers an end-to-end cloud-based operating system for pharmacy consulting.
Ringmaster Technologies – Realize the Possibilities – Step into the Ring