The Big Squeeze with Paul Markovich

There’s a lot of concern right now about healthcare affordability, but not enough action. Paul Markovich, the CEO of Blue Shield of California, is on a mission to bring down health costs by reducing administrative overhead and negotiating lower drug prices. In this episode we dive deep into Paul’s call to action for healthcare leaders to tackle the affordability crisis head-on. Paul and I discuss:How Blue Shield slashed the cost of arthritis drug Humira, by offering a biosimilar at 25% of the costWhy reducing healthcare  costs is critical to averting a national economic crisisWhether we need a new national mandate for health data sharingPaul’s advice on tackling fear and being a brave leaderPaul says healthcare affordability isn't just a pocketbook issues for patients, it’s also a huge economic issue for the nation:“The reality is we are facing a huge affordability crisis, a fiscal crisis right now. Even though our economy is running pretty much at or near full employment, we have record fiscal deficits… We cannot keep spending on this program the way that we are. We need to bring the spending down... Even our dysfunctional political system is going to have to deal with that.”Relevant LinksCalifornia’s new data sharing law Announcement of new Humira biosimilar Investment in nonprodit Civica for lower cost genericsNew prior authorization platform with SalesforceAbout Our GuestPaul Markovich is Chief Executive Officer of Blue Shield of California, a nonprofit health plan with $25 billion in annual revenue serving 4.8 million members in the state's commercial, individual, and government markets. Markovich has launched and led numerous initiatives to drive innovation and help reimagine healthcare, including funding support for a statewide provider directory to make it easier for Californians to find physicians and facilities in their plan; supporting development of a statewide health information network for patients’ records, enabling more seamless and holistic care; and investing in a partnership with the California Medical Association to help physicians pilot new care delivery models and leverage technology.Markovich is a North Dakota native and Rhodes Scholar with a master’s in Philosophy, Politics and Economics from Oxford University. He is a graduate of Colorado College, where he earned a Bachelor of Arts in International Political Economy and played Division I hockey.Source: https://www.blueshieldca.com/en/home/about-blue-shield/corporate-information/leadership/paul-markovichStay InformedSign up for The Other 80 Newsletter to receive a monthly update with reflections, news, events, jobs and funding curated for you by Claudia. Click here to sign up.Connect With...