About Flipt
Lots of employers with business pharmacy benefit contracts are shocked to discover the high prices of employee prescriptions. Aaron Greenblatt — CEO of his family’s business, G&W Laboratories — was one of them.
But unlike most, Aaron knew precisely what some of those drugs his employees needed should really cost because his own company manufactured them. The same prescription medications his employees helped develop and produce at G&W were being sold back to them through their PBM at massive mark-ups, as much as 6 times the sticker price.
What was happening between the factory and the pharmacy to explain such an increase? Where was all that money going?
Aaron soon found the answer lay in the unfair practices of major pharmacy benefit managers (PBMs). They sit between drug companies, employers, and employees and they don’t add enough value to justify their huge profits.
The Flipt Solution
Aaron pulled together a team to study the issue and do something about it. In 2018, they launched a new company, built from the ground-up as a fairer alternative to typical PBMs. Flipt brings together 100% pass-through pricing with a high-tech, high-touch user experience. With Flipt, there’s no mystery — businesses and employees both know exactly what they’re paying and why.
When it comes to your drug benefit contract, you and your employees really want the same thing. Fair prices. Transparency. Help whenever you need it. That’s what Flipt delivers.
Find out how getting Flipt will help your business.
Traditional pharmaceutical benefit managers (PBMS) act as middlemen in the supply chain, hiding real costs and reducing efficiency without adding much value.
Flipt takes the opposite approach: We get out of the way. We reveal the true costs of prescriptions and let the market work. Plus, we add value with our cutting-edge tech and exceptional customer experience.
Check out our PBM resources.
Our leadership team and board
Building a whole new way to offer business pharmacy benefits is a big task. But we pulled together people with the vision, experience, and drive to do the job.
Flipt has some of the brightest minds from the healthcare and technology industries — leaders with proven track records in health benefit management, pharmaceutical development, information technology, and customer service. Learn about the people who make Flipt work.
Flipt Executive Team
Aaron Greenblatt
Chief Executive Officer & Executive Chairman
• Founder of Flipt
• CEO of G&W Laboratories
After Aaron earned his Doctor of Pharmacy from the University of Maryland, he had no doubt that his life mission was to continue his family’s legacy to help people realize their potential. As CEO of G&W Laboratories, Aaron has re-energized the nearly century-old company to expand its ability to help those in need. He has led the company into new markets, extended its reach, diversified its product portfolio, grown its revenues dramatically, and built world-class teams — enabling G&W to touch the lives of more patients than ever. But after recognizing the lack of transparency and high costs in today’s healthcare landscape, he decided to lead the effort for further change. He wanted the market to reward innovation and value creation that improve the quality of life for everyone rather than value extraction, which benefits only a few in the short term and ultimately hurts us all. At Flipt, Aaron is determined to give people the choices and power they need to make medication decisions that impact their health and wellbeing, so that they too, can realize their potential.
Sanford Cockrell
EVP & Chief Financial Officer
Sandy joined Flipt from Deloitte, where he was the Global Leader of Deloitte’s CFO Program. He created and built the Program and its activities in 29 countries and all major regions, working directly with the CFOs of many of the world’s largest companies. He also served as the Global Leader of Deloitte’s CxO Programs, which includes the roles of the CEO, CIO, CLO, CMO, COO and CTO. Previously, Sandy was the Lead Partner of the New York office of Deloitte’s Special Acquisition Services group, where he provided direct M&A advisory services to one of the world’s leading alternative asset management firms, in numerous acquisition, disposition and restructuring transactions. Earlier in his career he served as the Lead Tax Partner on several of Deloitte’s largest global clients across multiple industries. He also served multiple terms on the firm’s US and Global Boards of Directors.
Amrish Goyal
Chief Operating Officer
• Former Director of Business, Marketing, and Operations at Amazon Flex
• Former General Manager of Sales and Marketing, Microsoft
While many leaders excel in just one field, Amrish is at his best taking on complex challenges that intersect the ever-changing worlds of technology, operations, and marketing. This is why he’s the perfect fit for Flipt, where he oversees customer business operations, including customer experience, product development, client implementation, and partner integrations. Amrish’s experience in strategy, marketing, customer acquisition, and operations proved integral to the success of several high-profile, rapid-scale projects at Microsoft and most recently in the launch of Amazon Flex, which redefined the operations behind the ultra-fast deliveries that arrive on customers’ doorsteps. With Amrish responsible for day-to-day decision-making and operations at Flipt, our corporate clients and their employees can rest assured that they have an advocate who will ensure they receive the highest quality service and exceed their expectations in the new age of modern prescription benefits.
Charles Simmons
SVP, Office of Executive Chairman
• VP of Corporate Development at G&W Labs
• Former President of Commercial Development and Operations at Idis Pharmaceuticals
Senior Mergers & Acquisitions Executive, Operations Leader and Financial Strategist. Formerly President Commercial Development and Operations at Idis Pharmaceuticals and part of the core leadership team that turned around and divested the company. Previously led Corporate Development at Mars, Inc., as SVP Corporate Development and Bristol-Myers Squibb Company as VP, Corporate Development.
Hemant Kumar
Chief Technology Officer
• Chief Information Officer, G&W Laboratories
• Former VP, Client Director (Strategic Life Science Accounts), HCL AXON
Hemant has successfully led and strengthened cutting-edge IT departments at companies large and small, including Teva Pharmaceuticals, HCL Axon, KCI Medical, and IBM. But what makes Hemant unique is that he pays as much attention to the practical, human use of IT as he does to the technology itself. He takes great pride in leading teams to make processes more efficient, to establish consistency across information systems, and to encourage partnership among people in various capacities. Naturally, Hemant’s personal and professional perspective of IT as a means to help solve problems and produce results aligns directly with Flipt’s mission to put ownership of prescription choices at a person’s fingertips literally with a thumb swipe on the Flipt App.
Thom Stambaugh
RPh, MBA Chief Pharmacy Officer, Flipt
• Former Vice President, Specialty Pharmacy, Cigna
• Former Director, Clinical Pharmacy, HealthsourceRx
As a pharmacist and Flipt’s Chief Pharmacy Officer, Thom helps our members get the right medication at the right place and the right time. Thom has more than 25 years in the pharmacy benefit management industry building specialty strategies, clinical programs, and value based partnerships between physicians and health systems. Throughout his career — working at Cigna’s PBM, ValueRx during their early days, Kroger’s retail pharmacies, and Children’s Medical Center of Ohio’s Poison Control Center — Thom has always believed in putting the patient at the center. He’s dedicated his career to helping ensure that people get affordable medications, a delightful customer experience, and better health outcomes.
Glenn Rzeszutko
SVP Finance
• Chief Underwriting Officer
Glenn brings over 30 years of financial experience to the team, working with our client facing teams to provide the full savings value possible and achieved through the Flipt solutions. He brings a unique perspective from his experience in insurance, PBM, and financial markets.
Shauna Vernal
General Counsel & Chief Compliance Officer
Shauna has previously served in the Chief Legal and Compliance officer roles for both public and private companies. In this role at Inovalon, Shauna assisted in the Company’s IPO and transition to a public company. Shauna also served in several key senior strategic positions within the legal depart of Microsoft, including as a Board Member of MSNBC, and has deep expertise in mergers and acquisitions
Tim Liebmann
Chief Commercial Officer
• Former Chief Operating Officer Healthcare, Fred’s Pharmacy
• Former Founder, Chairman and Chief Executive Officer, SUNRx
As Flipt’s Chief Commercial Officer, Tim leads our business development efforts across all businesses and our pharmacy network team. Tim has been in and around the pharmacy benefit management and Healthcare IT industries throughout his career. Tim brings a unique skill set of problem solving, technology, finance and healthcare to drive solutions, positive outcomes and lower costs.
Roger Mermelstein
Chief Growth Officer
• Former Chief Sales Officer at Innovation Health
• Former VP, National Accounts for Hanger, Inc.
An accomplished executive with a proven track record building high performing teams, Mr. Mermelstein is recognized across the healthcare industry for his ability to develop long-term client relationships built on trust and exceptional service. Prior to joining Flipt, Roger was the Chief Sales Officer at Innovation Health, a health plan jointly owned by Aetna and Inova, where he rebuilt the sales and service organization, with a focus on the commercial and Medicare segments. As Vice President, National Accounts for Hanger, Inc., the largest provider of orthotic and prosthetic services in the US, he led the sales and service organization in the health plan market segment. During his career, Roger has held positions of increasing responsibility at CAQH, Aetna, Aetna Dental, United Health Dental, and NYLCARE Health Plans.
George Riedl
Pharmacy Network and Strategic Alliances
Retail healthcare executive with over 35 years of experience leading pharmacy, managed care, merchandising, marketing and e-commerce teams. Most recently, George was President of Pharmacy, Health & Wellness for Walmart US. George also spent 27 years at Walgreens
Sue Scheid
Pharmaceutical Manufacturer Contracting
Sue is an executive in the PBM industry with deep experience representing some of the largest US payors, including Aetna and Prime Therapeutics. In her leadership roles in rebate contracting, Sue brings expertise to supply chain strategies and optimizing overall value, including value-based outcomes and building capabilities to execute strategies leading to better health outcomes and lower cost of care
Flipt Advisory Board
Scott Serota
Retired, Former President and CEO, Blue Cross Blue Shield Association (BCBSA)
Ron D. Sugar
Chairman Uber and Former Chairman and CEO Northop Grumman
- Grew Northrop Grumman into one of the world’s largest aerospace and defense companies.
- One of the most influential and notable leaders in the aerospace industry.
- Past chairman of the Aerospace Industries Association, and a fellow of both the American Institute of Aeronautics and Astronautics and the Royal Aeronautical Society.
- Currently Chairman of the Board at Uber, a director of Apple Inc., Amgen and Air Lease Corporation; lead director Chevron Corporation
Scott Serota
Retired, Former President and CEO, Blue Cross Blue Shield Association (BCBSA)
- Healthcare expert and retired executive with more than four decades of leadership experience
- Most recently President and CEO of the Blue Cross Blue Shield Association (BCBSA), a national federation of 36 Blue Cross and Blue Shield companies
- Founding member of the National Business Group on Health’s Institute on Healthcare Costs and Solutions, board member of Blue Cross Blue Shield of Michigan, and advisory board member of Paragon Biosciences, the Vistria Group, and the USC Schaeffer Center for Health Policy & Economics
B. Kevin Turner
Former Chief Operating Officer, Microsoft
- Former Microsoft Chief Operating Officer which led the company’s global sales, marketing and services organization of 70,000+ employees in more than 190 countries through the transition of Bill Gates, Steve Ballmer and Satya Nadella. Grew revenues from $39.7b in FY06 to $91.9b in FY16.
- Former Senior Executive, Wal-Mart Stores and President and CEO of SAM’S CLUB, a $37 billion division of Wal-Mart Stores. Engineered and led a complete turnaround of the Sam’s Club business.
- Currently serves as Vice Chairman of the Board at Albertsons Companies.
Charles M. Holley,Jr.
Former Executive Vice President and
Chief Financial Officer, Walmart
Leonard D. Schaeffer
Founding Chairman and Former CEO, WellPoint (now Anthem)
- Turned a near-bankrupt Blue Cross of California into what would become one of the nation’s largest health benefits companies; now on the Board of Walgreens.
- Established the Shaeffer Center for Health Policy and Economics at the University of Southern California (USC), to improve healthcare delivery and support evidence-based health policy.
- Currently Judge Maclay Widney Chair and Professor, Member of the National Academy of Medicine, and chair of the Roundtable on Quality Care for People with Serious Illness
Charles M. Holley, Jr.
Former Executive Vice President and Chief Financial Officer, Walmart
- Developed at Walmart a strong financial position while driving significant shareholder returns.
- Passionate about talent development and succession planning skills he brought to the finance function at Walmart.
- Currently a board member for Amgen, and serves as an independent senior advisor to the CFO Program at Deloitte.
Kathleen Murphy
Former President, Fidelity Personal Investing
- Led Fidelity Personal Investing, Fidelity’s largest business with over $4.2 Trillion in client assets, delivering 9 years of successive record results
- Nationally recognized speaker on digital transformation, women investing empowerment, and financial literacy, and was named as one of the 50 Most Powerful Women in Business by Fortune for 13 years
- Prior to Fidelity, served as CEO of ING Wealth Management, and has served on the board of the Financial Industry Regulatory Authority (FINRA) and the National Football Foundation
Flipt Blue Cross Blue Shield Advisory Board
Leonard D. Schaeffer
Founding Chairman and Former CEO, WellPoint (now Anthem)
- Turned a near-bankrupt Blue Cross of California into what would become one of the nation’s largest health benefits companies; now on the Board of Walgreens.
- Established the Shaeffer Center for Health Policy and Economics at the University of Southern California (USC), to improve healthcare delivery and support evidence-based health policy.
- Currently Judge Maclay Widney Chair and Professor, Member of the National Academy of Medicine, and chair of the Roundtable on Quality Care for People with Serious Illness
Brad Wilson
Former CEO Blue Cross Blue Shield NC
- Brad Wilson a passion for health care, a deep commitment to community involvement and expertise in business and public policy.
- As former president and CEO of NC’s largest health insurer, Wilson was dedicated to improving North Carolina’s health care system, making health care more affordable and helping BCBSNC adapt in a changing health care environment.
Perry Cohen
Former PBM executive (Aetna and Systemed)
- Perry has over 40 years of experience in managing pharmacy benefits
- He built the first Pharmacy Benefit Management (PBM) company for Aetna in the early 1990s
- He is a Co Founder, Past President and Fellow of the Academy of Managed Care Pharmacy
- Nationally recognized as helping create the PBM industry
John Thornton
Senior Consultant, The Pharmacy Group
- Prior National Pharmacy Director, Blue Cross Blue Shield Association, where he provided strategic pharmacy leadership to the Chief Pharmacy Officers at BlueCross & BlueShield Plans through the National Council of Physician & Pharmacist Executives
- Previous Academy of Managed Care Pharmacy as the Managing Director of Pharmacy Affairs
Flipt Pharmaceutical Manufacturer Advisory Board
Perry Cohen
Former PBM executive (Aetna and Systemed)
- Perry has over 40 years of experience in managing pharmacy benefits
- He built the first Pharmacy Benefit Management (PBM) company for Aetna in the early 1990s
- He is a Co Founder, Past President and Fellow of the Academy of Managed Care Pharmacy
- Nationally recognized as helping create the PBM industry
Jeff Berkowitz
CEO, Real Endpoints
Mr. Berkowitz is one of the rare top executives whose career has spanned most key verticals in global healthcare — with executive committee and other senior roles at United Health Group, Walgreens Boots Alliance (formerly Walgreens), Merck and Schering-Plough.
He joined RE from UnitedHealth Group/Optum where he led Optum’s International division as CEO while also driving key strategic initiatives within Optum’s pharmacy benefits management division. Prior to joining United, Mr. Berkowitz served as President of Pharma and Global Market Access at the Walgreens Boots Alliance, responsible for generic and branded procurement, inventory management, relationships with pharmaceutical companies as well as the companies pricing and reimbursement strategies with all payors and payor segments. Mr. Berkowitz also had responsibility for the specialty pharmacy business with over $10 billion in revenue and 5,800 employees.
Mr. Berkowitz joined Walgreens from Merck & Co., where, as SVP of global market access, he was accountable for all access, pricing, payer marketing, health outcomes and health technology assessments worldwide. Mr. Berkowitz had held a similar position at Schering-Plough, where he started as legal director for Schering-Plough’s managed care and commercial group in 1998. Before joining Schering, Mr. Berkowitz was a healthcare attorney for the international law firm Proskauer LLP in New York and Washington, D.C.
Mr. Berkowitz earned his bachelor’s degree in political science from Union College in Schenectady, N.Y., and his Juris Doctor from Brooklyn Law School in Brooklyn, N.Y. He has been recognized three times in PharmaVoice magazine as one of the 100 Most Inspiring Leaders in the Life Sciences in 2009, 2010 and 2012 and is the recipient of PharmaVoice’s inaugural Red Jacket recognition.
Mr. Berkowitz serves on the board of directors of H. Lundbeck A/S, Esperion Therapeutics, Inc., and Zealand Pharmaceuticals, Inc. Berkowitz also serves as an Editorial Advisor to Life Science Leader and Pharmaceutical Commerce magazines and served on the Board of Directors of the Swiss-American Chamber of Commerce.
Sue Scheid
Pharmaceutical Manufacturer Contracting
Sue is an executive in the PBM industry with deep experience representing some of the largest US payors, including Aetna and Prime Therapeutics. In her leadership roles in rebate contracting, Sue brings expertise to supply chain strategies and optimizing overall value, including value-based outcomes and building capabilities to execute strategies leading to better health outcomes and lower cost of care
Steve Stefano
Former pharmaceutical company executive (GSK)