Full-Time
Posted on 9/11/2025
PBM offering pass-through pricing model
No salary listed
Washington, USA + 26 more
More locations: Kansas, USA | Pennsylvania, USA | California, USA | Texas, USA | Jackson Township, NJ, USA | Florida, USA | Waterbury, CT, USA | Nevada, USA | South Carolina, USA | Georgia, USA | Arizona, USA | Tennessee, USA | Virginia, USA | Arkansas, USA | Minnesota, USA | Colorado, USA | Utah, USA | Kentucky, USA | New York, NY, USA | Wisconsin, USA | Massachusetts, USA | North Carolina, USA | Oklahoma, USA | Missouri, USA | Ohio, USA | Indiana, USA
Remote
Applicants must be based in one of the following states: Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Indiana, Kansas, Kentucky, Massachusetts, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin.
SmithRx operates in healthcare as a Pharmacy Benefit Manager (PBM) in San Francisco, managing prescription drug plans for self-insured employers and plan sponsors. It uses Pass Through Pricing: charging only an administrative fee and passing 100% of rebates to the plan sponsors and members. A real-time data–driven technology platform supports service delivery, enhancing transparency and efficiency. Revenue comes solely from admin fees, eliminating rebates-based conflicts of interest. A concierge service provides strong support to both members and clients. The goal is to offer transparent, cost-effective pharmacy benefits with excellent customer service, using technology to maximize value for clients and their members.
Company Size
501-1,000
Company Stage
Series C
Total Funding
$97.5M
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
UnitedAg partners with SmithRx to modernize pharmacy benefits at scale. SmithRx, a modern pharmacy benefits manager (PBM), today announced a new partnership with UnitedAg, a member-owned agricultural trade association and health plan Trust. This collaboration will provide UnitedAg's 1,200+ agricultural entities comprising over 55,000 members with a fiduciary-aligned, transparent, and more affordable pharmacy benefits solution. By partnering with SmithRx, UnitedAg is moving beyond a pass-through PBM model to embrace a solution built on radical transparency. SmithRx's platform gives clients full visibility into pharmacy spend and ensures every dollar saved goes directly back to employers and their employees. This approach empowers employers to take control of their benefits costs while offering employees the lowest-cost medications with unmatched clarity and care. "SmithRx is thrilled to partner with a forward-thinking organization like UnitedAg that shares our commitment to bring clarity and fairness to healthcare," said Jake Frenz, founder and CEO of SmithRx. "This partnership is a testament to the growing demand for a different kind of PBM - one that prioritizes people and provides real savings while delivering an exceptional member experience." "SmithRx's innovative model will not only help us manage our costs more effectively but, more importantly, will empower our members to make better decisions about their health," said Kirti Mutatkar, President and CEO of UnitedAg. "Our members are our most valuable asset, and we are dedicated to providing them with the best possible benefits." UnitedAg members now have access to the SmithRx platform, which empowers them with clear pricing and access to the lowest-cost medications. The platform's technology, including AI-driven efficiencies, delivers an award-winning member experience. This collaboration brings significant value to the plan by uniting a focus on transparency and service, making healthcare more affordable and accessible for all members. About SmithRx SmithRx is a modern PBM dedicated to reducing the cost and complexity of pharmacy benefits. The company empowers organizations of all sizes to take control of their pharmacy spend with a radically transparent, universal pass-through model, innovative cost-saving programs, and intuitive technology. Unlike legacy PBMs, SmithRx eliminates hidden fees, passes through 100% of rebates and discounts, and provides real-time prescription pricing and detailed savings reports. This gives clients the insights they need to make informed decisions and achieve meaningful savings for both their business and their employees. Experience the difference transparency, trust, and fairness can make in building a more equitable healthcare system. Learn more at www.smithrx.com. About UnitedAg UnitedAg is a member-owned agricultural trade association dedicated to providing comprehensive health benefits, fostering the next generation of agricultural leaders, and advocating for members' interests with lawmakers. Our mission is to support the sustainability and success of our members and the agricultural sector through tailored health benefits, leadership development, and legislative advocacy. Currently, we operate in California and Arizona and will soon expand to Oregon and Colorado. View source version on businesswire.com: https://www.businesswire.com/news/home/20251006154566/en/
SmithRx has raised $60 million in Series C funding to revolutionize pharmacy benefits. The company aims to reduce costs and complexity for self-insured employers by developing advanced technology and expanding cost-saving programs. Operating independently from traditional insurers, SmithRx plans to use the funds to enhance its infrastructure, invest in data analytics, and launch initiatives targeting inefficiencies in pharmacy benefit management, promoting transparency and affordability.
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.