The latest news on the lawsuit filed by the employees of JPMorgan adds yet another name to a growing list of companies facing legal action due to the behavior of their #PBM. As these cases continue to make headlines, it is clear that an aligned partner is crucial. Read how selecting a pharmacy partner that provides #fiduciary contract language is more important than ever.?https://lnkd.in/exqahaAf
A lot of plan sponsors are wondering what these lawsuits against their peers really mean (J&J, Wells Fargo, JP Morgan). Let’s face it, our pharmacy supply chain and the associated economics has issues. But the reality is there are models available today that drive costs down while providing high engagement patient care (meaning without the disruption that is so feared). Step 1 (and step 2 and step 3 ??) is all about removing the hidden and/or misaligned incentives between you (the plan) and your pharmacy services vendor - do that and minimize your risks immensely! In other words, find a pharmacy services partner that will: (A) Provide real fiduciary support (B) Separate their economics from all clinical decision making (C) Remove all upside shared savings, buy up program charges and other ad hoc services fees (D) Not chase rebates, and still pass through ALL the manufacturer money received (not just Rebates but, MAF, BSFs, Data Monetization….all of it) (E) Be able to build trust with prescribers so they can drive to the lowest cost efficacious product for their patient (F) Give performance and financial guarantees to back all of this up ..and you can expect happier plan participants and a marked decrease in the cost of your plan. Ladies and gentlemen — Pushing the status quo button always seems simpler, but how many times have you been told “we’re saving you 20% next year for your pharmacy costs”, only to observe an increase in costs that following year? Why do you think that is happening? I’m not here to give you a commerical - other that to implore you to ask questions and demand something better. You and your plan participants deserve more, whether it’s SlateRx serving you or someone else.