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Express Scripts SWOT and PESTLE Analysis

ID : 52439953| Aug 2018| 15 pages

COMPANY PROFILE -Express Scripts

Business Sector :Healthcare Services

Operating Geography :United States, Canada and Europe

About Express Scripts :

ExpressScripts Inc. a subsidiary of Express Scripts Holding Company which was founded in the year 1986 and has its headquarters in St. Louis, Missouri, U.S.A. The company features on the Fortune U.S. 500 list every year and is placed on rank #25 in 2018. It is one of the World’s most admired Healthcare services company and is primarily engaged in providing integrated Pharmacy Benefit Management (PBM) services & Other Business Operations with its arms spread across United States, Canada & Europe. They primarily manage the medicines a doctor prescribes, so that the patient’s get affordable medicine, quickly and conveniently. The PBM segment offers specialized pharmacy care, specialty benefit management, benefit-design consultation, drug utilization review, formulary management and medical and drug data analysis services. The Other Business segment offers a full range of bio-pharmaceutical products & supplies, consulting services & extensive cost management services.
Express Scripts USP or Unique selling proposition lies in being the largest independent manager of pharmacy benefits in the United States and one of the nation’s largest pharmacies.Express Scripts Mission Statement reads "Express Scripts is a company dedicated to making the use of prescription drugs safer and more affordable for plan sponsors and over 50 million members and their families."

Express Scripts Revenue :


$100.065 billion - FY ending 31st December 2017 (y-o-y growth approximately 0%)
$100.287 billion - FY ending 31st December 2016

Competitive Analysis of Express Scripts

SWOT
PESTLE
The SWOT Analysis for Express Scripts is presented below:
Strengths
Weaknesses
1. A broad spectrum of product offerings
2. Features amongst the leaders on America’s Fortune 500 companies
3. Persistent focus on new product development and innovation
4. More patient-centric approach
5. Consistently strong financial results
1. Major chunk of revenues from few top clients
2. Fierce competition in healthcare services sector

Opportunities
Threats
1. Tapping potential new markets
2. Diversifying customer base
3. Mergers with Cigna Corp. might result into greater profits
1. Inflation in prices for healthcare services
2. Amazon.com entering into healthcare business by joining hands with JP Morgan & Berkshire Hathaway
3. Changes in consumer buying preferences
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Express Scripts

Strength

1. A broad spectrum of product offerings: Express Scripts Holding Inc. provides its vast portfolio of products & services under two broad segments - Pharmacy Benefit Management (PBM) and Other Business Operations where PBM services provided by Express Scripts include retail network pharmacy management in the domestic market and Canada, retail drug card programs, home delivery services, benefit design consultation, drug utilization review, drug formulary management programs, compliance and therapy management programs, Medicare Part D and Medicaid products, distribution of injectable drugs to patient homes and physician offices, fertility services to providers and patients, bio-pharma services including reimbursement and customized logistics solutions, improved health outcomes through personalized medicine and application of pharmacogenomics. The Other Business Operations segment primarily consists of the distribution of pharmaceuticals and medical supplies to providers and clinics in order to guide the safe, effective and affordable use of medicines.

2. Features amongst the leaders on America’s Fortune 500 companies: Express Scripts is the only truly independent PBM and also happens to be the largest in the US healthcare services market. The company has once again made its position in list of America’s Fortune 500 companies at the 25th position in 2018and is moving upwards constantly. Its net revenues increased by a huge margin of over 33% year-on-year to an amount of $4.51 billion for fiscal year 2017. The reason for this huge jump has been the fact that the company majorly benefitted from a surplus in the demand for insurances by American citizens under the Affordable Care Act. As of 2018, Express Scripts is the 25th largest organization in North America and the biggest PBMO in the United States.

3. Persistent focus on new product development and innovation: Express Scripts is committed to simplifying and improving the pharmacy experience for more than 85 million patients as of 2018. In order to cater to this enormous customer base the organisation is determined to come up with better & innovative pilot programs. Express Script’s Therapeutic Resource Centres also help in creating smarter & targeted healthcare solutions. The Express Scripts Inc. Pharmacy Lab for the purpose of R&D is divided into 3 broad teams namely- i. Specialized Care ii. Decision Design iii. Research & Analytics. Its new innovative pilot program for performance-based retail pharmacy network gives its members greater savings, service and safety and also the new innovative value-based SafeGuardRx Program delivers better care at lower cost for its patients and plan sponsors.

4. Patient-centric approach: The reason why Express Scripts Inc. enjoys a tremendous level of brand loyalty from their customers is because of the reason that all their decisions, strategies & models are directed absolutely as per the needs of the patients. For patients who are unable to afford the high drug costs, Express Scripts has launched Inside Rx to help them along with those who are uninsured and underinsured, with special discount programs. The company has also launched a special program Accredo, for those who suffer from complex diseases such as cancer, HIV, mental illness and other conditions that require special focus and care.

5. Consistently strong financial results: The Company’s leadership in the PBM sector has always proved fruitful for the year- end financial results. Every year Express Scripts Inc. has recognised growth in their net incomes and sales volume. The 2017 GAAP earnings per diluted share grew 44%, driven by an 8% increase in Operating Income & a growth of 11% in the adjusted earnings per diluted share in the year 2017 over the earnings of year 2016. The organisation also looks forward to investing $600 million to $650 million to improve their overall patient, client, physician & employee experience.

Weakness

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Opportunity

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Threat

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Copyrights and Disclaimer
Express Scripts SWOT and PESTLE analysis has been conducted by Saundarya Verma and reviewed by senior analysts from Barakaat Consulting.

Copyright of Express Scripts SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Express Scripts SWOT and PESTLE Analysis
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