Dr. Noseworthy said during an interview on CNBC’s “Squawk Box” television segment March 28 he recently had the opportunity to speak to officials involved in the Amazon, Berkshire Hathaway and JPMorgan Chase healthcare venture. He said partnerships like their venture must examine ways to “remove the intermediary steps that add so much cost and add no value.”
He pointed to pharmacy benefit managers as a prime example of that “intermediary step.” PBMs act as the middlemen, negotiating drug benefits for insurance plans and employers, and have become mightier in recent years, Dr. Noseworthy said, adding that there must be a way “to go directly to the patient with some of these answers and some of these products.”
As part of that conversation, he specified Mayo Clinic is embarking on projects with various other healthcare organizations to “drive out that waste … [that adds] no value,” according to the report.
To access the CNBC report, click here.
More articles on leadership:
Viewpoint: Why hasn’t Congress put pharma CEOs ‘on the hot seat’?
Indicted Broward Health board chairman resigns: 5 things to know
Trump fires VA Secretary Dr. David Shulkin, plans to nominate White House physician Dr. Ronny Jackson
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.