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The Wood Sessions 3
Manage episode 342662048 series 2922251
المحتوى المقدم من David Carothers. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرةً بواسطة David Carothers أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck sit down with Clayton Wood, Managing Partner at C.B. Wood Financial. They discuss pharmacy benefits and how they work in the P&C world and why P&C agencies should have a conversation with their clients about benefits.
Episode Highlights:
- Clayton explains that the purpose of this series of episodes is to help P&C brokers and listeners understand that cross-selling may add an extra revenue stream to their business. (3:42)
- Clayton defines a pharmacy benefit manager in the industry. (4:22)
- Clayton discusses the importance of having a transparent pharmacy benefit manager. (7:30)
- Clayton mentions that some health care plans have a brilliant marketing strategy, but it is only to make employees pay more. (14:28)
- David explains to the listeners why service fees are valuable. (19:13)
- Clayton explains that in the P&C world, prescriptions are a problem for small businesses with 50 to 150 employees, and it will be one of their largest percentages of claims. (21:37)
- David believes that any P&C agency that does not even discuss benefits with its clients, whether they sell them or not, is allowing someone else to come in and have that conversation. (23:33)
Tweetable Quotes:
- “What we're doing here on this four-episode series or more, if we decide to do more is just to help the P&C brokers, the audience of this podcast, just understand, that there is a way to add an extra revenue stream to their business by cross-selling.” - Clayton Wood
- “Putting a pharmacy benefit manager that's transparent in is really important. Nowadays, there's a special term for them, they're called pass through PBM’s, which means they don't add any spread to the drugs, and they pass on 100% of the rebates.” - Clayton Wood
- “Any P&C agency out there right now, that is not even having a conversation with their clients about benefits, whether they sell them or not, is opening up an opportunity for somebody else to come in and have that conversation.” - David Carothers
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