As a healthcare innovator and thought leader, LucyRx CEO David Blair sat down with David Raths, Healthcare Innovation’s contributing senior editor, to discuss a $500 million investment from LRVHealth and the ways LucyRx is creating a better pharmacy benefit manager (PBM) model
“Why LucyRx? I think it starts with the fundamental observation that innovation in the PBM industry has stalled, and the prescription care delivery model in this country is broken by almost any metric,” Blair said during his interview with Healthcare Innovation.
Blair and Raths discussed how LucyRx is disrupting a PBM industry dominated by misaligned incentives. LucyRx gives employers choices through its formulary marketplace, delivers better patient care through an integrated specialty network and prioritizes health outcomes over profits. Additionally, LucyRx’s proprietary, AI-powered analytics platform arms plan sponsors and members with real-time information they can use to find the lowest available price on prescription drugs.
“It’s completely different than what the big guys do,” Blair told Healthcare Innovation. “It makes complete sense for our health plans.”
Blair also shared how LucyRx’s Sustaining Pharmacy Access & Rural Care (SPARC) Program helps ensure independent pharmacies — and the communities they serve — can thrive.
“The country is facing a crisis with the closure of pharmacies,” Blair said. “Thousands of stores have been closed, and they disproportionately impact independent pharmacies. Because of antiquated reimbursement models and regulations, we’ve limited the pharmacist to essentially counting pills, and they’ve got six to eight years of experience. Pharmacists are probably the most trusted and underutilized resource that we have in the healthcare delivery system, so we’ve got to empower them.”
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