At the Fierce Health Payer Summit, industry leaders discussed the future of pharmacy benefit management (PBM) and the challenges of prior authorization. Experts highlighted the need for technology to reduce administrative burdens on patients and providers, while emphasizing a shift towards value-based care to improve healthcare outcomes and efficiency. Former HHS Secretary Alex Azar advocated for stable government partnerships to support these initiatives.
At the Fierce Health Payer Summit, former HHS Secretary Alex Azar expressed optimism about Medicare Advantage (MA) while criticizing the Biden administration's impact on the program. He highlighted the successes of value-based care models and argued against a recent MedPAC report that claimed MA costs more than Medicare fee-for-service, attributing current challenges to detrimental cuts and a post-pandemic utilization spike. Azar anticipates a shift towards MA as payers adapt to changes from the Inflation Reduction Act, which he believes will accelerate MA membership growth.
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