Full-Time
PBM offering pass-through pricing model
$54.4k - $64k/yr
Plano, TX, USA + 1 more
More locations: Lehi, UT, USA
In Person
On-site roles in Lehi, UT and Plano, TX; no remote work.
Bachelor's
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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
SmithRx, a modern pharmacy benefits manager, has partnered with Transcarent to integrate prescription drug cost intelligence into Transcarent's WayFinding platform. The integration provides employees with real-time prescription cost estimates, pharmacy comparisons and lower-cost alternatives whilst giving employers visibility into drug spending. SmithRx's Drug Pathways Engine uses AI-powered technology to identify lower-cost medication options by analysing pricing data, plan rules and clinical criteria. The company works through directly contracted pharmacies and offers platform-based pricing, where every client receives identical pricing for medications. SmithRx reports average pharmacy benefit savings exceeding 20% and average per member per month savings of $37 across its client base. The partnership enables real-time pharmacy guidance within Transcarent's broader healthcare navigation experience, connecting medication decisions to related health resources and employer-sponsored benefits.
SmithRx, a modern pharmacy benefits manager, has launched a partner ecosystem to help employers deliver sustainable GLP-1 weight management programmes. The company is partnering with obesity medicine providers including 9amHealth, Calibrate, Mark Cuban Cost Plus Drugs, FlyteHealth and Form Health to access manufacturer-approved cash-pay pricing for GLP-1 medications. The initiative addresses mounting financial pressures on employers, who face high upfront costs and higher-than-expected utilisation for weight management coverage. Survey data shows some employers are uncertain about maintaining GLP-1 coverage in 2027 due to budget constraints, whilst nearly 70% of GLP-1 users cite cost as a key factor in treatment decisions. SmithRx's approach combines transparent pricing with clinical oversight, with some employers achieving up to 70% in cost savings through tailored pharmacy benefit programmes.
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.