Spooky szn for PBMs
2022 has been a spooky year for pharmacy benefit managers (PBMs). This summer saw increased FTC scrutiny for six of the largest PBMs, coupled with proposed federal legislation to tighten pricing transparency. In response, we’ve watched new players creep into the arena—the Mark Cuban Cost Plus Drugs Company announced their first health plan partnership with Capital Blue Cross in early October and teamed up with PBM startup Rightway. On the heels of Amazon Pharmacy's deal with Florida Blue, industry veterans are pursuing new avenues of attracting business. New entrants and strategies aren’t the only shakeups, with Centene announcing a new $35B+ PBM contract with Express Scripts. The PBM industry is undoubtedly due for some fresh blood, especially with much of near-term innovation focused on lack of transparency and passthrough of profits. But whether recent moves end up being game-changers—or new additions to healthcare’s innovation graveyard—remains to be seen.
Headlines
New Partnership To Optimize Medications While Lowering Prescription Drug Costs
Rock Health port co Arine’s new integration with Gemini Health will deliver value-based care HIT Consultant
YouTube Will Let Doctors And Nurses Apply To Be Labeled As Reliable
How successful will this be in tackling medical misinformation? The Verge
UnityPoint CEO Warns Other Health Systems Not To Make The Mistake His Did
Tech adoption lessons learned from CEO Clay Holderman MedCity News
How Reproductive Technology Is Changing What It Means To Be A Parent
Advances could lead to babies with four or more biological parents MIT Technology Review
Investors Are Sitting On Mountains Of Cash: Where Will It Be Deployed?
Capital deployment has been in a “wait and see” mode—what now? TechCrunch
Evidation Launches FluSmart To Better Identify And Understand Flu Early
Rock Health port co Evidation has launched a digital flu monitoring program HIT Consultant
Recent Funding
- Health benefits navigation solution HealthJoy lands $60M
- School-based pediatric telemedicine provider Hazel Health reels in $51.5M
- Remote patient monitoring and support solution Electronic Caregiver locks in $42.5M
- AI-based, provider-focused patient management solution Navina pounces on $22M
- RightMove, a virtual MSK care provider, secures $21M to launch its initial offering
- Robin Healthcare brings in $17M for its orthopedic-focused ambient virtual scribe technology
- Floreo inks $10M for its VR-based behavioral therapy program for Autism Spectrum Disorder
- Menopause-focused women+ healthcare provider Midi picks up $14M
- Gabbi finds $4.4M for its suite of breast cancer screening and prevention patient tools
- Chronic eye-care management solution Lumata Health nabs $4M
- Elion Health brings in $3.3M for its digital health builder tool and tech vendor marketplace
- Virtual-first couples therapy provider Ritual closes in on $2M