Purchaser Business Group on Health Launches New Company, Emsana Health, to Develop Solutions that Meet the Specific Needs of Large Employers
EmsanaRx is structured to address the lack of accountability of the PBM industry to its employer clients, who largely lack access to information about drug costs, true discounts and administrative fees that contribute to huge profits -- predominantly for three PBMs dominating 80% of the market. Developed by PBGH with the backing of its members, EmsanaRx’s business incentives are structured to align with the interests of the large employers paying the bills.
San Francisco, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The Purchaser Business Group on Health (PBGH), a nonprofit coalition of nearly 40 large, private employers and public health care purchasers committed to transforming health care nationwide, today announced the launch of Emsana Health, an independent company established to build health care products that meet the unique needs of large employers and their employees.
Designed to address the concerns of many U.S. employers that the health care services they buy are of uncertain quality and exorbitantly priced, Emsana Health launches today with its first business unit, EmsanaRx, a new pharmacy benefit manager (PBM) built by employers, for employers. Emsana Health will serve as an innovation studio to develop products designed with and for PBGH member organizations.
“Our members have asked us to use our unique position in the market and deep expertise with large employers to help them develop solutions for the pain points that aren’t being addressed by the status quo and to reshape the health care market so it delivers for them and the employees they cover,” said Elizabeth Mitchell, president and CEO of Purchaser Business Group on Health and Chair of the Emsana Health board. “Emsana Health and its first business unit, EmsanaRx, are a natural outgrowth of PBGH’s 30-plus years of work redesigning health care markets to reflect our members’ priorities.” PBGH is a majority owner of Emsana Health.
EmsanaRx is structured to address the lack of accountability of the PBM industry to its employer clients, who largely lack access to information about drug costs, true discounts and administrative fees that contribute to huge profits -- predominantly for three PBMs dominating 80% of the market. Developed by PBGH with the backing of its members, EmsanaRx’s business incentives are structured to align with the interests of the large employers paying the bills.
Emsana Health is led by Julia Hutchins, the company’s new managing director. Hutchins comes to the role with more than 20 years of experience building innovative health plan products and companies.
Greg Baker, R.Ph. will lead Emsana Health’s new PBM, EmsanaRx, as its CEO. Baker, a clinical pharmacist by training, brings more than 25 years of pharmaceutical industry experience, most recently as a senior pharmacy consultant with Blue & Co., LLC and Vice President of Pharmacy Services at Premise Health.
“The pharmaceutical supply chain is broken. An opaque third-party payment system creates a profit haven for intermediaries whose interests are not aligned with their clients,” Baker said. “PBMs have leveraged their solutions to weave interdependent revenue streams that are built into the price of drugs paid for by employers, employees and their families.”
The new PBM offers large employers a level of transparency, flexibility and control not currently available in the market, with a fixed price per prescription and direct guidance from a dedicated clinical pharmacist account manager partnering with employers to design their own pharmacy network and modify their formulary.
“Customers will know exactly what they are paying for and can make strategic adjustments in real-time. For the first time, employers will own their own data and have the information and tools and clinical resources dedicated exclusively to their unique needs and patient populations,” Baker explained.
“Purchasers feel they’ve given the health care industry ample opportunity to reform the payment and delivery system, but it simply hasn’t happened,” Mitchell added. “Now, purchasers are taking bold action to improve health care value and quality. Emsana Health is here to help them make that happen.”
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About Emsana Health
Emsana Health is an innovation studio working with large employers to design and build products and tools that address their unique health care needs. Emsana Health works closely with large employers to identify solutions to health care challenges, partner with experienced health care entrepreneurs and leverage technology to build products that can scale across multiple employers. Emsana Health was founded by the Purchaser Business Group on Health to develop and advance products that tackle some of the biggest problems large employers face with health care.
About the Purchaser Business Group on Health
PBGH is a coalition of large private employers and public institutions dedicated to transforming health care throughout the country with innovative strategies to improve health care quality and control costs. Representing 40 public employers and private organizations across the U.S. that collectively spend $100 billion annually purchasing health care services for more than 15 million Americans, PBGH has a long history of developing, incubating and launching successful operational programs on behalf of and in partnership with large employers. PBGH’s initiatives are designed to test innovative health care methods and scale successful approaches that lower health care costs and increase quality across the U.S. PBGH exclusively represents the interests of U.S. employers and public institutions buying health care services on behalf of working Americans and their families.
Lisa Zamosky Purchaser Business Group on Health 9177510232 [email protected]