Group Purchasing Organizations of 'Big 3' PBMs Cloud Transparency, Says Critic | PBMI 2024

Greg Baker, CEO of AffirmedRx, gave a presentation at the 2024 PBMI Annual National Conference in Orlando titled, "Unveiling the Shadows: Exploring Detrimental PBM Trends and Their Impact on Employers." In this interview recorded prior to the meeting, Baker discussed what he views as the lack of transparency in the group purchasing organizations (GPOs) that the large PBMs have set up to manage rebates and ongoing vertical integration in the healthcare industry. Baker also discusses the differences between the cost-plus products that the major PBMS are offering and Mark Cuban Cost Plus Drug Company. Baker says Mark Cuban Cost Plus discloses how much it paid for a drug at a single price whereas the PBMs disclose a range that Baker says leads to a lack of transparency about the what the drug actually cost. AffirmedRx is one of the smaller PBMs challenging the major PBMs with business practices that they say are more transparent and can save employers money.