LucyRx Chief Commercial Officer Susan Thomas sat down with David Saltzman, host of the ShiftShapers podcast, to discuss how LucyRx is tackling the problems within the pharmacy benefit manager (PBM) landscape by eliminating formulary conflicts, addressing misaligned incentives, and helping plan sponsors regain control of their pharmacy benefits.
During the episode, Susan detailed how traditional PBMs lock employers into exclusive GPO (Group Purchasing Organization) deals, which drives up costs and cuts out choice.
“LucyRx is not handcuffed to one GPO’s decision-making around formulary drugs and preferred brand drugs,” Susan told ShiftShapers. “We’ve created a formulary marketplace that gives us much broader access to what’s going on in the whole ecosystem. It also gives us flexibility to create utilization management criteria. That really makes more sense for plan sponsors and their members.”
She also elaborated on traditional PBMs’ misaligned incentives due to their vertical integration with large insurance companies and ownership of mail and specialty pharmacies.
“We’ve seen the big three push, push, push prescriptions to either their mail facility or the retail chain that they own,” Susan said. “LucyRx is contracting with best-in-class mail facilities like Amazon, which offers a modern, truly efficient member experience at a lower cost.”
By providing a customized formulary and contracts with a variety of pharmacy networks, LucyRx is putting affordability and control back in the hands of plan sponsors.
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