Rightway’s Post

Name: Rightway on LinkedIn: #pbm #pharmacybenefits #transparency #benefits #rightway #healthcare
Uploaded: 2024-08-09T21:45:15.636Z
Channel: Rightway

Rightway

11,158 followers

2mo

Transparency is becoming an overused buzzword in the PBM industry. Traditional PBMs claim to provide clear pricing and rebate details, but their level of transparency is questionable. And how do you regulate transparency in drug pricing when everyone in the industry seems to have their own definition? Discover how Rob Paczkowski, eBay's Senior Director of Global Benefits, defines transparency. Watch the full webinar here: https://bit.ly/3WVYEtY #pbm #pharmacybenefits #transparency #benefits #rightway #healthcare

3 Comments

Transcript

As an employer, what does transparency mean to you? For us, when we did our our PBM RFP, we defined it very specifically. So we didn't just ask folks, hey, are you gonna offer us a transparent full pass through model? We said. For us it really transparency means a common currency first and foremost of what we're talking about as far as the drug definitions. So as a PBM's are using industry standards because we feel like the Medispan definitions are the industry standards for how you define each of the different types of drugs. A single source, multi source brand generics, limited distribution specialty for the most part have industry standard definitions, but what we're. What we found was that meant, you know, particularly our former PBM did not use industry standard definitions. They used their own proprietary definitions for what these things were. And that allowed for a lack of transparency or I would even like go further to say a little bit of gamesmanship to kind of move the money around or squeeze the water through the balloon to benefit them.

Jeffrey M. Spiers, GBA, MBA

Inspired | Insurance | Advice

2mo

Transparency is a purchasing philosophy, not a cost reduction strategy.

Mark Head

More benefit program engagement = better results. Concepts: "Transmit on the frequency they're listening for," and "It's not what you say, it's how you say it." Messages not only "make sense," they also "feel right."

2mo

"Transparency" is kinda the opposite of the entire *real* purpose of PBMs, IMO! But I'm something of cynic about such matters.... Good stuff in this, though - thanks for posting, Rita!

Lonnie Ritzer

Tax, Real Estate,Sports and Transactional Attorney

2mo

Hello Ted.

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