Third Party Solutions’ new strategy

TPS, the last third party biller standing, has wasted no time. Just hours (well, perhaps a couple days) after their acquisition of rival WorkingRx was announced, TPS launched their new strategy. They are positioning themselves as a vertically-integrated pharmacy solution integrating first fill capture with a full-service PBM.

Sources indicate TPS is promoting DirectCompRx (DCRx), their sister company as the PBM. The pitch revolves around TPS capturing all first fills, and directing those scripts to DCRx, where DUR and other PBM functions will reside.
That’s the pitch.
Before payers jump at the opportunity to sign up, and PBMs jump out the window in fear, a bit of real-world perspective.
This ‘new’ business model is no different from the ‘old’ TPS – DCRx model, with the addition of WorkingRx. By all accounts, DCRx had little success penetrating the WC payer community. And from personal experience, I can attest that the “we’ll capture first fills and switch them over to the DCRx PBM” model only works some of the time.
Businesses evolve and improve and get better, and it is indeed possible that the new TPS model will deliver at least in part on the promise. In order to do that, they’ll have to climb out of the hole they’ve dug themselves in the payer community. TPS and WorkingRx have managed to infuriate most of the payer community with their heavy-handed, litigious approach to collections. Both predecessor companies made a practice of harassing adjusters, suing payers, and generally antagonizing the very prospects they are now going to try to turn into customers.
There are two versions of the Golden Rule – ‘do unto others’, and ‘he who has the gold rules’.
TPS has violated both.
What does this mean for you?
Proceed with caution.