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National CooperativeRx stands as a trusted and knowledgeable choice for member groups’ pharmacy benefit needs. While successful in consistently welcoming new member groups, the true measure of our success lies in our ability to retain the trust and loyalty of each member group, both new and existing.
Member Retention
Member retention is the ability to maintain strong and lasting relationships with our members. Sustaining members’ trust is crucial to the Cooperative’s ongoing success, providing us with greater purchasing power and resources to expand our offerings as our membership grows.
While member retention rates across the pharmacy benefit management industry vary, National CooperativeRx’s member retention rate since inception is over 95%. Member retention relies heavily on member satisfaction but is not the sole reason for membership terminations. Reasons for terminations can often be beyond the control of our Cooperative. In fact, a majority of our termed member groups, since our inception, have termed due to reasons beyond our control, including closures of businesses, mergers and acquisitions, and transitioning to fully-insured benefits models. When we exclude member groups who termed due to reasons beyond our control, our member retention rate over our 20-year history is 97%.
70 member groups have been with National CooperativeRx for 10 or more years.
We consider member feedback invaluable and dedicate ourselves to addressing concerns and refining our services to ensure an exceptional experience for all involved. Therefore, we conduct an annual satisfaction survey with our members and partners. Satisfaction percentages have consistently remained in the mid-nineties across key differentiators of our Cooperative, such as our best-in-class pricing, prompt responsiveness, and industry expertise. Our net promoter score (NPS) has also been consistent over the years. According to the creators of the NPS metric, Bain & Company, a NPS above 0 is good, above 20 is great, and above 50 is amazing.¹ In 2023, the Cooperative scored a 59 from members and partners. The average NPS for PBMs has been reported to be below 20.
Commitment to Members
Our focus on the financial and health well-being of our membership significantly contributes to our high retention and satisfaction rates. Every decision we make is in the best interests of our members, from PBM contract negotiations to developing our in-house, no-additional-cost clinical programs. Members’ well-being and input hold significant weight in our decision-making process, directly impacting the services we offer.
We remain dedicated to being educators and advocates for member groups, navigating the complex pharmacy benefit industry and assisting them in making informed decisions. Whether members and partners are new or existing collaborators of National CooperativeRx, we are committed to proving our value and maintaining our reputation as a trusted pharmacy benefit provider. With 2025 being a new contract year, we look forward to strong membership renewals and continued growth. More to come on our new PBM contract!
