Pharmacy Benefit Managers
topic on 6 shows · 10 statements across 7 episodes
the Y Combinator Startup Podcast 
A Product Market Fit Show 
How I Built This 
the a16z Podcast 
All-In 
20VC
10 statements about Pharmacy Benefit Managers, every show
Loiacono: Traditional PBMs have a 'horrible conflict of interest'
“I felt this was a horrible conflict of interest. The conflict of interest is, think about it, if you're asking someone to manage your benefit plan, and the more expensive the medication, the more money they make, that doesn't sound like a recipe for good outco…”
Loiacono: Competing PBMs Faked Mandatory Federal Compensation Disclosures in 2023
“23 people needed to start reporting this information, people being pharmacy benefit managers and administrators like ourselves, Had to start reporting this information. And what we realized is people were faking it. They either weren't doing it or they were pr…”
Mark Cuban says Pharmacy Benefit Managers are the core problem in healthcare
“You know, everybody, Amazon, everybody else. Okay. We're going to work with the big PBMs. Cause that's where the money is. And I'm like, no, they're the problem.”
Cuban: PBMs threaten drugmakers over Cost Plus Drugs partnerships
“And they've literally told the brand manufacturers, if you deal with costplusdrugs.com, we will diminish you on that formulary. So instead of reaching a hundred eighty million people, And not just for the drugs they work with us on, but for their entire portfo…”
Frankel: Pharmacy benefit managers hold huge market caps while adding no value
“And these are these legacy companies, a great example of them is the PBMs, the Pharmacy Benefit Managers. Companies that were very innovative 40 years ago, So a PBM connects the pharmacy to the insurer. You know, 40 years ago or 30 years ago, they were great c…”
Cuban: Pharmacy benefit managers drive up drug costs more than anything
“Pharmacy benefit managers Are ripping off more companies and costing and increasing the cost of medications more than anything else that's happening in healthcare”
Cuban: PBMs skim 10% of drug manufacturer rebates through subsidiaries
“Now, they say they're going to pass on a hundred percent of that rebate. They don't. They create all these subsidiaries and everything that skim 10% or whatever off the top”
Cuban: Vertically integrated healthcare firms and PBMs manipulate drug pricing
“The way the drug industry is now, the process that takes a drug, once it's been manufactured, put aside all their R&D and the development of the trials, Once that drug manufacturer starts making a drug, the process it has to go through to get to the patients i…”
Cuban: Cost Plus Drugs prices are almost always lower than insurance copays
“All the complications that are introduced by these pharmacy benefit managers and the big companies that they are part of, we eliminate, and that allows us to sell our drugs almost always for less than the copay that you have for your insurance.”
Wojcicki: Healthcare patients lack decision power because they aren't the direct payer
“The main thing in healthcare is that you don't actually ever have a voice. Like, you don't, like, you don't actually, because you're not the payer in healthcare, like, you the individual, you don't actually make decisions. It's, you know, your insurance compan…”