Greg Baker is the CEO of AffirmedRx. He predicts that "transparent PBMs will gain traction" in 2024.
We asked our readers and some members of our editorial advisory board to make predictions for 2024. Here's what Greg Baker said:
“In 2024, Optum Rx will follow suit with their own group purchasing organization (GPO) spinoff so they can take advantage of acquisition price models like CVS’ Averon and Express Scripts’
ClearNetwork. Several media outlets have compared these programs to the Mark Cuban Cost Plus Drug Company, but unlike Cost Plus, which fully discloses what it pays for medications, none of these GPOs will take a similar stance on disclosure.
Transparent PBMs will continue to gain traction in the market as traditional PBMs continue to lead employers to higher-cost, opaque models. Employers are told each year that their drug discounts will get better and their rebates will improve and yet every year their overall costs continue to increase.
Plan sponsors pharmaceutical costs will increase in 2024 and profits associated with companies that own traditional PBMs will see profit increases across all of their affiliate organizations.”
2023 Drug Trend Report - Xevant
May 16th 2024To effectively navigate the changing pharmacy landscape and maintain a robust, cost-effective pharmacy benefit, you must understand the forces behind rising drug trend. What’s driving your costs and what can you do about it? As a leader in the PBM analytics space, we offer a unique perspective on pivotal trend drivers. Here’s what our comprehensive analysis revealed: -A surge in utilization rates across specialty and non-specialty drugs, magnified by anti-obesity therapies -Financial strain imposed by anti-inflammatory biologics and the yet-to-be-fulfilled -promise of biosimilar savings -Persistent price inflation driving higher costs year over year
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