Topics:

Consumerism
Pharmacy Benefit Manager
Transparent Model
Misaligned Incentives
Reference Based Pricing
Rebates
Formulary Alignment

In this episode, Michael introduces you to Paul Ford, the Founder, and CEO of OrchestraRx. Join us as we discuss OrchestraRx’s consumer-driven pharmacy benefit model and the impact it can have on an employer-sponsored health plan’s drug spend.
Here’s a glance at what we discuss in this episode:

Paul’s unique experience in healthcare and why he founded OrchestraRx
The anti-competitive landscape and lack of transparency that enables healthcare costs to rise
How OrchestraRx’s model is different from the traditional pharmacy benefit manager
The difference between a Traditional PBM Model and a Transparent PBM Model
How OrchestraRx’s consumer-driven pharmacy benefit manager model is trying to address the employer’s total net cost
Why incentives in a traditional pharmacy benefit manager contract are misaligned  
How a smaller PBM can provide more savings to an employer than a larger PBM with more negotiating power
OrchestraRx’s unique tools that optimize spend toward lower-cost prescription drug options
How OrchestraRx partners with employers to create communication and engagement strategies to notify employees of new programs and cost-saving opportunities
How OrchestraRx addresses waste in the traditional formulary structure with a reference based pricing strategy even if there is a copay structure  
OrchestraRx’s unique solution of rebate banking that facilitates a share of the prescription rebate with the employee at the point of sale  
OrchestraRx’s fee structure options and who they are a good fit for
OrchestraRx’s website and contact information: https://www.orchestrarx.com/

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