Intelligent Solutions in Pharmacy Benefits
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Express Scripts Holding Co., one of the largest publically traded PBMs, is continuing to make major changes to their executive level employees. Most recently, Eric Slusser, former CFO of Gentiva Health Services Inc., was appointed CFO almost immediately following the retirement announcement from Express Scripts’ CEO of 11 years George Paz - Slusser’s news broke just a day later. With a background that includes executive experience with Centene Corp. and Cardinal Health Inc., Slusser’s projected earnings are upwards of $2.75 million.
As for CEO George Paz, he will officially step down from his position in May of 2016, although he will still remain involved in the company as a non-executive chairman. His replacement is Tim Wentworth, who is currently Express Scripts’ president, according to NASDAQ. Wentworth’s resume includes experience with Mary Kay, Inc., PepsiCo, Accredo and Medco - prior to Express Scripts’ acquisition of Medco, he was with the company for 14 years and was the president of Accredo (Medco’s specialty pharmacy).
So what does all of this mean for those who use Express Scripts as their pharmacy benefit manager? As a company that manages $1 billion prescriptions for an approximate 85 million people every year (via ABC News), these changes will certainly require the PBM to place their focus on continuing to grow their profits - and at the cost of plan’s health care budgets at that. Therefore, it becomes increasingly more important for providing entities to seek the help of an expert like PBIRx, which is INDEPENDENT from the PBM and whose focus is to lower the PBM profit and increase your pharmacy benefit budget, which is at risk with the increase of high cost drug prescribing.
Here at PBIRx, we can review your pharmacy benefit contract and ultimately oversee your plan’s management to ensure that all actions provide you with the greatest benefit rather than the PBM.
For more information about our pharmacy benefit consulting and auditing services and how they can help you achieve optimal health care outcomes while minimizing overall health care costs, please visit our website or contact us at 1-888-RxPBIRx (797-2479).