A nonprofit coalition of large, private employers has launched a new pharmacy benefit manager named EmsanaRx.
The Purchaser Business Group on Health, which includes nearly 40 employers, said the new PBM will increase transparency and flexibility for employers.
The group said EmsanaRx will address the "lack of accountability of the PBM industry to its employer clients, who largely lack access to information about drug costs, true discounts and administrative fees that contribute to huge profits."
Greg Baker, a clinical pharmacist, will lead the PBM as CEO.
"The pharmaceutical supply chain is broken. An opaque third-party payment system creates a profit haven for intermediaries whose interests are not aligned with their clients," Mr. Baker said in an Oct. 25 news release. "PBMs have leveraged their solutions to weave interdependent revenue streams that are built into the price of drugs paid for by employers, employees and their families."
The group said EmsanaRx will offer a fixed price per prescription and direct guidance from a dedicated clinical pharmacist account manager partnering with employers to design their own pharmacy network and modify their formulary.
"Customers will know exactly what they are paying for and can make strategic adjustments in real-time. For the first time, employers will own their own data and have the information and tools and clinical resources dedicated exclusively to their unique needs and patient populations," Mr. Baker said.
EmsanaRx was announced the same day Mark Cuban's new generic drug company said it is also launching its own PBM.
Read EmsamaRx's full news release here.