Brigham Buhler
๐ค SpeakerAppearances Over Time
Podcast Appearances
They uncovered about 30 percent of the profitability of most drugs is being held by the pharmacy benefit managers.
Because the insurance company controls what drugs go on formulary. So we, like even with children's medications, moms really fill the drugs that the insurance will cover. So then the insurance company doesn't cover the best drug, the most efficacious drug, the least side effect drug. That's what I was wondering. They cover the tier drug, tier one, two, three, or four.
Because the insurance company controls what drugs go on formulary. So we, like even with children's medications, moms really fill the drugs that the insurance will cover. So then the insurance company doesn't cover the best drug, the most efficacious drug, the least side effect drug. That's what I was wondering. They cover the tier drug, tier one, two, three, or four.
Because the insurance company controls what drugs go on formulary. So we, like even with children's medications, moms really fill the drugs that the insurance will cover. So then the insurance company doesn't cover the best drug, the most efficacious drug, the least side effect drug. That's what I was wondering. They cover the tier drug, tier one, two, three, or four.
How do they decide which drug gets tier one preferential treatment based off the rebate? Not based off what's best for you. So if I'm an opioid manufacturer, aka the Sacklers, and I agree to give 30% of the money to your holding company, you're going to put me on a tier one. And what does that mean? It means overnight, I get Medicare, Medicaid, governmental contracts.
How do they decide which drug gets tier one preferential treatment based off the rebate? Not based off what's best for you. So if I'm an opioid manufacturer, aka the Sacklers, and I agree to give 30% of the money to your holding company, you're going to put me on a tier one. And what does that mean? It means overnight, I get Medicare, Medicaid, governmental contracts.
How do they decide which drug gets tier one preferential treatment based off the rebate? Not based off what's best for you. So if I'm an opioid manufacturer, aka the Sacklers, and I agree to give 30% of the money to your holding company, you're going to put me on a tier one. And what does that mean? It means overnight, I get Medicare, Medicaid, governmental contracts.
Overnight, any mother, father, anybody who comes into a pharmacy to fill a drug is going to get steered towards my drug. And so I can make money. It's a pay to play system. But we're the ones fitting the bill. We fit the bill. The insurance company never pays that. And that's where it gets even more condolented. People go, well, if I'm an insurance company, why would I want to pay 30% more?
Overnight, any mother, father, anybody who comes into a pharmacy to fill a drug is going to get steered towards my drug. And so I can make money. It's a pay to play system. But we're the ones fitting the bill. We fit the bill. The insurance company never pays that. And that's where it gets even more condolented. People go, well, if I'm an insurance company, why would I want to pay 30% more?
Overnight, any mother, father, anybody who comes into a pharmacy to fill a drug is going to get steered towards my drug. And so I can make money. It's a pay to play system. But we're the ones fitting the bill. We fit the bill. The insurance company never pays that. And that's where it gets even more condolented. People go, well, if I'm an insurance company, why would I want to pay 30% more?
Because you don't. So let's just use simple math. Let's use a GLP-1. Let's say the weight loss drugs, $1,000 a month is on average what they're charging in the United States. We compound that drug for a couple hundred dollars mailed to your doorstep with a consult, with a nutritionist and a doctor. And that's how we'll do it if we prescribe it.
Because you don't. So let's just use simple math. Let's use a GLP-1. Let's say the weight loss drugs, $1,000 a month is on average what they're charging in the United States. We compound that drug for a couple hundred dollars mailed to your doorstep with a consult, with a nutritionist and a doctor. And that's how we'll do it if we prescribe it.
Because you don't. So let's just use simple math. Let's use a GLP-1. Let's say the weight loss drugs, $1,000 a month is on average what they're charging in the United States. We compound that drug for a couple hundred dollars mailed to your doorstep with a consult, with a nutritionist and a doctor. And that's how we'll do it if we prescribe it.
Because prescribing a weight loss drug without talking about diet, lifestyle, nutrition is like brushing your teeth while eating Oreos. It makes zero sense. And so we'll do all of that and mail it to your doorstep. Why are they charging $1,000? Well, if you base that 30% number from the Senate Finance Committee, that's about $300 a month potentially could be held at a PBM as a profit.
Because prescribing a weight loss drug without talking about diet, lifestyle, nutrition is like brushing your teeth while eating Oreos. It makes zero sense. And so we'll do all of that and mail it to your doorstep. Why are they charging $1,000? Well, if you base that 30% number from the Senate Finance Committee, that's about $300 a month potentially could be held at a PBM as a profit.
Because prescribing a weight loss drug without talking about diet, lifestyle, nutrition is like brushing your teeth while eating Oreos. It makes zero sense. And so we'll do all of that and mail it to your doorstep. Why are they charging $1,000? Well, if you base that 30% number from the Senate Finance Committee, that's about $300 a month potentially could be held at a PBM as a profit.
But they never paid the 1,000, right? They paid $700. Then at the end of the year, most people are insured by their employer. So like me, I insure over 300 people. At the end of the year, United comes to me and they go, hey, Brigham, Joe Bob cost us $1,000 a month. He's on Ozempic. That's $12,000. We've got to raise your rate by 20%. You've got to pay us $15,000 to insure Joe Bob next year.
But they never paid the 1,000, right? They paid $700. Then at the end of the year, most people are insured by their employer. So like me, I insure over 300 people. At the end of the year, United comes to me and they go, hey, Brigham, Joe Bob cost us $1,000 a month. He's on Ozempic. That's $12,000. We've got to raise your rate by 20%. You've got to pay us $15,000 to insure Joe Bob next year.
But they never paid the 1,000, right? They paid $700. Then at the end of the year, most people are insured by their employer. So like me, I insure over 300 people. At the end of the year, United comes to me and they go, hey, Brigham, Joe Bob cost us $1,000 a month. He's on Ozempic. That's $12,000. We've got to raise your rate by 20%. You've got to pay us $15,000 to insure Joe Bob next year.
But they never paid the 15%. They paid a fraction of that. And then they do that on every drug. And then how many drugs is the average American on? Four or more. So imagine the amount of revenue being generated by these insurance companies by screwing me and you and families on these medications. They're literally printing money off of our chronic disease and illness.