Recorded on 12/08/23

In this episode, we take a look at the pharmacy benefit management, or PBM, industry which has been instrumental in managing down the cost of prescription drugs and plays a vital role in holding back the rising cost of healthcare. Yet the industry is not without controversy, often criticized for lack of transparency and misaligned incentives, particularly around rebates. But it’s also an industry that has continued to evolve as the healthcare landscape has changed. More recently, we’ve seen new entrants enter the market using technology to disrupt the status quo, and in this episode we explore how we’ve gotten to where we are, who’s to blame, and how we solve the biggest issue: making drugs more affordable for the consumer. To discuss this topic, we’re joined by Mark Thierer, Co-Founder and CEO of Waltz Health, and Jeff Park, President of Waltz Health. Mark and Jeff, both longtime PBM industry veterans, have helped transform the industry over the past 20+ years starting with SXC Health Solutions growing it into Catamaran, which became one of the major players in the PBM industry before being sold to UNH’s OptumRx in 2015 for $13B. They are now back with Waltz Health, a digital health company developing technology-enabled ways to bring down prescription drug costs.

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