June 18, 2020
Host JC Scott speaks with Mostafa Kamal, CEO of Magellan Rx Management, about the evolving role of the PBM market in delivering solutions to its clients. JC and Mostafa also discuss challenges to Medicaid during the current economic downfall, as well as upcoming technological innovations to improve the patient experience.
- PBM Tools Drive Affordability and Care for Medicaid: Recent unemployment hikes are expected to put severe strains on Medicaid. States across the US will have budgetary pressures to cope with the surge of new patients. Magellan Rx Management is delivering solutions to US States and DC to lower costs and improve efficiency for their Medicaid programs.
- New PBM Market Disruptors Are Emerging: Innovators (i.e., “disruptors”) identify and eliminate market inefficiencies to improve customer experiences. In the age of COVID-19 and changing consumer expectations, Mostafa anticipates an increase in the pace of PBM market disruptions. JC and Mostafa discuss some major disruptions on the horizon, including drone home deliveries, real-time information sharing, and predictive modeling to identify medication non-adherence risks.
- Greater Personalized Care in the Future: Mostafa believes that future PBM market disruptors will focus on the personalization of medicine. He foresees a customized, genetic-based pharmacy experience for each patient.
Episode Sound Bites:
What makes PBMs Unique?
The role of the disruptor
COVID-19 and disruptors
Drone delivery of prescription drugs