Welcome back to the Digital Health Heavyweights Podcast for Episode 54! In today’s episode, Norm Volsky interviews Chris Crawford, founder and CEO of RX Save Card. They discuss Chris's journey into healthcare, his experiences at Health Strategy, and the complexities of the pharmacy benefits management (PBM) landscape. Chris shares insights on the importance of having experts in the field, the role of consultants, and the impact of recent lawsuits on PBM practices. The conversation also covers the innovative solutions offered by RX Save Card to help employers save on prescription costs, the member experience, and the future of the PBM market.

Takeaways

🩺 Chris Crawford transitioned from accounting to healthcare to help people.  

📊 Health Strategy provided Chris with a deep understanding of pharmacy benefits.  

⚖️ Employers need to be cautious about their relationships with PBMs.  

💊💰 RX Save Card aims to help employers save on prescription costs.  

🔍⚖️ The pharmacy benefits landscape is under scrutiny due to recent lawsuits.  

🧑‍🏫 Consultants play a crucial role in navigating PBM relationships.  

💡 Innovative solutions are needed to address high prescription costs.  

🌐✨ The member experience with RX Save Card is designed to be seamless.  

🤝📈 Fundraising for RX Save Card was relationship-driven and focused on product development.  

🔮🛒 The future of the PBM market will involve more transparency and choice.

Chapters

00:00 Introduction and Background

03:02 Revolutionizing Employer-Sponsored Prescription Benefits

09:56 The Role of Consultants in Guiding Employers

12:36 Challenges and Opportunities in Precision Pharmacy

16:43 Balancing Cost Savings and Trust in Healthcare

19:16 The Impact of ERISA Class Action Lawsuits

19:40 Eye-Opening Experience of Prescription Drug Costs

21:34 RxSafecard: Getting Rid of Waste in PBM Spend

23:42 Accessing Lower Drug Prices Outside of PBMs

25:29 Implementing RxSafecard and Getting It Up and Running

32:10 Coexistence with New Age PBMs

36:17 Predictions for the PBM Market

38:36 Practicing What You Preach: Fitness and Healthy Eating

41:07 Outro

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