TWST: What are the services SXC Health Solutions offers to clients?
Mr. Thierer: As you may recall, we started in this business as a technology company and initially set out to be the claims-processing or adjudication platform for a large majority of the PBMs that operate in the open market, both freestanding PBMs and PBMs embedded inside health plans. That's the genesis of the company.
From that starting point, we've built out now a full suite of what I call full-service PBM offerings. So today, our product line begins at the most basic level with tools to allow certain clients to run their own PBM operations. Those tools are primarily software products like RxCLAIM, our claims-adjudication platform and all the satellite products that someone might need, the picks and shovels to help them own and operate their own PBM operation, and all they're using there are the technology tools.
Now, as clients move up the scale of complexity, they add services to those tools. Those services include full pharmacy benefit management services like mail order, specialty pharmacy or biotech injectable management, clinical products and services. This is really under the broad header of cost-containment tools that clients can buy on a menu basis. At the highest level, we can provide a full turnkey set of products and services for an employer, including full plan design consultation, a full implementation and a full set of services, all wrapped around mail order, specialty pharmacy and cost-containment PBM offerings. That's what the product line looks like, and it's one of the things I think that sets us apart. It is the broadest product line in the industry because we're one of the only players who can break it down and sell you the most basic elements, the picks and shovels. We're the only guys who can do that.
TWST: Are you finding that clients are moving toward either the whole system or the individual pieces, or are they interested in both of those?
