Sharon Faust on Navigating Challenges and Opportunities in Pharmacy Benefits | PBMI Innovator

Sharon Faust, Pharm.D., MBA, senior vice president and chief pharmacy officer at Navitus Health Solutions, is among the inaugural winners of Managed Healthcare Executive’s PBMI Innovator Award. The award honors leaders who are driving change amid the complexities of the pharmacy benefit management (PBM) market.

When asked about entering a healthcare sector burdened by a difficult reputation, Faust acknowledged the challenges but also highlighted the opportunities her role presents.

“The regulatory environment has certainly been a challenge because we really promote transparency and to a really, really large extent, and a lot of what’s going on is transparency,” she said. “So we really support a lot of the legislation, you know, but there’s dynamics and components to that that become administratively difficult as it relates to producing the kind of the business.”

Faust shared that while the sector’s political negativity creates hurdles, it also opens doors for meaningful conversations about alternative business models.

“Coming into this role where, in an environment where it’s so negative, politically, it’s been challenging, but also it produces, it does produce the opportunity to talk about our model and how our model is different, and how we feel that it aligns with what the intentions are of the regulations,” she said.

She stressed the importance of educating stakeholders about unintended consequences in regulation.

“We just want to make sure we educate as it relates to unintended consequences along those lines,” Faust said. “Really what we should be supporting plan sponsors and patients and making sure that healthcare dollars are efficient.”

Her advocacy extends beyond corporate strategy. Over the past year, Faust has been active in policy discussions, including testifying before the Senate Judiciary Committee.

“I’ve been to DC quite a few times this year,” she shared. “A lot of that has been just educating on, you know, what are the different types of models within the PBM industry and how do we ensure that regulation is producing its intended consequence or outcome.”

Faust’s work reflects a commitment to transparency, education, and thoughtful regulation aimed at improving patient care and efficient use of healthcare resources.