In July, I was invited to give some thoughts for a meeting of the Louisiana Independent Pharmacy Association. I would like to share those thoughts here.
A significant differentiator of the prescription drug supply chain is the stakes involved -- we're talking about Americans' health. PBM behavior can directly cause death (not so with Tyson, Amazon, Apple).
Another difference is that the person receiving the goods (the patient receiving the medications) is often not the same entity paying for the goods. The payor is often an employer or taxpayers, for Medicare, or Medicaid.
Thank you for your helping to educate the public on this topic!
Very informative and well written. Years ago I was sued by one of the major PBM's on a project for a national union group doing an analysis of their contractual agreement( or lack of). These public entities thrive on the fact that corporate America is not willing to think out of the box to bring costs down. They have the marketing power. They also have the major/national employee benefit consulting firms working on their behalf.
Very good column Benjamin. I have been aware of the corporate problems in the farming and ranching industry too. I have thought about partnering with Farm Bureau might be an idea.
Excellent speech Benjamin.
A significant differentiator of the prescription drug supply chain is the stakes involved -- we're talking about Americans' health. PBM behavior can directly cause death (not so with Tyson, Amazon, Apple).
Another difference is that the person receiving the goods (the patient receiving the medications) is often not the same entity paying for the goods. The payor is often an employer or taxpayers, for Medicare, or Medicaid.
Thank you for your helping to educate the public on this topic!
Very informative and well written. Years ago I was sued by one of the major PBM's on a project for a national union group doing an analysis of their contractual agreement( or lack of). These public entities thrive on the fact that corporate America is not willing to think out of the box to bring costs down. They have the marketing power. They also have the major/national employee benefit consulting firms working on their behalf.
Very good column Benjamin. I have been aware of the corporate problems in the farming and ranching industry too. I have thought about partnering with Farm Bureau might be an idea.