Data Transparency and Flexible Formularies Essential For Plan Sponsors, CEO Says

Formulary design and data transparency are key components for a successful PBM, because of the way the two are connected, according to Robert Gamble, CEO of RxBenefits.

“What we don't think exists now is the ability for a plan sponsor to get granular-level data—things like drug-level rebates at the quantity level and more transparency into the network in terms of the cost at the pharmacy—and getting that data with the clarity of timing of them to decide that's really going to drive a result,” Gamble said in a recent video interview with Managed Healthcare Executive.

This transparency is what allows sponsors to choose between different formularies with confidence.

Illuminate Rx launched on Sept. 10.