The New Mexico Health Care Authority has announced a request for proposals (RFPs) to find new pharmaceutical benefits management services aimed at reducing prescription drug costs for over 168,000 public employees and their families across the state. Proposals are due by November 3.
Alex Castillo Smith, Deputy Cabinet Secretary of the Health Care Authority, said, "By joining with our IBAC partners, the State of New Mexico is leveraging its purchasing power to deliver pharmacy benefits that are transparent, affordable, and member-centered." He emphasized the state's commitment to negotiating from a strong position to reduce costs and enhance service while supporting local pharmacies.
This initiative is part of ongoing reforms by the Health Care Authority to ensure members receive quality and affordable healthcare. The selected vendors will be required to enhance member experience, provide measurable health outcomes, and maintain extensive provider networks.
The RFP seeks proposals that focus on adopting a transparent drug purchasing model prioritizing affordability and member needs. It also calls for implementing value-based cost-sharing programs for effective drugs and supporting community pharmacies. Additionally, it aims to use state purchasing power to secure optimal pricing for both the state and its members while enhancing customer service standards.
Interested vendors can access the official RFP documents on the New Mexico Public Schools Insurance Authority website or through ProposalTech's website. The deadline for submissions is November 3.
Information from this article can be found here.
