Fiduciary-Grade Rx Intelligence

Kincaid IQ

PE War Room: DRAP Reconstruction & PBM Forensics

Transform pharmacy claims into investment-grade intelligence. Quantify EBITDA leakage, expose spread pricing, reconstruct hidden rebates, and score contract compliance.

Demo Analysis

Run a full DRAP analysis on 500 demo claims with intentional spread patterns

Analysis Methodology

1. DRAP Calculation

Delta Realized vs Allowable Pricing = Σ(Paid - NADAC Benchmark)

2. Spread Detection

Identify systematic excess markup by pharmacy and NDC

3. Rebate Reconstruction

Estimate manufacturer rebates using class-level inference

4. Compliance Scoring

Test PBM performance against contractual guarantees

Fiduciary Perspective: All analysis defaults to plan sponsor best interest. Missing data is treated as a signal, not a limitation. Every finding is quantified in dollars and EBITDA impact.

What is DRAP?

Delta Realized vs Allowable Pricing = Total plan spend minus fiduciary-compliant benchmark price (NADAC + reasonable markup).

This is the EBITDA leakage caused by PBM spread pricing, hidden margins, and contract violations.

Why Fiduciary-Grade?

ERISA fiduciary duty requires plan sponsors to act in participants' best interest and monitor service provider costs.

This analysis reconstructs true net cost and flags contractual violations that create legal exposure.

Rebate Reconstruction

Manufacturer rebates are rarely fully disclosed. We use class-level inference to estimate hidden rebates.

Diabetes: 45%, Specialty: 25%, Brand: 35% (industry benchmarks).

Actionable Output

Every finding is quantified in recoverable dollars and EBITDA impact (basis points).

Immediate recovery opportunities, contract leverage points, and structural recommendations.