It’s a tough time to be a pharmacy benefit manager.

Long considered the industry’s middlemen, these entities have largely flown under the radar as patients and lawmakers lashed out at insurers, drugmakers and hospitals for the rising cost of healthcare in this country.

However, that narrative has started to change over the past year. Starting with a congressional hearing featuring several PBM leaders last spring, both lawmakers and pharmaceutical companies have claimed PBMs bear much of the responsibility for high prescription drug prices.

The attacks have come on multiple fronts. The Pharmaceutical Research and Manufacturers of America (PhRMA) released a series of ads as part of a multimillion-dollar campaign accusing PBMs of getting between doctors and their patients. Meanwhile, Senate and House leaders drafted legislation that would impose reform on the industry, including a bill that was advanced out of a House panel in February.

Earlier this month, the White House held a roundtable on PBMs featuring Federal Trade Commission Chair Lina Khan, billionaire entrepreneur Mark Cuban and Kentucky Governor Andy Beshear.

So why did NYCFC, a Major League Soccer team, partner with a PBM just last month?

According to Andres Gonzalez, VP of partnerships at NYCFC, the multi-year collaboration with Capital Rx, a New York-based PBM, goes deeper than just a logo on a jersey.

Capital Rx’s logo will be featured on the right sleeve of NYCFC’s First Team kits as well as across Yankee Stadium and Citi Field during home matches. Capital Rx will also work with the club to support the nonprofit City in the Community and join an ongoing New York City Soccer Initiative to build 26 mini-soccer pitches throughout the city ahead of the 2026 FIFA World Cup, which will be held at nearby MetLife Stadium. 

“This came about from sitting down with Capital Rx leadership, understanding their business needs and trying to come up with a plan for a broader platform that achieves some of those B2B goals,” Gonzalez said. “The platform does provide brand awareness and increase visibility for the brand.”

Gonzalez said that NYCFC’s primary goal is to win championships but noted that the organization as a whole seeks to empower and better the lives of its fans through soccer. He added that there was “mission alignment,” heralding Capital Rx’s efforts to create greater transparency in the healthcare industry. 

A PBM responds to criticisms

In the divide between the legacy PBMs and the newer breed of PBMs, Michael Passanante, SVP of marketing at Capital Rx, said he sees his company on the right side of history.

He rejected the idea that PBMs should be wholly eliminated from the industry, noting that while the business practices of other PBMs has put the class under the microscope, they do serve a key function ensuring that people get their pharmacy benefits and see their costs lowered.

“If you provide visibility around drug pricing, if you pass the rebates through to the employers and you take a fair and reasonable fee for the service that you’re providing around administration, then you can be a valuable partner to employers. That’s our position on it,” he said. 

A press release explicitly mentions that the partnership will provide Capital Rx with a larger platform as it works to “bring transparency to the pharmaceutical supply chain and lower costs” for employers, municipalities and health plans offering pharmacy benefit programs. Passanante said the company aims to achieve this goal through its investments in technology — specifically its Judi platform, which offers back-end claims processing. 

The partnership was announced a few months after the PBM raised $50 million in a strategic investment round backed by several major provider organizations, including Atlantic Health System, Memorial Hermann Health System and Ochsner Health.

Capital Rx plans to use the funding from that round for Judi’s research and development as well as bolstering its pharmacy adjudication capabilities.

The only way PBMs can make money is through efficient work, Passanante said, unless they embrace spread pricing and other “bad behaviors.” Going forward, he said the company is committed to providing these services to patients and employers in a more cost-efficient way.