Blue Shield of California dropped CVS as its PBM – why it could save them $500 million
Employee Benefit News looks at Blue Shield of California’s move to work with multiple organizations to provide pharmacy benefits to their members. Prescryptive CEO, Chris Blackley, shares his view on what this means for the wider healthcare market: “Blackley predicts more carriers will consider breaking away from the big PBMs so they can at least have a shot at reducing costs rather than indirectly feeding the profits of another insurer. Ideally, a majority of savings will be pushed to employers and employees. ‘What Blue Shield has done is a very significant shift in the market, because it signals how bad the current paradigm is,’ says Blackley.” Read more in EBN.