If soaring pharmacy costs and complex drug management are challenging your benefits strategy, this episode provides practical ways to optimize spend and improve outcomes without compromising employee care.

Resources Mentioned:

2026 On the Pulse Report⁠: Insights on Employee Benefits Trends – Download this free report for forward-looking trends in employee benefits, including data-driven funding shifts, healthcare costs, and mid-market strategies.

Visit imacorp.com to connect with the IMA team and learn more about building smarter employee benefits.

Listen and Subscribe: Share this episode with a fellow HR leader and subscribe to On the Pulse with IMA on your favorite podcast platform for more practical insights. Have questions or topics you'd like covered? Reach out via imacorp.com.

Episode Description: Kelly Bowman sits down with Austin Nabor, Pharmacy National Director for the IMARx Program at IMA Financial Group, to tackle the pressing challenges in pharmacy benefit management. Austin explores rising drug costs, the impact of GLP-1 medications, and effective strategies for evaluating pharmacy benefit managers (PBMs). He shares actionable advice on implementing cost-containment measures, optimizing specialty drug management, and balancing access with financial sustainability. From navigating prior authorizations to integrating wellness programs for long-term savings, this conversation delivers insights for HR leaders aiming to control pharmacy spend while supporting employee health. Whether you're dealing with double-digit increases or seeking innovative funding models, Austin's expertise offers a roadmap to smarter decisions.

Guest Bio: Austin Nabor, Pharm.D., serves as the Pharmacy National Director for the IMARx Program at IMA Financial Group. With deep expertise in pharmacy benefit management, he guides employers in controlling escalating drug prices through targeted strategies and efficient programs. Austin focuses on helping organizations achieve meaningful savings while maintaining high-quality care, drawing from his experience in cost management, PBM evaluations, and innovative pharmacy solutions.

Host: Kelly Bowman

Key Timestamps:

00:00: Introduction to pharmacy cost challenges and rising trends

01:20: Show intro and welcome

02:05: Austin introduces himself, his role at IMA, and a fun fact

03:15: Personal chit-chat on healthcare innovations

04:10: Defining current pharmacy spend issues and their evolution

06:00: Shift to strategic cost management approaches

07:00: Impact on budgets, employee access, and tailoring strategies to company size

08:30: Common pitfalls: Ineffective PBM contracts, with real-world examples

10:50: Client story on implementing GLP-1 coverage for better outcomes

13:15: Measuring success: ROI on pharmacy programs, claims analysis, and savings metrics

15:55: Designing strategies for diverse workforces, with specialty drug examples

19:25: Communication trends, tools, and using data to promote pharmacy benefits

21:25: Misconceptions about drug cost control

22:30: Bridging HR needs with finance priorities, plus biosimilar adoption example

24:00: PBM evaluations and setting realistic goals

26:00: Mindsets holding employers back: Over-reliance on traditional models

28:30: Upcoming trends: Oral GLP-1s and value-based contracting

29:45: Rethinking high-cost drug support through targeted interventions

31:55: Building a culture of cost-aware benefits from leadership down

33:30: Role of technology, analytics, and personalization in pharmacy management

34:40: Branding pharmacy initiatives for employee buy-in

34:55: Must-have strategy for 2026: Aggressive PBM optimization

35:40: Advice for organizations: Analyze claims data, partner wisely, and monitor continuously

37:55: Closing thanks and show outro