Our 2025 Pharmacy Benefits Conference was our spiciest event of the year and if you missed it, do not fear - we’ve got resources and a full recap of the sessions below! Photos from the event and speaker presentations are available on the other tabs above.
GLP-1s, Gene Therapies & the New Math of Affordability: This session focused on the most significant drivers of pharmacy spend: GLP-1s and gene therapies. Panelists Ashley Hume (Emerging Therapy Solutions), Kirby Eng (OutcomeRx), and Jonathan Koval (Transcarent), moderated by Eileen O. Pincay (Segal), examined cost pressures, employer strategies, and approaches like stop-loss and reinsurance.
Formularies and Failures: What Are We Really Paying For?: Andy Gregg of Prudential described how his team restructured their formulary to gain more control and reduce costs. Experts Catalina Gorla (TruDataRx), Jim Arnold (finHealth), and Ryan Czado (Razormetrics) explained how formularies are built, where incentives can misalign, and how employers can redesign benefits around value.
Then we moved to breakout sessions and had three great options to choose from:

The Rebate Mirage: Are You Saving Money or Losing Control?
Sara King (Ethica Pharmacy Advisors) clarified what rebates are, how they flow through the system, and how they affect value. She broke down the rebate chain and showed how employers can evaluate the impact of rebate guarantees.
GLP-1s + Behavior Change: Making Weight Loss Drugs Work
Charles Smith (Aon) and Jason Parrott (Vida Health) emphasized that clinical outcomes improve when GLP-1s are combined with nutrition, coaching, and mental health support. Employers heard data on larger A1c drops, reductions in comorbid medication use, and strategies for evaluating coverage models.
Seeing the Full Picture: PBMs, Consultants, and What to Ask
This session looked at contracts, terms, and what is hiding beneath the surface when employers don’t ask their PBMs to provide the full picture so they can do their fiduciary duty. Will Bifulco (DC37) which is responsible for ~250,000 lives brought the formulary in-house and doesn’t play with rebates, Christine Burke Worthen (Epstein Becker Green) walked through the contract terms and legal rights of employers to get the information they need to make value-based decisions, and Josh Van Ginkel (Pharmaceutical Strategies Group) shed light on what is below the surface of this complex ecosystem.



Back after the lunch, audience favorite, Josh Golden from CapitalRx presented on profit models across the PBM supply chain, showing how spread pricing, rebate structures, and mail vs. retail dynamics shape employer costs. He contrasted “old-world” RFPs with emerging procurement approaches that emphasize transparency and modular contracting. As one employer noted, “It was eye-opening; it is the questions you didn't realize you should be asking."
We repeated our breakouts after lunch and closed the day back in the main room with a special session on Managing the Specialty Drug Pipeline: A Data-Driven Clinical Approach with Pharmaceutical Strategies Group that gave concrete solutions to anticipate emerging therapies, forecast budget impacts, and apply clinical strategies.

RESOURCE ROUND-UP
Our worksheets allowed employers to leave with actionable strategies across the day, and we’ve compiled all the resources and presentations as well as information from our sponsors.
Don’t forget to check out the photos, post your thoughts on LinkedIn, tag @NEBGH and if you attended, let us know what you thought of the day!

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Inside the Black Box: Aligning Incentives Across the Pharmacy Ecosystem

Breakout A: The Rebate Mirage: Are You Saving Money or Losing Control?
This tactical session unpacks how rebate guarantees, GPO deals, and pass-through arrangements can obscure the true cost of your pharmacy spend. We’ll break down how rebate mechanics shape formulary design, what employers are earning (or losing) on rebates, and what audit, RFP, or renegotiation strategies you can use to regain transparency.

Breakout B: GLP-1s + Behavior Change: Making Weight Loss Drugs Work
GLP-1s are dominating headlines—and your pharmacy budget. But how do you cover these high-cost drugs responsibly? This session delivers practical tools for integrating GLP-1 coverage with behavioral and lifestyle supports, from BMI-based guardrails to coaching models and clinical adherence programs. Learn how to strike the right balance between access, outcomes, and cost.


Breakout C: Seeing the Full Picture: PBMs, Consultants, and What to Ask
Pharmacy benefit decisions involve a complex network of players—including PBMs, consultants, and coalitions. This session helps employers identify where incentives may be misaligned, what questions to ask, and how to ensure transparency and accountability—without pointing fingers. You'll leave with practical tools to manage fiduciary responsibilities and strengthen your pharmacy strategy.



Managing the Specialty Drug Pipeline: A Data-Driven Clinical Approach
Specialty drugs continue to dominate pharmacy spend and complicate benefit decisions. Grounded in employer perspective market research and real-world data, this session shows how to translate pipeline intelligence into action. Learn how employers can anticipate emerging therapies, forecast budget impact, and apply clinical strategies that balance affordability with outcomes.

