Pharmacy Times August 20, 2024
Brandon Newman discusses the significant influence of the “big 3” pharmacy benefit managers and the key legislative and regulatory efforts around transparency.
Brandon Newman, founder and CEO of Xevant, delves into the complex landscape of pharmacy benefits managers (PBMs) and the regulatory environment surrounding the industry. Newman highlights the outsized influence of the “big 3” PBMs, which control over 80% of pharmacy utilization, and how their practices impact the cost and access for both patients and pharmacies. He discusses the key legislative efforts at the state and federal levels, focusing on the push for greater transparency in reimbursement rates, business practices, and fees. He also emphasizes the role of innovative, smaller PBMs in offering unique value propositions, such as high-service...
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