June 14, 2018 – Abarca, a pharmacy benefit manager (PBM) that is disrupting the industry with an entirely new approach to technology and business practices, today announced that its CEO Jason Borschow has been recognized with an EY Entrepreneur of the Year® 2018 Award in the Florida region.
Jason Borschow founded Abarca Health shortly after graduating from Harvard University with the goal of tackling a fundamental challenge in healthcare: Pharmaceuticals cost too much, members deserve a much better experience, and the big companies that dominate the industry are more focused on profits than patients. Jason threw away the PBM playbook and committed to building something member-focused and technology-driven, using straightforward, transparent business practices.
To make his vision a reality, Jason recruited talent from across the country who shared his energy, fearlessness, and vision for healthcare, including clinicians, software engineers, and people with a deep understanding of the pharmaceutical supply chain. With an in-house, San Juan-based team of software engineers, Abarca designed a better technology platform and large health plans saw the value right away.
“Being recognized with an EY Entrepreneur of the Year Award is an incredible honor made possible by our deeply committed team and our clients who believe in us,” said Borschow. “But what makes me particularly proud is how we have found bold new ways to improve the healthcare experience for millions of families. And we are just getting started.”
Today, Abarca manages more than $1 billion in drug costs for millions of people with levels of client and member satisfaction that are unheard of for a PBM. The company has announced innovative agreements with drug manufacturers that shift risk from payers and patients to the manufacturers and will be announcing significant partnerships in the coming months.
Now in its 32nd year, the program has expanded to recognize business leaders in more than 145 cities in more than 60 countries throughout the world.