Blue Shield of California CEO on PBM Shakeup: Its Going to Become the Norm [Video]

Pharmacy benefit managers (PBMs) are getting a reprieve after PBM reforms were left out of congressional funding bills. But Blue Shield of California is still taking steps to lower prescription drug prices through its recent PBM shakeup, and predicts that others will follow, CEO Paul Markovich recently said.

MedCity News hosted a fireside chat at ViVE with Markovich, launching a series of intimate networking events at healthcare conferences. Called Tête-à-tête Health, these conversations feature executives discussing how healthcare can be transformed to make the system work equitably and affordably for all.

Blue Shield of California announcedin August that it will be largely cutting out CVS Caremark as its pharmacy benefit manager (though keeping it around for specialty pharmacy services). It is also partnering with Amazon Pharmacy for home delivery services, Mark Cuban Cost Plus Drug Company to build a more transparent pricing model, Abarca to handle the payment of prescription drug claims and Prime Therapeutics to negotiate savings with …