SKB85

Working to make a positive impact in the healthcare industry

[SKB85 @SamitBhatt]

@huel where it belongs. I want a refund. This stuff taste awful.

[SKB85 @SamitBhatt]

50% of drug spend is in specialty. This spend services like 5% of patients. What is your plan to dispense specialty meds and provide transparent rates to payers and provide care to patients needing specialized care. Do you have plans of how your model can reduce the spend on specialty drugs? Even drugs that aren’t rebated a lot (I.e novel oncology drugs).

[SKB85 @SamitBhatt]

Oncology is a protected class and there are no competitors. There are DEFINITELY NO rebates on this to commercial PBMs. The rebates are statuary discounts to Medicaid, 340B, VA/DOD, and part D. That’s it. There is no reason for RevMed to rebate when they are the only drug - a lot of first in class oncology drugs are like this. So the sticker price is the price for a lot of patients (their out of pocket will be lower) but employers and others will pay this price. I am not saying that’s it’s too high or too low - it’s and amazing drug but just wanted to clarify that from my experience, there definitely isn’t rebating going on.

[SKB85 @SamitBhatt]

@PatMcAfeeShow @DariusJButler If the RAMs don’t win the Super Bowl - they are a failure since they bought their way in. I hope they lose

[SKB85 @SamitBhatt]

$rvmd has a high net revenue because they cut all the middle men out. They won’t let hospitals buy drug or physician practices to let them dispense. It is going to two channels - onco360 and Biologics. Because of their clinical power and efficacy, they are going down the most cost effective and restrictive channels. There will be NO payer rebate or PBMs getting anything here. The concessions are 340B, and government statutory rebates. @adamfeuerstein @mcuban

[SKB85 @SamitBhatt]

@mcuban @mcuban some docs have preferences for certain implants or trained with certain ones. Would you say the same thing about drugs?

[SKB85 @SamitBhatt]

@Jason @bryan_johnson We should also look at how many hands get blown up and add to healthcare costs. My hand surgeon friends in the hospital all day all night.

[SKB85 @SamitBhatt]

@mcuban Hospitals would never agree to 100% Medicare rates. Why would they give up 200,300,400%+ or sometimes % of billable charges which is whatever they want…they are mad about the 340B rule from Medicare part B when sometimes they are buying drug for pennies

[SKB85 @SamitBhatt]

@matttoresco52 @CHN_AdamWodon @mcuban Medicare has the most cost effective rates in the country. Share math on why it isn’t

[SKB85 @SamitBhatt]

@mcuban Get rid of deductibles and copays but cap reimbursement to 125% of Medicare or X percentage. Everyone would say what? Would hospitals agree? Not sure

[SKB85 @SamitBhatt]

@mcuban @AbdulElSayed They can’t - 340B gone.

[SKB85 @SamitBhatt]

@mcuban Not 100% true. Oncology drugs aren’t really rebated. Plans cover NCCN guidelines (like United) that are broader than the FDA label.

[SKB85 @SamitBhatt]

@elonmusk @SawyerMerritt @Starlink @elonmusk Why did @AmericanAir use AT&T and not Starlink. Starlink is so much better 😞

[SKB85 @SamitBhatt]

@mcuban @costanza_crypto Why not start with the government to POST the current 340B discount and price institutions get. Then look at the chargemaster. Institutions know exactly what their costs are and what they charge insurers for buy-bill drugs.

[SKB85 @SamitBhatt]

@LeftyWinter @AOC Dirty secret is all the hospitals would collapse relying on Medicare reimbursement. Commercial reimbursement is like 2-3x Medicare, even for drugs that are administered in the hospital. If you go to Medicare4all…rates would have to be adjusted otherwise collapse @mcuban

[SKB85 @SamitBhatt]

@bradloncar @iamtheyemi How long does it take to update to show up on your boarding pass.

[SKB85 @SamitBhatt]

@A_Ciaccia @BeckersHR @mcuban Also little known fact…PBMs do not control any of these medical benefit or buy-bill drugs. Half of drug spend sits on this side. If the gov mandated rates closer to
Medicare, which is 6% for commercial plans, it would be too big to fail. Doesn’t even account for 340B.

[SKB85 @SamitBhatt]

@mcuban @costplusdrugs The PBM buddies don’t really block oncology drugs Mark. Look at UNH oncology guidelines and coverage policy. It covers beyond the label including NCCN guidelines. Biosimilars don’t count.

[SKB85 @SamitBhatt]

@mcuban @mcuban do all of your small transparent PBMs have their own trade group or do they still rely on the PBM GPO organizations for rebates.

[SKB85 @SamitBhatt]

@semodough Will have a better label than Eylea HD and the pie is big enough for the company to be profitable