The Big Squeeze with Paul Markovich
There’s a lot of hand wringing 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 cost
- Why reducing healthcare costs is critical to averting a national economic crisis
- Whether we need a new national mandate for health data sharing
- Paul’s advice on tackling fear and being a brave leader
Paul 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 Links
California’s new data sharing law
Announcement of new Humira biosimilar
Investment in nonprodit Civica for lower cost generics
New prior authorization platform with Salesforce
About Our Guest
Paul 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.
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