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Full-Time

Adjudication Analyst

Posted on 10/22/2024

SmithRx

SmithRx

201-500 employees

Pharmacy benefit management with transparent pricing

Enterprise Software
Healthcare

Junior, Mid

Remote in USA

Category
Supply Chain Management
Operations & Logistics
Required Skills
SQL
Postgres
Data Analysis
Excel/Numbers/Sheets
Requirements
  • Bachelor’s degree or equivalent experience preferred
  • At least 2+ years of claims processing, medical billing, healthcare benefits, pharmacy benefits, and/or commercial health insurance experience required
  • EDI experience preferred
  • Intermediate skill in SQL (preferably PostgreSQL) preferred
  • Intermediate skill in Microsoft Excel required
  • Robust analytical skills, ability to think critically about data
  • Curiosity and excitement to learn deeply about pharmacy adjudication under the guidance of industry-leading experts
  • Strong communication skills, both in-person and written
  • Self-starter mentality: ability to make informed decisions, find creative approaches to difficult challenges, and deliver on commitments
  • Execution-focused ethos - you are a solutions-oriented problem solver and efficiency driven
  • Flexible, adaptable, and able to respond under the pressure of a fast-paced technology company
Responsibilities
  • Serve as customer support to internal stakeholders to provide front-line technical and analytical resolution on the SmithRx adjudication platform and all of its components for (1) eligibility, (2) plan design, (3) claims adjudication and (4) accumulator data file exchange.
  • Address planned and unplanned escalation issues related to adjudicated claims and data sharing inquiries submitted by our internal business partners.
  • Perform troubleshooting of all mission-critical adjudication issues to triage and resolve issues in a timely manner.
  • Perform in depth analysis of claims data inconsistencies and develop output reports detailing resolution and data validation
  • Partner closely with our Plan Operations and Account Management organizations to ensure that all of their data-related needs are met
  • Collaborate with business partners and engineering to create streamlined processes for customer issue resolution
  • Conduct User Acceptance Testing on software solutions and enhancements

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. By prioritizing transparency, advanced technology, and exceptional customer service, SmithRx aims to simplify pharmacy benefits and maximize value for its clients.

Company Stage

Series C

Total Funding

$98.7M

Headquarters

San Francisco, California

Founded

2016

Growth & Insights
Headcount

6 month growth

9%

1 year growth

30%

2 year growth

232%
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Simplify's Take

What believers are saying

  • SmithRx's recent $60M Series C funding led by Venrock positions the company for significant growth and innovation in the PBM market.
  • The partnership with Banjo Health to revolutionize prior authorization processes demonstrates SmithRx's commitment to leveraging cutting-edge technology for improved efficiency and transparency.
  • SmithRx's collaboration with TheracosBio to offer newly approved diabetes drugs highlights its dedication to providing cost-effective and essential medications to its members.

What critics are saying

  • The PBM market is highly competitive, and SmithRx must continuously innovate to maintain its unique value proposition.
  • Reliance on the 'Pass Through Pricing' model may limit revenue growth compared to traditional PBMs that profit from rebates and hidden fees.

What makes SmithRx unique

  • SmithRx's 'Pass Through Pricing' model ensures complete transparency by passing 100% of rebates to clients, unlike traditional PBMs that profit from hidden fees and inflated drug prices.
  • The company's robust technology platform leverages real-time data to enhance service offerings, setting it apart from competitors who may rely on outdated systems.
  • SmithRx's concierge service provides exceptional support to both members and customers, further distinguishing it from other PBMs that may lack personalized customer care.

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