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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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Abarcahealth

Jan 27, 2012

AjamuKitwana

Kristine Cass

Robin Bose

EnhancingGrowthOpportunities

www.abarcahealth.com


Agenda

Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Agenda1

Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Abarcahealth

  • 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

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

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 ?


Abarcahealth

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


Agenda2

Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Abarcahealth

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


Abarcahealth

Immediate Focus: Suggested Growth Priorities

Customer engagement

Decision support

Team linkages

1

2

3


Abarcahealth

Customer Engagement

1

2

3

How customers feel about their relationship with abarca

How customers feel about relationship with other PBMs


Abarcahealth

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.


Abarcahealth

Decision Support

1

2

3

How abarca can help them to make decisions

How customers view tools and data available for decisions


Abarcahealth

Team Linkages

1

2

3

abarca two years from now

abarca two years ago


Agenda3

Agenda

Project Overview and Approach

Findings & Recommendations

Competitive Advantages in Puerto Rico Context


Puerto rico competitive advantages that support abarca strategic opportunities

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

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

Questions & Discussion


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