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Mr. Kharabanda has
an extensive background in actuarial, pharmaceutical, marketing
and vendor management functions. His creative and innovative
ideas have produced incredible savings over the last 25
years.
He has been a member
of the Society of Actuaries and the Academy of Actuaries
since 1988. He has designed, priced, and monitored claims
experience of indemnity, PPO and stop-loss plans for both
individual and group health insurance carriers. He has worked
with insurers, reinsurers, employers, TPAs, associations
and consultants on medical, dental and Rx plans since 1985.
In addition, his negotiations with state insurance departments
were consistently recognized.
Mr. Kharabanda received
his MS in pharmaceutics from the University of Connecticut.
He has worked with PBMs, retail pharmacies, and pharmaceutical
companies. He has also taught college level pharmacy and
mathematics courses.
Mr. Kharabanda has
communicated frequently with the local and regional field
offices since 1985. Sales people often directed their questions
on actuarial, financial, provider, and vendor issues to
him. He also marketed life, health, auto and property insurance
products from his own insurance agency.
Combining his actuarial,
pharmaceutical and marketing experience in 1998, Mr. Kharabanda
saved millions by restructuring the financial terms of a
PBM contract in the middle of the contract period. Supported
by very detailed actuarial analysis, he has meticulously
evaluated and aggressively negotiated contracts with PBMs,
PPOs and several other vendors. Utilizing his analytical
skills, his auditing of vendors helped recover significant
amounts from them. His negotiations with senior executives,
marketing and financial officers of many vendors resulted
in over $50 million in annual savings. His reports on "How
to select a PPO network" and a white paper on PBM selection
were well appreciated.
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