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Jan 27, 2012 Ajamu Kitwana Kristine Cass Robin Bose. Enhancing Growth Opportunities. www. abarcahealth .com. Agenda. Project Overview and Approach Findings & Recommendations Competitive Advantages in Puerto Rico Context. Agenda. Project Overview and Approach

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Jan 27, 2012

AjamuKitwana

Kristine Cass

Robin Bose

EnhancingGrowthOpportunities

www.abarcahealth.com


Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


  • Company Overview

Pharmacy benefit management (PBM) service provider to health plans, government agencies/programs, employers, unions, pharmaceutical manufacturers, and other clients.

  • Founded in 2005 as internal PBM for PICA, a Medicare Part D plan in Puerto Rico

  • Spun off from PICA in 2010

  • Successful in adding new customers and revenue sources, including administrative services for Mi Salud, one of PR’s largest health plans

    abarca transmits data between health plans and in-network pharmacies to help:

  • verify patient eligibility and co-payments

  • process and adjudicate drug claims

  • manage drug formulary lists

    Proprietary Technology:

    RxEngine: claims adjudication software

    RxPlatform: user interface for PBM/client

    Range of business intelligence and reporting capabilities

  • manage generic substitutions

  • provide information on drug utilization

  • manage manufacturer rebates

TM

TM


abarca has grown rapidly as the team has won new customer contracts

Organizational Growth

# Employees, 2010-2012

Company Highlights

47,000 covered lives

Pharmacy program administrator for MiSalud(1.4 million lives)

Customers

2009: 2 contracts (PICA, MiSalud)

2012: 6 contracts

59

34

25


Project Inquiry

Should abarca expand beyond PR to Latin America?

Market Readiness

Company Readiness

Are there opportunities for expansion in PBM services to:

How canabarcaprepare for growth opportunities, including international expansion?

  • Colombia ?

  • Costa Rica ?

  • Dominican Republic ?

  • Panama ?

  • Peru ?


Approach

Latin America

Country Research

Customer Interviews

Internal Interviews

  • State of Healthcare System

  • Healthcare Provision

  • Healthcare Financing

  • Pharmaceutical Market

  • Pharmaceutical Regulations

  • Health Indicators

  • Anticipated Changes

  • Business Environment

  • 3 of 6 existing customers:

  • ASES

  • First Plus

  • PICA

  • 1 potential customer

  • Management Team

  • Product:

  • Technology Group

  • Business Intelligence

  • Project Management

  • Pharmacy Network Management

  • PBM Operations

  • Business Development and Business Analytics

  • Account Management

  • Customer Service

Company Review

Company financials

New business pipeline

Core/ancillary services & technology offering


Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Team Recommendations

Key Findings

Recommended Growth Plan

  • Grow market share

  • Establish market leadership in Puerto Rico

  • Grow organization

  • Acquire customers outside PR, leveraging PR connections and knowledge of US regulation

  • Build global presence while maintaining PR market leadership

  • Selected Latin American markets lack favorable healthcare infrastructure

  • Company should consider cost of diverting resources away from local opportunities

Immediate Focus

Intermediate Focus

Long Term Focus


Immediate Focus: Suggested Growth Priorities

Customer engagement

Decision support

Team linkages

1

2

3


Customer Engagement

1

2

3

How customers feel about their relationship with abarca

How customers feel about relationship with other PBMs


Customer Engagement

1

2

3

How customers feel about their relationship with abarca

How customers feel about relationship with other PBMs

[A leading competitor] has its home office in the States…we have to go through so many layers to get something done.

  • Good access to top management, openness, candor, willingness to help

I like that they are local, not too big, and able to discuss what is important in Spanish.


Decision Support

1

2

3

How abarca can help them to make decisions

How customers view tools and data available for decisions


Team Linkages

1

2

3

abarca two years from now

abarca two years ago


Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Puerto Rico competitive advantages that support abarca strategic opportunities

Puerto Rico Advantages

abarca healthOpportunities

  • Apply US healthcare expertise to compete in niche US markets

  • Leverage connections with US based pharmacies and manufacturers

  • Build on presence and credibility in the US to access LatAm markets

Connection to US Market

Link to Latin America

  • Engage Latin America customers at all levels in Spanish

  • Draw on cultural ties with Latin America to help penetrate relationship-based Latin American markets

Healthcare/Pharma Industry Cluster

  • Hone strategy through local rivalries; continue to challenge US firms

  • abarca has built on technology and expertise developed through Borschow Medical Supply and PICA

Educated Talent Pool

  • Attract top PR talent educated in PR or elsewhere to stay/return

  • Leverage startup culture and sexy hi-tech and healthcare industries

  • Attract global talent that is attracted to US opportunities but appreciate Puerto Rican culture and climate


Lessons Drawn for Economic Development in Puerto Rico

Puerto Rico Advantages

Economic Development Opportunities

  • Newer industries such as those driven by government policies offer a chance to compete with US without being far behind

  • PR firms can use language and cultural connections to compete in Latino friendly communities in the US

Connection to US Market

Link to Latin America

  • Spanish capability at executive levels can be an advantage over US firms in professional services

  • US ties are also a hurdle to penetrating and understanding Latin American markets

Industry Cluster

  • Encourage local competition

  • Develop industries that build on existing infrastructure

  • As LatAm markets develop, bring US expertise with LatAm cultural awareness

Talent Pool

  • Showcase “hot” PR companies: hi-tech, healthcare, startups, etc.

  • Target US/PR top talent interested in LatAm development.

  • Reverse the brain drain: encourage PR students who studied in US to return to PR


Questions & Discussion


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