Full-Time
Confirmed live in the last 24 hours
Pharmacy benefit management with transparent pricing
Senior, Expert
Remote in USA
Applicants must be based in one of the following states: Arkansas, Arizona, California, Colorado, Florida, Georgia, Kansas, Minnesota, Missouri, Nevada, Ohio, Pennsylvania, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.
You match the following SmithRx's candidate preferences
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SmithRx operates as a Pharmacy Benefit Manager (PBM) that focuses on managing prescription drug plans for self-insured employers and plan sponsors. The company uses a transparent pricing model called "Pass Through Pricing," where it charges only an administrative fee and passes all rebates from prescriptions directly to clients and their members. This model contrasts with traditional PBMs that often inflate drug prices and retain rebates for profit. SmithRx's clients benefit from a technology platform that utilizes real-time data to improve service delivery, ensuring efficient and high-quality pharmacy benefit management. The company also provides a concierge service to enhance support for both members and clients. SmithRx aims to simplify pharmacy benefits while maximizing value for its clients through transparency, advanced technology, and exceptional customer service.
Company Size
201-500
Company Stage
Series C
Total Funding
$94.8M
Headquarters
San Francisco, California
Founded
2016
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Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
Unlimited Paid Time Off
Paid Holidays
Wellness Program
Commuter Benefits
Parental Leave
Mental Health Support
Professional Development Budget
SmithRx introduces new PBM Evaluation methodology optimized for drug cost savings.
WASHINGTON, April 9, 2024 /PRNewswire/ -- Banjo Health, an innovative provider of intelligent prior authorization software, is excited to announce its partnership with SmithRx, a transparent and 100% pass-through pharmacy benefits manager (PBM). This partnership aims to improve timeliness, transparency, and reliability in SmithRx's prior authorization (PA) workflows & medical policy management."At Banjo Health, we are passionate about providing solutions at the intersection of Cost and Quality. SmithRx takes a unique approach using technology to provide its members optimal care at the lowest possible cost. We are thrilled to partner with such a forward-thinking group," remarks Saar Mahna, CEO of Banjo Health.SmithRx went live with Banjo Health's BanjoPA and Composer solutions in November. Key benefits include:Supercharge Medical Policy Operations: Leveraging Generative AI with Composer to help SmithRx manage their clinical policies more effectively.Streamlined PA Review: Utilizing BanjoPA, SmithRx is able to provide its members and prescribers with faster PA response times.Utilizing BanjoPA, SmithRx is able to provide its members and prescribers with faster PA response times. Minimized Provider Abrasion: Utilizing Composer, SmithRx is able to have its providers answering the most up to date question sets for ePA and automate PA intake from fax.Utilizing Composer, SmithRx is able to have its providers answering the most up to date question sets for ePA and automate PA intake from fax
SmithRx closes USD 60M Series C funding.
SAN FRANCISCO--(BUSINESS WIRE)--SmithRx, a next-generation pharmacy benefits management (PBM) company, closed a $60M Series C financing round — building on the company’s $20M Series B round raised in 2022. Led by top Silicon Valley healthcare venture capital firm Venrock, the latest funding positions SmithRx to continue reducing costs of pharmacy benefits for small and midsize self-insured businesses. “Medications in the U.S. cost too much because the overall system is broken,” said Jake Frenz, founder and CEO of SmithRx. “At the core of this broken system are pharmacy benefit managers that drive up the costs. As a result, Americans can’t afford the drugs they need
"SmithRx has partnered with Cost Plus Drugs because they share our commitment to delivering effective, lower-cost drugs to patients who need them.