Making Drugs More Affordable with Paul Markovich (Encore Episode)

This week, we close out our three-part series on rethinking drug access and costs with a must-listen encore episode. After detailing the scope of the drug price crisis with Mark Cuban and how we can re-purpose drugs to treat rare illnesses with David Fajgenbaum, we turn to a leader who is actively changing the dynamic: Paul Markovich. Now the CEO of Ascendiun (the parent company of Blue Shield of California), Paul argues that healthcare affordability isn't just a patient pocketbook issue - it’s a massive economic crisis for the nation.

In this episode, Paul and Claudia discuss:

• His conviction that reducing healthcare costs is essential to averting a national fiscal crisis
• The upside-down economics that make PBMs reject cheaper drug prices
• Paul’s candid advice on what it takes to be a courageous leader in a dysfunctional system

Paul Markovich challenges healthcare leaders to shift from explaining high costs to being accountable for lowering them:

“Almost everybody in the entire value chain, whether it's health plans or hospitals or all the way through, they want to explain why healthcare is so expensive and why there's this inflation rate as if that absolves them of any responsibility to make it different. And so, what I really want is accountability, and a level of accountability that doesn't exist yet in our industry, to say, 'Hey, we own this' ".

Relevant Links

Part 1: Listen to our episode “New Life for Old Drug with David Fajgenbaum”

Part 2: Listen to our episode “Lessons in Disruption with Mark Cuban”

Rethinking how Americans get affordable medications

California’s new PBM reform law

About Our Guest

Paul Markovich is president and chief executive office of Ascendiun, a nonprofit corporate entity as part of the new parent to the family of organizations that includes Blue Shield of California.

Paul Markovich was president and chief executive officer at Blue Shield of California, a nonprofit health plan with $25 billion in annual revenue, serving 6 million members in the state's commercial, individual, and government markets. Paul launched and led numerous initiatives to drive innovation and help reimagine health care, including funding support for a statewide provider directory to make it easier for Californians to find physicians and facilities in their plan; supporting the 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.

At Blue Shield, Paul previously served as chief operating officer (responsible for healthcare services, network management, e-business, marketing, product development, and customer operations). He was senior vice president of the large group and CalPERS business units. He led the company’s product development unit, introducing numerous products and services such as the first California Health Maintenance Organization to allow self-referrals to specialists and...