Oof.
I knew it was going to be bad before I sat down with Zack this morning. But even with low expectations, I wasn’t prepared for just how dirty the PBM scams really are.
Want to boast that you return 100% of rebates to your clients? Simple. Route the cash through a shadow intermediary in Europe, reclassify part of it as “appreciation dollars” or some other fictional nonsense, and voilà, you’ve technically returned 100% of “rebates” after you’ve siphoned off your tribute.
The greed and money laundering transpiring in the pharmacy game would make the creators of Ozark blush.
I needed a nap and a shower after this one.
Zach Robinson is the co-founder and CEO of DisclosedRx - a truly transparent, fully disclosed PBM.
