RxBenefits’ Chief Executive Officer, Bryan Statham, sat down with the Breaking Health podcast to discuss the launch of the first and only pharmacy benefits optimizer (PBO) model. In the interview, he also shares how he got into the healthcare space and what inspired him to transition from a much larger company to join RxBenefits as the company’s third employee in 2005. The following is a brief excerpt; you can listen to the full episode on the Breaking Health podcast website, as well as Apple Podcasts.
Steve Krupa (Breaking Health host): “You’ve been the CEO of the company since 2005. Obviously, you’ve been there for some time, and you’ve built up the company over a period of time. I’d love to understand how you got to the company, what was it that excited you in the early days, and how that evolved into what you’ve built today.”
Bryan Statham: “In the early 2000s, right before I joined RxBenefits, I realized that pharmacy was becoming a bigger portion of the overall healthcare dollar, and it was getting very little attention from employers. It seemed to be a disconnect because I saw that benefit continuing to grow. I had the opportunity to join RxBenefits, I was the third employee in 2005, and my goal there was to put myself in a position where I could work with the brokers and the self-insured customers to really help them better manage the pharmacy benefit by carving it out. And this is a really key point, much like most of the nation’s largest employers were already doing, the majority of the Fortune 50 carved out, so I was trying to reconcile in my mind if it’s good for the Fortune 50, why is it not also good for the smaller in the marketplace too, and that’s what brought me to RxBenefits.”