Senior Vice President & Chief Financial Officer
Navitus' zero spread, full pass-through business model drew Pete Beste, Senior Vice President and Chief Financial Officer, to the company in 2005. Having worked at a traditional PBM, he appreciates and sees how the full pass-through of savings benefits the plan sponsor and the member. Beste’s role at Navitus includes balancing day-to-day financial responsibilities with helping to determine the organization’s strategic direction. He provides leadership and oversight to the company’s accounting and finance, human resources and analytics functions. Beste ensures the company delivers the lowest net cost for plan sponsors and sets the strategy to attract and retain exceptional employee talent. His financial responsibilities include budgeting, forecasting, financial reporting, capital planning, payroll and cash flows. Beste also provides direction to Navitus’ Analytics department, which is responsible for providing actionable business intelligence to Navitus and its clients. Prior to joining Navitus, Beste was Vice President and Controller with Lands’ End, where he played a key role in the purchase and integration of Lands’ End into Sears. Before this, Beste was Vice President and Controller with ProVantage Health Services. Later when Medco Health Solutions purchased the company, Beste helped integrate the operations. Earlier in his career, he specialized in public company audits at Deloitte. Beste is a graduate of the University of Wisconsin-Madison and a Certified Public Accountant in the state of Wisconsin.
As a steward of client drug spend, Beste deems his diligent oversight of Navitus’ full pass-through model to be his key contribution to Navitus’ vision and growth. “We make sure everything is passed back in full to our clients,” he said. “In fact, clients don’t have to wait until their contract renewal to receive improved pricing. Navitus passes these discounts through to the client immediately.