Email our team at insights@benefitsally.com

Capital Rx

Friday, February 11, 2022

We've built our company & culture around challenging the status quo disruption of the PBM industry with 21st-century technology, creating an ethical pricing framework for prescriptions, and delivering service that goes above & beyond what’s expected.

Transcription:

What is Capital Rx?

Capital Rx was founded about five years ago to bring radical transparency to the pharmacy benefit marketplace and really change the way that prescription drugs are priced and administered in the US. So the company is operating as a PBM: Pharmacy Benefit Manager, and a PBA: Pharmacy Benefits Administrator, but we're very much a health tech company since software is at the core of our ability to deliver the lower cost, better outcomes, and much higher satisfaction levels for plans and members. So as a result, we remain the fastest growing PBM in the US. We have about 400 employees nationwide and expect to have well over a million lives under management by the end of this year.

How is Capital Rx different?

The company was built on being different in every way possible. Our founders are a mix of very frustrated former consultants and pharmacy benefit experts who were frankly fed up with the status quo and they were determined to change the industry by focusing on three core pillars. The first pillar is alignment and having a business model that really brings radical transparency to our plan's sponsors, and having the right financial framework in place. So we have a cost-plus model. We utilize and leverage the NADAC price index and we provide complete visibility to ensure that every cent of value is going back to our plan sponsors and members. The next pillar is service. I think it's safe to say that we're completely obsessed with client and member satisfaction. We currently maintain a 96 net promoter score which we track very closely. And the account management structure is unique in that every single client has a registered pharmacist as their day-to-day account leader. And then beyond that, we have a call center that has well over a hundred people. They're all Capital Rx employees and it takes about 10 seconds to speak with one of those reps, 13 seconds to speak with a pharmacist if that is what the member needs. And then the final pillar is innovation. So we have our own cloud-based modern platform called JUDI, and then we continue to innovate and develop other products that the market demands like the discount card and other PAP solutions.

Who is a good fit for Capital Rx?

Really any self-funded entity or health plan, who is sick and tired of the status quo, and the same old promises from the legacy PBMs, claiming 20 to 40% savings. So we're here to help and happy to provide a free quote anytime.